Web3 news

Web3 was first coined by Ethereum co-founder Gavin Wood in 2014. The fundamental idea behind web3 is to create a decentralized version of the Internet, relying not on centralized servers or data centres but distributed nodes. This will enable greater privacy and security as information isn’t stored in one central location but is instead widespread, while smart contracts and automation on the blockchain will allow payments to be instant and cheap.

Concepts within the web3 space include blockchain, the metaverse and NFTs.