Web3 Overview
Web3 represents the next evolution of the internet — a decentralized web built on blockchain technology where users own their data, identity, and digital assets. Unlike Web2 (current internet dominated by Big Tech), Web3 removes the need for trusted intermediaries.
The Evolution of the Web
WEB 1.0 (1990s-2004) WEB 2.0 (2004-present)
┌──────────────────────┐ ┌──────────────────────┐
│ Read-Only │ │ Read + Write │
│ Static HTML pages │ │ Social media, apps │
│ No interaction │ │ User-generated │
│ Central servers │ │ content │
│ │ │ Platforms own data │
└──────────────────────┘ └──────────────────────┘
│
▼
WEB 3.0 (Emerging)
┌──────────────────────┐
│ Read + Write + Own │
│ Blockchain-based │
│ User owns data/assets│
│ Decentralized │
│ Token economics │
│ No central authority │
└──────────────────────┘
Web3 Tech Stack
┌──────────────────────────────────────────────┐
│ Layer │ Tools / Protocols │
├──────────────────────────────────────────────┤
│ Blockchain │ Ethereum, Solana, Polygon │
│ Smart Contract │ Solidity, Rust, Vyper │
│ Dev Framework │ Hardhat, Foundry, Anchor │
│ Frontend │ React, Next.js, Svelte │
│ Web3 Library │ ethers.js, viem, wagmi │
│ Wallet │ MetaMask, Phantom, Rainbow │
│ Storage │ IPFS, Arweave, Filecoin │
│ Identity │ ENS, SpruceID, Worldcoin │
│ Indexing │ The Graph, Covalent │
│ Oracles │ Chainlink, Pyth, UMA │
└──────────────────────────────────────────────┘
Key Web3 Concepts
Self-Sovereign Identity: You control your own identity via cryptographic keys, not a username/password tied to a company.
Composability: Smart contracts can call other contracts like LEGO blocks, enabling rapid innovation.
Tokenization: Anything of value — art, property, votes, time — can be represented as a token on-chain.
Permissionlessness: Anyone can build on or interact with public blockchains without asking permission.
Web3 Use Cases
DeFi: Open financial systems for lending, borrowing, and trading.
NFTs: Digital ownership for art, music, gaming, and more.
DAOs: Community-governed organizations with transparent decision-making.
Social: Decentralized social networks where users own their content.
Gaming: Play-to-earn games with true asset ownership.