Web3, also known as Web 3.0 or the decentralized web, refers to the next evolution of the internet. While the current internet (Web 2.0) is based on centralized services and platforms, Web3 aims to create a more decentralized and open web that is powered by blockchain technology.

Web3 is characterized by the use of decentralized protocols and applications, which allow users to interact with each other directly without the need for intermediaries. This makes it possible for users to maintain greater control over their personal data, as well as to participate in the creation and management of digital assets, such as cryptocurrencies and non-fungible tokens (NFTs).

Web3 is still a relatively new concept, and there is a lot of ongoing development in this space. Some of the key technologies and platforms that are being developed as part of the Web3 ecosystem include decentralized finance (DeFi) platforms, blockchain-based identity solutions, and peer-to-peer marketplaces for digital goods and services.