MEXC Global: What characteristics does WEB3 have?

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The World Wide Web's solid, robust infrastructure was made possible by centralization, which also assisted in bringing billions of users online. At the same time, a small group of centralized organizations control a sizable portion of the World Wide Web and make unilateral decisions over what should and shouldn't be permitted.

The solution to this conundrum is Web3. Web3 emphasizes decentralization and is created, run, and owned by its users rather than a Web dominated by major technological companies. Web3 gives people the ability to make decisions rather than companies.

 

The idea of a new, improved internet has taken on the umbrella title "Web3." In essence, Web3 uses blockchains, cryptocurrencies, and NFTs to return ownership and authority to the consumers.

Web2 is read-write, Web3 will be read-write-own, and Web1 was read-only.

 

Although it's difficult to give a precise definition of what Web3 is, a few fundamental ideas serve as its guiding principles.

With Web3, ownership is divided among its creators and users rather than being controlled and owned by sizable portions of the internet.
Everyone has equal access to engage in Web3 and nobody is excluded because it is permissionless.
With native payments, Web3 does away with the antiquated infrastructure of banks and payment processors and uses bitcoin for online purchases and payments.
Web3 runs without the use of reliable third parties; instead, it makes use of incentives and economic principles.