Web3 is a concept used to characterize a novel model for online applications. It represents the third era of the web.

Web1 (The Static Web): The initial phase of the web, characterized by static and read-only content.

Web2 (The Social Web): This era brought interactivity, social media, and user-generated content.

Web3 (The Decentralized Web): The emerging era. In Web3, applications are structured in a decentralized manner, which implies that they are not under the control of any individual organization or a cluster of associated organizations. Instead, they are run on a blockchain or decentralized network of computers. Web3 enables applications to run without a central authority or single point of failure, and with a high level of user control over data. It is frequently linked to the creation of decentralized applications, known as dApps, which operate on a blockchain.