Introduction to 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 applications that run on a single server or that store their data in a single database (usually hosted on and managed by a single cloud provider).

Instead, Web3 applications either run on blockchains, decentralized networks of many peer to peer nodes (servers), or a combination of the two that forms a cryptoeconomic protocol .

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 network participants.

In this, like in many forms of decentralization, you'll see that unnecessary and often inefficient intermediaries are cut out.

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 interoperability between participants. They also require you to hand over your sensitive information and personal data in order to use them.

Crypto wallets like MetaMask and Torus enable you to integrate easy, anonymous, and secure international payments and transactions into Web3 applications.