Web3, what is that?

You hear more and more Web3, but many people don’t know what it is. We explain it to you.

Web3 and metaverse, you hear it more and more often. It is seen as the future of the internet. There is still a lot of uncertainty about this. That makes sense because it is currently still a work in progress. It is not clearly defined yet, we will try to explain Web3 to you anyway.

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Let’s start by saying that the opinions of the experts are quite different. However, the main principle is that it will be decentralized. This instead of being controlled by governments and corporations, as is the case with today’s internet. And to some extent will be connected with the concept of the ‘metaverse’.

Decentralization with Web3 is very important, just like with cryptos. On the internet today, almost everything is owned by companies. And is under some sort of government control. This is because it was the easiest way to build a network infrastructure. Namely, because someone pays to install servers and run software on them that people want to access online. Then they charge to use it or let us use it for free as long as we follow their rules.

Blockchain is of course booming right now and can also help decentralize the internet. Blockchain is a relatively new method of storing data online, built around the two core concepts of encryption and distributed computing.

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This allows data to be stored in a way that it is only under the control of the person who owns it. Even if they happen to be stored on a server owned by a company or subject to the control of a local government. The owner or government can never access or modify the data without the keys to the encryption proving they own it.

Other important concepts often used in relation to web3’s technical infrastructure are that it is open, that is, built largely on open source software.

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