Web3 Racing: The Ultimate Test of Strategy and Skill in a Virtual World - Puffin Foundation Resources
Web3 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, tokenomics, and privacy-enhancing technologies. [1] The term is sometimes confused with the Semantic Web, as both have sometimes been referred to as " Web 3.0 ". [2] Some technologists and journalists have contrasted it with Web 2.0, in which they say user ...
Understanding the Context
An introduction to Web3—the next evolution of the World Wide Web—and why it matters. Web3 is an umbrella term for technologies like blockchain that decentralize data ownership and control on the internet. Most internet applications are controlled by centralized entities that determine how they save and use end-user data. Instead of centralized management structures, Web3 (also called Web 3.0, decentralized web, or semantic web) technologies allow for community-driven projects ...
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Key Insights
In this McKinsey Explainer, we explore what Web3 is and why this revolutionary technology has the power to reshape virtually every aspect of our society. As the internet is evolving, learn more about Web3, how it differs from Web 2.0, and the different job opportunities in this field. Web3 proposes a different relationship: where individuals can hold their assets in digital wallets, where identity is portable and self-sovereign, and where communities share in the value they create. Web3 is the next generation of internet infrastructure built on public blockchains, smart contracts, and token-based incentives. Instead of relying on centralized platforms to store data, manage identity, and enforce rules, Web3 uses cryptography and open networks to enable user ownership, decentralization, and trust minimization.
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Below is a research-driven guide to essential Web3 facts ...