Frequently Asked Questions

Web3 is the vision for the next generation of the internet built on blockchain technology. It enables decentralized applications, user-owned data, and token-based economies. Web3 aims to create trustless, permissionless systems where users have control over their digital identities and assets.

Unlike Web2, where platforms own user data and monetize it, Web3 gives individuals ownership through cryptographic proof and decentralized infrastructure.

Blockchains are distributed ledgers secured through cryptography. Every transaction is grouped into a block and linked to the previous one in a chain structure. This ensures data integrity and immutability. Key principles:

• Consensus mechanisms like Proof of Work (PoW) or Proof of Stake (PoS) ensure network agreement.
• Public addresses allow users to control funds or data without intermediaries.
• Smart contracts are self-executing code rules that automate agreements without trust.

NFTs (Non-Fungible Tokens) verify digital ownership and scarcity for unique assets. Their applications include:

• Digital art and collectibles (crypto art, virtual real estate)
• Tokenized real-world assets (real estate deeds, luxury goods)
• Proof of membership/access (DAO tokens, event tickets)
• Decentralized identity systems and credentials