What is Web3 and why is everyone talking about it
Nov 29, 12:11

Web3 is the next version of the internet, which is a decentralised internet that runs on public blockchain--a technology popular for cryptocurrency transactions. But it could be a lot more than that. Picture this. Today common services such as payments, social media and shopping run on services largely controlled and mediated by giants such as Google, who profit by mining user data. But in Web3, these services will run on public blockchains, without the big intermediaries. With Web3, users will own their data and can be direct beneficiaries of the services, cutting out the middlemen. While the ecosystem is still evolving, the most popular use case is NFTs.

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