{
"title": "WHAT IS WEB3?",
"tags": [
"post"
],
"sources": [
"xlog"
],
"external_urls": [
"https://omer_testnetrun78.xlog.app/WHAT-IS-WEB3?"
],
"date_published": "2022-10-17T16:05:22.643Z",
"content": "\nThe term Web3 was first coined by Ethereum co-founder **Gavin Wood** in 2014.\nWith various high-end software and artificial intelligence; It is an internet infrastructure that aims to provide a personalized, smart and autonomous browsing experience. Many and various projects are being built on this structure.\n\n**Decentralization**\n\nData, apps and services will be stored in multiple locations on the blockchain and distributed without a central authority\n\n**Artificial intelligence**\n\nAdvancing machine learning will enable smarter interactions between applications and user interfaces.\n\n**Cryptocurrency**\n\nA secure and decentralized currency based on blockchain ledgers (e.g. Ether or Bitcoin).\n\n**Decentralized Finance (DeFi)**\n\nThe concept of decentralized finance (DeFi) is the whole of various financial instruments carried out with smart contracts without intermediary companies.\n\n**Decentralized Autonomous Organizations (DAO)**\n\nUser-owned communities where there is no centralized leadership.\n\n**Decentralized Applications (dApp)**\n\nWeb applications, also known as dApps on Web3, will be run with smart contracts on P2P blockchain networks.\n\n**Autonomous User**\n\nThe decentralized web3 will enable a permissionless, uncensored, democratic web where anyone can join and own something.\n\n**Anonymous User**\n\nArtificial intelligence technologies in Web3 will allow users to separate their digital identity from their real identity. The person will share their identity information if they want.\n\n**Metaverse**\n\nIt is the new version of the internet in a way that supports 3D virtual environments entered using augmented reality devices. Many P2E, concerts, art wraps and meetings are held in these venues. Also many fashion designs are used and promoted (nft)\n\n**NFT**\n\nNFT is a unique unit of digital data stored on the blockchain. NFTs will continue to revolutionize the gaming, collectibles and arts industry by authenticating the owners of digital files.\n\n**Web3 Next 5 year**\n\nWhen we evaluate the next 5-10 years of the Web3 ecosystem, we will see an increase in the number of people entering the system as the projects multiply and integrate with each other. The growth of this ecosystem will be a source of entertainment and income for many people. Besides, we will see that the white hat and black hat wars against hacking risks will heat up. We will see bots and anti bot wars. There are mistakes wherever there are people, and the important thing is to learn from these mistakes and not repeat them in the next time. To sum up, web3 is Future. We have already taken important steps by taking our place here and we continue to do so. We have a little more time ahead of us for full decentralization. However, I foresee that this process will shorten as we see the important developments in the recent period. \nThanks,Respects\n",
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