What is web 3

Web 3 is a term used to describe the next generation of the internet, where the focus is on decentralized systems and technologies such as blockchain and smart contracts. These technologies enable new ways for users to interact with the internet, such as decentralized applications (dApps) and decentralized finance (DeFi) platforms, which operate on a peer-to-peer basis without the need for intermediaries. Web 3 also emphasizes the importance of data privacy, security, and control, allowing users to own and control their own data.