Glossary
Web3 Meaning: What Does Web3 Mean in Crypto?
Definition
Vision of decentralized internet built on blockchain technology
Web3 represents internet evolution from read-only (Web1) to read-write (Web2) to read-write-own (Web3); users control data, identity, and assets without intermediaries. Core Principles: Decentralization, user ownership, permissionless access, native payments, interoperability, trustless interactions. Applications: DeFi, NFTs, DAOs, decentralized social media, metaverse platforms. Challenges: UX complexity, scalability, high fees, regulatory uncertainty.