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