Web3 represents the next phase of the internet, shifting from centralized platforms to decentralized applications (dApps), blockchain-based governance, and user-controlled data ownership. It integrates cryptocurrencies, smart contracts, NFTs, and decentralized identity solutions to create an open, trustless digital ecosystem. Web3 innovations include decentralized social media, self-sovereign identity (SSI), and tokenized economies. Investors and developers focus on Web3 interoperability, DAO governance structures, and metaverse integrations to expand adoption. As major tech firms explore Web3, scalability, regulatory compliance, and user-friendly interfaces remain critical challenges.
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