What are Web3 Cryptos?

They are digital assets that contribute to the development of a decentralized internet. Web3 cryptos are a new wave of cryptocurrencies that focus on making the decentralized vision of Web3 a reality.

Is Web3 a blockchain?

The answer to both is probably yes. The answers to your follow-up questions are below. What, exactly, is Web3? Web3 refers to a potential new iteration of the internet that runs on public blockchains, the record-keeping technology best known for facilitating cryptocurrency transactions.

What is Web3 & why is it gaining traction?

One element of Web3 that’s gaining a lot of traction is decentralized finance, also known as DeFi, which involves conducting IRL financial transactions on the blockchain without assistance from banks or the government.

Is Web3 a security nightmare?

In reality, Web3 is becoming a security nightmare as a slew of recent hacks has left some wondering if they should just turn our money and data over to Mark Zuckerberg and call it day. The latest security disaster involves the play-to-earn game Axie Infinity, which is supposed to be the poster child for what Web3 can be.