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glossary

Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.
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Web3

Web3 is a broad, next-generation web architecture that aims to distribute ownership and control of personal data, identity, and associated value directly to its participants. Envisioned as a 'server-less' network, this vision aims to iterate on various perceived flaws in Web2, in which a small, centralized set of technology companies control most user data. Broadly, Web 3 aims to eliminate the single points of failure prevalent across Web2, such as the data siloes of social media networks and centralized Certificate Authority and DNS protocols. Web3 ideas are found in many projects across the blockchain space, with smart contract platforms such as Ethereum and Polkadot playing key roles.