What is 'Web3'?

Advocates of DeFi (or “decentralized finance,” which aims to remake the global financial system) are lobbying Congress and pitching a future without banks. The totality of these efforts is called “Web3.”

What's behind the Web3 boom?

But the web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a yearslong crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects.

Will Web3 transform the Internet?

The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new, middleman-free digital economy.

What are Web3's Killer features?

Although Web3's killer features aren't isolated and don't fit into neat categories, for simplicity we've tried to separate them to make them easier to understand. Web3 gives you ownership of your digital assets in an unprecedented way. For example, say you're playing a web2 game. If you purchase an in-game item, it is tied directly to your account.