Web3 is the future of the internet, where users are in control of their own data and have the power to control their online identity.
Existing problems with the Web include centralized control of the internet by a few companies, lack of privacy and security for online users, and inequitable distribution of power and value online.
Web3 technology enables decentralized applications and services that run on a peer-to-peer network, making the internet more secure and transparent. By leveraging blockchain technology, Web3 creates a more open and equitable online experience, where users can participate in a decentralized economy and enjoy greater privacy and security. With Web3, the internet is shifting from a centralized system controlled by a few companies to a decentralized network that is open to everyone.
There are currently over 100 decentralized applications (dApps) built on Web3 technology, with many more in development. The total value locked in decentralized finance (DeFi) protocols built on Web3 technology has surpassed $60 billion. The Web3 ecosystem has attracted millions of users and is growing rapidly.
This SlideShare explores the concept of Web3 in brief.