Web3 is a vision for a new iteration of the World Wide Web based on blockchain technology. It incorporates concepts like decentralization, token-based economics, and cryptocurrency. Commonly used to describe a potential future version of the internet where users have more control over their data and online interactions, and where services are often built on decentralized networks rather than centralized servers. Examples of web3 applications include decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs).
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