Web1: Read
Simple, static web pages.
Web 2: Read + Write
Blogs, social media, user-created content.
Web 3: Read, Write, OWN
True ownership of your own content and assets.
New to web3? Here are some terms you’ll want to become familiar with…
Blockchain
In short: blockchains allow digital data and assets to be stored, and publicly viewable, but not editable.
Check out etherscan.io for examples of Ethereum blockchain ledgers.
Crypto
Cryptocurrency is a highly secure digital currency, which is not reliant on any central authority (i.e. a government or bank).
Crypto is typically used to purchase NFT’s, or held onto as an investment.
Examples: Bitcoin, Ethereum, Solana, Litecoin, etc.
NFT
A Non-Fungible Token is simply a record of ownership of a rare asset; such as: artwork, music, animated objects, group memberships, domain names, and much more.
We are just scratching the surface of what is possible with NFT’s currently.
DAO
A Decentralized Autonomous Organization is similar to a company, but where every member of the DAO has an equal voice in decision making and profit sharing.
Typically, DAOs are founded by a group of people who have a shared goal or mission.
Decentralization
In web3, decentralization refers to a system of interconnected computers that work together to provide private, secure, censorship-resistant access to information and services.
Blockchains, NFT’s, DAO’s, and Cryptocurrencies are all decentralized technology.
There is still a lot more to learn and explore in web3. Let’s do it together!
Learn more about what I, and nine other creatives, are building in the web3 world: https://thefo.rest
