What is Web3 and Why Does It Matter to You?

With a variety of innovative use cases such as NFTs, the Web3 metaverse, DAOs, and many more already in play, Web3 brings a lot of scope and potential to the modern world. It can bring scalability, efficiency, and intrinsic value to modern processes and to the fast-paced life that Web2 has thrust upon us.

What is Web3 — New Ways to Surf

You are probably wondering why Web3 is gaining so much traction! Well, understanding how it works can shed some light on its utility to the modern digital landscape.

Web3 is essentially a new digital frontier that blockchain has created for its users. A key factor to examine here is blockchain’s focus on decentralization. With ownership of content and digital spaces being in the hands of service providers with vested interests, Web3 brings a host of changes to the table.

Moreover, the presence of Smart Contracts on blockchain networks brings another dimension to decentralization. Read along to find out more on Web3 and decentralization.

For more interesting updates on the latest NFT trends, follow bitsCrunch!

Originally published at https://bitscrunch.com on September 26, 2022.

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