What Is Web3 | What is Web3 Explained | What is Web3 and Blockchain

What Is Web3 | What is Web3 Explained | What is Web3 and Blockchain 👉 Get your own Binance Account from Here: 👉 Best Hardware Wallet (Trezor): 🎬Watch our most recent videos: 🔥Play To Earn 🔥 What is the Best Earning NFT Game 2023?👇 🔥What is Web3 🔥 What is Web3: The Future of Decentralized Internet👇 _____________________________________________________________ Links mentioned in the video: ✅ Best Hardware Wallet (Ledger Nano): ✅ Best Hardware Wallet (Trezor): _____________________________________________________________ Welcome to Our What Is Web3 Video! Web3, often referred to as the decentralized web, represents the third generation of internet services and applications, which are built on decentralized blockchain technology. Unlike the current web (Web2), which is largely dominated by centralized entities and services, Web3 aims to empower users with greater control over their data, identity, and online interactions through decentralization, transparency, and peer-to-peer networks. Key Characteristics of Web3 Decentralization: Web3 applications (dApps) run on decentralized networks of computers rather than centralized servers. These networks are typically based on blockchain technology, where data is distributed across multiple nodes, ensuring that no single entity has complete control. Trustlessness: Web3 reduces the need for intermediaries or trusted third parties. Transactions and interactions are verified by the network using consensus mechanisms like proof of work (PoW) or proof of stake (PoS), ensuring trust through code and cryptography. Ownership and Control: Users have control over their own data and digital assets. Blockchain technology enables the creation of unique digital tokens (cryptocurrencies and NFTs) that users can own, trade, and manage independently. Transparency: Blockchain’s immutable ledger ensures transparency. All transactions and changes are recorded on a public ledger that can be audited and verified by anyone, fostering trust and accountability. Interoperability: Web3 promotes interoperability between different platforms and applications. Standards like ERC-20 and ERC-721 on Ethereum enable different dApps to work together seamlessly, allowing assets and data to move across different platforms without friction. Core Components of Web3 Blockchain: The foundational technology for Web3. Blockchains like Ethereum, Binance Smart Chain, and Polkadot enable the creation of decentralized applications and smart contracts that execute automatically when certain conditions are met. Cryptocurrencies: Digital currencies like Bitcoin, Ethereum, and others serve as both transactional and utility tokens within the Web3 ecosystem. They facilitate peer-to-peer transactions and power various dApps. ____________________________________________________________ The above links may be affiliate links, when you click and purchase something, I could receive a little commission at no additional cost to you. This video is for informational purposes only. I’m not your financial advisor! Be aware Of Crypto/Trading Scams & Rug Pull Scams! The sole purpose of this Channel is to entertain and educate other users on their Crypto /Trading Journey. If you insist on getting Professional views, please contact a financial advisor. Any actions you make in accordance with my opinions and the content of this channel will not be held liable. Only investing in something you afford to lose is what I always say to our audience. Please do not buy or invest or create sudden decisions because of our Channel. Please always do your research before you take action. Crypto is very risky and it needs enough knowledge. Some videos on this Youtube Channel are Paid Promotions. This means the content creator was paid to make these videos! I hope you found value in our What Is Web3 video. Make sure to leave a like on the video if you gained value from it! #Web3 #Blockchain #crypto #nftcommunity #nftcollectors #nftmint #racinggame #nftdrop #cryptogame #game #games #nextbigthing 👉👉 For Collaboration Contact Us At: collab@ 🔥 🔥 For More ICO Projects Check Out Our Site: ________________________________________________________________________ ⏰Timestamps⏰ 00:00 what is web3 explained Introduction. 00:11 what is web3 explained summary. 04:34 what is web3 explained project outro.