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What is Web3, is it the new phase of the Internet and why are Elon Musk and Jack Dorsey against it?
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euronews.comWeb3 has become the latest buzzword to get tech and cryptocurrency enthusiasts talking. While some are excited at what is being dubbed as the next phase of the Internet, others, including Elon Musk and Jack Dorsey, have voiced their concerns over it.
But what is Web3 and can this decentralised vision of the Internet work?
Put simply, Web3 is an umbrella term for an online ecosystem that cuts out the big middlemen on the Internet. So, platforms on Web3 are not owned by central gatekeepers and you wouldn’t navigate the Internet through search engines such as Google.
It uses blockchain, the same system used by cryptocurrencies and non-fungible tokens (NFTs).
The first version of the world wide web was launched by Sir Tim Berners-Lee in 1989. Back
Read more on euronews.comAbout this in other media
Web 3.0 Wars are Becoming Personal as Jack Dorsey Draws the Decentralization Line cryptonews.com /2 years ago
Elon Musk says he’s ‘sold enough’ Tesla stock, complains about taxes fnlondon.com /2 years ago
Elon Musk thinks Neuralink is better than Metaverse in long term cointelegraph.com /2 years ago
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