What is Web 3.0: A Beginner's Guide

Definition: Web 3.0 is a potential future version of the internet built on public blockchains, known for enabling cryptocurrency transactions.

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Decentralization: Unlike Web 2.0 where central companies mediate services, Web 3.0 is decentralized.

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Permissionless Access: Web 3.0 doesn't require central authorities to control access, offering unrestricted access to services without gatekeepers.

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No Intermediaries : In Web 3.0, intermediaries aren't needed for virtual transactions, fostering direct peer-to-peer interactions without relying on trust.

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Enhanced Privacy: Since intermediaries collect less data, Web 3.0 offers improved user privacy and control over personal information.

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DeFi Integration: Web 3.0 includes DeFi (Decentralized Finance), enabling real-world financial activities on the blockchain without traditional banking systems.

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Corporate Involvement: Major corporations and venture capital firms are investing in Web 3.0, potentially leading to concerns about centralization of power despite its decentralized principles.

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