Web3

Definition ∞ Web3 represents the conceptual evolution of the internet, aiming for a decentralized architecture built upon blockchain technology and distributed ledger systems. This paradigm emphasizes user ownership of data and digital assets, shifting away from the centralized control characteristic of Web2 platforms. It seeks to establish a more open and equitable digital environment.
Context ∞ The development and discourse surrounding ‘Web3’ are rapidly advancing, with a focus on decentralized applications (dApps), decentralized finance (DeFi), and the metaverse. Key discussions involve interoperability between different blockchain networks, the scalability of decentralized systems, and the governance models for decentralized entities.