Web3s Governance Dilemma: Power, Participation, And Pitfalls
Web3 is revolutionizing the internet as we know it, promising a decentralized, user-centric experience that shifts power away from centralized corporations and puts it back in the hands of individuals. This new iteration of the web is built on blockchain technology, utilizing cryptocurrencies and NFTs to create a more transparent, secure, and equitable digital landscape. Ready to dive deeper? Let's explore the core concepts, practical applications, and future potential of Web3.
What is Web3?
Decentralization: The Core Principle
Web3 is fundamentally about decentralization. Unlike Web2, where data and control are concentrated in the hands of a few major companies (think Google, Facebook, and Amazon), Web3 aims to distribute ownership and decision-making across a network of users.
Example: I...