Introduction
The term “Web3” has gained popularity, but its meaning is often unclear.
Is it:
- a technological evolution
- or a conceptual rebranding?
1. Blockchain vs Web3
Blockchain:
- infrastructure
- protocol layer
Web3:
- application layer
- user-facing ecosystem
2. Key Components of Web3
- decentralised applications (dApps)
- token economies
- digital identity
3. Criticism of Web3
Common concerns:
- centralisation of infrastructure
- speculative focus
- usability challenges
4. Practical Reality
Many “Web3” systems:
- still rely on centralised services
- operate in hybrid models
Conclusion
Web3 is best understood not as a replacement for the internet, but as an extension introducing new ownership and coordination models.
Leave a Reply