What Are The Examples Of Web3?
Web3 is evolving very fast; it is the new version of decentralized internet where privacy is maintained fully. As this emerging Web3 provides a lot of exciting applications based on this, some of them are as follows:
• Bitcoin is one of the first cryptocurrencies based on blockchain technology. Now numerous new cryptocurrencies are being created which are geared more toward web3. Bitcoin is the first decentralized digital currency.
• Blockchain Technology: This is one of the best technologies which inspired the idea of web3. It is essential to the foundation of web3 as most of the technology relies on it. Moreover, it maintains a record of transactions.
• NFTs: It’s another side of web3. NFTs are types of crypto you can create and buy in the marketplace. It is unique and cannot be exchanged for another. It has a unique identification and gives full-fledged ownership of NFTs.
• DApps: Decentralized apps use the Ethereum blockchain to do the online computation, and gas fees are used to pay for the computation. It satisfies all web3 requirements to be public, open source and secured through cryptography.
Many more uses of web3 are there, such as smart contracts, Distributed computing, DAOs, and Machine learning and Intelligence.
Explore most asked questions and answers related to Web3.0 from here: Best Questions And Answers On Web3