What is Web 3

By Coins Reporter | Coinsreporter | 26 Feb 2022

Web3 is an evolutionary development of Web 1 and Web 2. Basically, it is a different concept of the World Wide Web. It is closely related to blockchain technology.

Web1 is of the period from 1991 – 2004 when most websites were static, and users were consumers but not producers of the content.

Web2 is based on user produced content such as blogs, wikis and such like which are uploaded on social media. It considers the web as a platform

Web 3 is seen as a decentralized system based on blockchain and popular with cryptocurrency dealers. One of the main concepts of Web 3 is decentralized finance.

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