What Is Web3?
Web3 is a loose term for a version of the internet built on blockchains, where users can own their data, digital assets, and identity directly — rather than those living inside a single company’s database (think a social platform or app store that can suspend your account and everything in it at will).
Web1, Web2, Web3 — the shorthand
Web1 (roughly the 1990s) was mostly static, read-only pages. Web2 (the last two decades) added interactivity and user-generated content, but concentrated control in large platforms — social networks, app stores, cloud providers. Web3 proposes shifting some of that control back to users via blockchains, cryptographic wallets, and tokens instead of centrally-managed accounts.
What actually falls under "Web3" today
In practice, Web3 today mostly refers to: DeFi applications, NFTs (unique digital ownership records), DAOs (Decentralized Autonomous Organizations — groups that coordinate and vote on decisions using tokens instead of a traditional corporate structure), and crypto wallets as a login/identity method instead of a username and password.
A realistic take
Web3 is still an early, actively evolving idea — some applications genuinely deliver on user ownership and censorship-resistance; others are traditional apps with a token bolted on for speculative interest. It’s worth evaluating each project on what it actually does, rather than the label alone.
Not investment advice
This page is general information for education only, not investment, legal, or tax advice. Rules and risks can change — do your own research and consult a qualified professional before acting on anything here.