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Web3 Meaning

Web3 refers to the decentralised evolution of the internet built upon blockchain technology, decentralised networks, and cryptographic protocols. Unlike Web2, where corporations control data, Web3 enables users to own and manage their data, identity, and digital assets using cryptographic keys.

Applications on Web3 include decentralised finance, decentralised autonomous organisations, and NFT marketplaces.

While the concept promises greater privacy, censorship resistance, and economic inclusion, it also faces challenges such as scaling, user experience, and regulatory clarity.

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