Web3
ELI5 — The Vibe Check
The idea that the next internet should be decentralized — owned by users, not big companies. Web1 was read-only (static sites), Web2 is read-write (social media, apps), and Web3 is supposed to be read-write-own (crypto, DAOs, dApps). Whether it's the future or a hype cycle depends on your Twitter feed.
Real Talk
Web3 refers to a vision of a decentralized internet built on blockchain technology, where users own their data and digital assets. It encompasses cryptocurrencies, DeFi, NFTs, DAOs, and decentralized applications. The term is both a technical movement and a cultural/investment phenomenon.
When You'll Hear This
"Is this a Web3 project or a regular web app?" / "Web3 had a rough couple years but the tech is still evolving."
Related Terms
Blockchain
A digital ledger that nobody owns but everyone can verify.
DeFi (Decentralized Finance)
Banking without banks. Lending, borrowing, trading, and earning interest — all through smart contracts instead of institutions.
Smart Contract
Code that runs on a blockchain — once deployed, nobody can change it (which is either amazing or terrifying).