At the center of Web3 are three main things:
- Wallets
- Blockchains
- Smart contracts
Together, they replace banks, apps, and middlemen.
Wallets
Call it your digital identity
Instead of logging in with email and password, you log in with a wallet.
Your wallet is your account, your bank, and your digital ID all in one. It holds your crypto, NFTs, and access to Web3 apps. And most importantly: you own it. No company can freeze it, block you, or take it away.
Blockchains
you could call it your Public Record
Every action in Web3 happens on a blockchain.
When you send money, buy an NFT, vote, or use a Web3 app, the transaction is recorded publicly. This means anyone can verify it, no one can secretly change it, and no single company controls it.
Smart Contracts
Call it a code that keeps its word
Smart contracts are programs that live on the blockchain.
They automatically execute agreements when conditions are met, no human needed.
For example:
If you send money → you get the product.
If you stake tokens → you earn rewards.
If you vote → your vote is counted automatically.
Let’s say you want to send money to a friend.
In Web2, sending money means using a bank or app, waiting for approval, and trusting a company.
In Web3, you open your wallet, enter an address, send, and you’re done. No approvals. No delays. No third parties.
Sending money in Web3 is simple:
Wallet → Address → Send → Done.
- No banks.
- No approvals.
- No reversals.
Web3 shifts the internet from:
“Platforms own everything.”
to:
“Users own everything.”
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