Is Web3 All Hype? Or Is Web3 The Future of the Internet?
Web3, often referred to as the next phase of the internet, is majorly based on decentralized peer-to-peer networks. Applications and code are encrypted and distributed across all the computers participating in the network. As a result, there is no single point of failure or central authority, making it tamper-resistant and easily verifiable.To understand why Web3 is needed, we need to take a trip down memory lane.