Web3 Platforms

Definition ∞ Web3 platforms are decentralized online services and applications built using blockchain technology. These platforms operate on principles of decentralization, user ownership, and cryptographic security, aiming to return control of data and identity to individuals. They often leverage smart contracts for automated agreements and digital tokens for governance and utility. Web3 represents a conceptual shift towards a more open, transparent, and user-centric internet.
Context ∞ The development and adoption of Web3 platforms are a prominent topic in technology and crypto news, signifying a potential evolution of the internet. These platforms seek to address issues of data centralization and corporate control prevalent in Web2 models. Discussions frequently revolve around their scalability, user experience, and regulatory treatment as they gain traction. The continued progress of Web3 platforms holds significant implications for digital commerce, social interaction, and data governance.