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  1. Home
  2. /Glossary
  3. /Web3
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blockchain

Web3

The vision of a decentralized internet built on blockchain technology where users own their data and assets.

Definition

The vision of a decentralized internet built on blockchain technology where users own their data and assets. Web3 encompasses crypto, NFTs, DAOs, and decentralized apps. Critics say it's mostly hype, believers say it's the future.

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Related Terms

Decentralized

Not controlled by any single entity, authority, or server.

DApp (Decentralized Application)

An application that runs on a blockchain rather than centralized servers.

Blockchain

A distributed database where transactions are grouped into blocks and linked together cryptographically.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

ERC-4337

The Ethereum standard for account abstraction without changing the core protocol.

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