Web 3.0 (Web3) is the next evolution of the internet — a decentralised web built on blockchain technology where users own their data, digital assets, and online identities rather than surrendering them to centralised corporations. Web 3.0 contrasts with Web 2.0 (the current internet dominated by Facebook, Google, and Amazon, where users provide data in exchange for free services) and Web 1.0 (the early static, read-only internet).
Core Web3 principles: Decentralisation — no single company controls the network; Trustlessness — interactions are governed by code (smart contracts) rather than trusting a company; Permissionlessness — anyone can participate without approval from a gatekeeper; Native payments — cryptocurrency enables value transfer built into internet interactions; and Self-sovereign identity — users control their digital identity via wallet addresses rather than platform accounts.
Web3 applications include: DeFi protocols (decentralised banking); DAOs (community-governed organisations); NFT marketplaces (verifiable digital ownership); decentralised social media (Lens Protocol, Farcaster); and blockchain gaming (true ownership of in-game assets). The Ethereum ecosystem is the dominant Web3 platform, with Solana, Polkadot, and Avalanche as competing infrastructure layers.
Example: In Web 2.0, posting on Instagram means Meta owns your content and can delete it at any time. In Web3, posting on a decentralised social platform like Lens Protocol stores your content on-chain — you own it permanently via your wallet, and no company can remove it or ban your account.
Learn more: Ethereum.org — What Is Web3?
