Web3, Explained like ABC

Source: Dev.to

Introduction

Humor me, try Googling the word Web3. You’ll find a ton of results, most of them filled with big technical words that make it feel like you need a computer‑science degree just to understand what’s going on.

Even if you’re not in the technical space, it’s important to grasp the big idea behind Web3—especially if you’re an investor, creator, or anyone who uses the internet daily. Web3 is changing how the internet works, and I’ll break it down simply.

Bitcoin

What is Bitcoin?
Bitcoin is a digital currency that lets people send money directly to each other without banks. Instead of trusting a bank, people trust a system called a blockchain.

Blockchain

What is a blockchain?
A blockchain is like a public notebook that:

• Records every transaction
• Is shared across thousands of computers
• Cannot be easily changed or hacked

Because the ledger is distributed, no single company controls the data; everyone shares and verifies it together.

Ethereum

Five years after Bitcoin, Ethereum was launched. Ethereum expanded the possibilities of blockchain by enabling programmable contracts and decentralized applications.

What Is Web3?

In simple terms, Web3 is the version of the internet where users own their data, money, and digital assets. Instead of sending transactions through banks, apps, or corporations, you send them directly to a decentralized blockchain.

Core Principles

• Ownership – You own your data.
• Transparency – Operations are visible on the blockchain.
• Freedom – No central authority controls the platform.
• Control returning to users – Users decide how their data and assets are used.

Contrast

• Traditional platforms: The platform owns your data.
• Web3: You own your data.