Web3
A term for the user-owned web built on blockchains, smart contracts, and wallets instead of centralized platforms.
- Type
- webdapp
Web3 describes applications that use wallets for identity, smart contracts for business logic, and tokens for value transfer, reducing reliance on centralized intermediaries.
"They connected their wallet to a Web3 DApp to swap tokens directly without creating an exchange account."
Related Terms
Decentralized Application (DApp)
→A decentralized application (DApp) is a software application that runs on a distributed computing system, most commonly a blockchain.
Wallet
→A tool that stores private keys and allows users to interact with blockchain networks.
Smart Contract
→Programmatic rules executed by the blockchain to enforce agreements without intermediaries.
All terms and definitions may update as the Cryptionary improves.
