It was static and boring.

Web2 is more like a social media platform where everyone can create content and interact with each other. But the problem is that these platforms are controlled by big corporations who decide what gets to be seen and shared, and they also get to profit off of your data without giving you any say in it.

Web3 goals to change all that by putting power back into the hands of individuals through decentralized infrastructure. It’s like a library where anyone can add their own books or borrow them from others, and there are no gatekeepers deciding what gets to be seen or shared.

Now let me explain some key concepts in Web3:

1. Blockchain This is the backbone of Web3 infrastructure. It’s like a giant digital ledger that keeps track of all transactions and data on the network, without any central authority controlling it. Think of it as a shared spreadsheet that everyone can access and update, but no one person or company has complete control over.

2. Cryptocurrency This is the digital currency used to send money directly in the browser, without needing any trusted third party like banks or payment processors. It’s like sending cash through a secure messaging app instead of using traditional banking methods.

3. NFTs (non-fungible tokens) These are unique digital assets that can be bought and sold on the blockchain, just like physical art or collectibles. They allow for direct ownership of your data in Web3, without any central authority controlling it. Think of them as digital certificates of authenticity for your online identity or content.

4. Decentralized autonomous organizations (DAOs) These are communities that own and operate platforms collectively through tokens that act like shares in a company. They allow for coordinated decentralized ownership of resources, without any central authority controlling it. Think of them as digital cooperatives or syndicates that work together to achieve common goals.

5. Identity In Web3, you can control your own digital identity with an Ethereum address and ENS profile, which allows for a single login across platforms that is secure, censorship-resistant, and anonymous. This means no more having to create separate accounts for every platform or worry about being locked out of your online life if the company decides to change their policies.

Overall, Web3 infrastructure goals to provide a decentralized, trustless, and permissionless system that puts power back into the hands of individuals instead of corporations. It’s like having a library where everyone can add their own books or borrow them from others without any gatekeepers deciding what gets to be seen or shared.