What is Web3? The Decentralized Internet of the Future Explained - Deepstash

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What is Web3? The Decentralized Internet of the Future Explained

freecodecamp.org

What is Web 3.0?

Web3 enhances the internet as we know it today with a few other added characteristics. Web3 is:

  • Verifiable
  • Trustless
  • Self-governing
  • Permissionless
  • Stateful
  • Native built-in payments

In Web3, developers don't build and deploy applicatio...

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People can make a living by participating in the protocol in various ways, in both technical and non-technical levels.

Consumers of the service usually pay to use the protocol, similarly to how they would pay a cloud provider like AWS today. Except in Web3, the money goes directly to the n...

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Native payments

Tokens also introduce a native payment layer that is completely borderless and frictionless. Companies like Stripe and Paypal have created billions of dollars of value in enabling electronic payments.

These systems are overly complex and still do not enable true international interoperabil...

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The current state of building a software company. Someone comes up with an idea, but in order to start building they need money in order to support themselves.

To get the money, they take on venture capital and give away a percentage of the company. This investment immediately introduces mi...

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In the blockchain anyone can participate in building it or investing in it from day one. The company announces the release of x number of tokens, and give 10% to the early builders, put 10% for sale to the public.

Stakeholders can use their tokens to vote on changes to the future of the pro...

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In Web3, Identity also works much differently than what we are used to today. Most of the time in Web3 apps, identities will be tied to the wallet address of the user interacting with the application.

Unlike Web2 authenticat...

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How to Get Into Ethereum, Crypto, and Web3 as a Developer – This is an introduction to the space in general, coming from a developer, for developers looking to break into the industry.

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These new and upcoming ideas could very well shape up how we interact and work with each other in the near future. It's good to have a basic understanding of these buzzwords.

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