Understanding Web3 The Next Evolution of the Internet

Web3 represents a fundamental shift in how the internet works—moving from centralized platforms controlled by large corporations to decentralized networks owned and governed by users. But what exactly is it, and why is everyone talking about it?

What is Web3? Web3 is the third generation of the internet, building on the foundation of its predecessors. Web1 (1990s-2000s) was read-only—users consumed static content from websites. Web2 (2000s-present) introduced interactivity and social media, but concentrated power in the hands of tech giants like Google, Facebook, and Amazon, who control our data and digital identities.