Web3 Services
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Web3 is decentralized
Instead of large swathes of the internet controlled and owned by centralized entities, ownership gets distributed amongst its builders and users.
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Web3 is permissionless
Everyone has equal access to participate in Web3, and no one gets excluded.
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Web3 has native payments
It uses crypto currency for spending and sending money online instead of relying on the outdated infrastructure of banks and payment processors.
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Web3 is trust less
It operates using incentives & economic mechanisms instead of relying on trusted third-parties.
Centralization has helped onboard billions of people to the World Wide Web and created the stable, robust infrastructure on which it lives. At the same time, a handful of centralized entities have a stronghold on large swathes of the World Wide Web, unilaterally deciding what should and should not be allowed.
Web3 is the answer to this dilemma. Instead of a Web monopolized by large technology companies, Web3 embraces decentralization and is being built, operated, and owned by its users. Web3 puts power in the hands of individuals rather than corporations. Before we talk about Web3, let's explore how we got here.