Web3

Web3 was an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics. This is distinct from Tim Berners-Lee's concept of the Semantic Web. Some technologists and journalists have contrasted it with Web 2.0, in which they claim user-generated content is controlled by a small group of companies referred to as Big Tech. The term "web3" was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms. The concepts of web3 were first represented in 2013.