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Web3 Commerce

Definition

Web3 commerce represents a new paradigm of online transactions and economic activity built upon decentralized blockchain technologies. This model enables peer-to-peer transactions without central intermediaries, utilizing cryptocurrencies, NFTs, and smart contracts to facilitate verifiable ownership and secure exchanges. It aims to grant users greater control over their data and digital assets, moving beyond the centralized platforms characteristic of Web2. The underlying principles prioritize transparency, security, and user autonomy.