Web3 is the futuristic concept of a decentralized web that is built on blockchain technology. This new evolution of the internet aims to shift power away from centralized entities and give more control to users.

One of the key features of Web3 is the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. This eliminates the need for intermediaries and allows for more transparency and security in transactions.

Decentralized finance (DeFi) is a major application of Web3, allowing for peer-to-peer transactions without the need for traditional financial institutions. This has the potential to democratize finance and provide greater financial inclusion for individuals around the world.

Overall, Web3 is an exciting development in the world of technology, promising a more secure, transparent, and user-centric internet experience. As we continue to explore the possibilities of Web3, we can expect to see significant advancements in various industries and sectors.#25#