Web3 is an umbrella term that refers to an evolving set of technologies, protocols, and applications that aim to create a more resilient, adaptable, and efficient internet infrastructure. Its components include distributed ledger technology, cryptocurrency tokens, decentralized finance mechanisms, and protocols for increased privacy, among others. These components come together to create an open, transparent, and secure ecosystem that promotes fair and transparent access, value exchange, and collaboration across organizations, institutions, and individuals. In essence, Web3 represents an evolution of the internet towards a more connected and empowered people-centered model.

See also: blockchain, exponential growth, liquid democracy, network dynamics