Everything you need to know about Web 3
Blockchain
Blockchain is a decentralized, digital ledger that records transactions across a decentralized network of computers, ensuring security, transparency, and immutability without the need for a central authority.
NFTs
NFTs, or non-fungible tokens, are unique digital assets stored on a blockchain, representing ownership or proof of authenticity for items like art, collectibles, or media.
Crypto-currencies
Cryptocurrencies are digital currencies that use cryptography for secure transactions and operate independently of a central bank, with values determined by supply, demand, and market interest.
Smart contracts
Smart contracts are self-executing contracts with the terms of the agreement directly written into code, enabling automated, trustless transactions on a blockchain without the need for intermediaries.
Decentralized Finance
Decentralized finance, or DeFi, is a financial ecosystem that uses blockchain technology and smart contracts to offer open, permissionless financial services like lending, borrowing, and trading, without relying on traditional banks or intermediaries.
DAOs
DAOs, or Decentralized Autonomous Organizations, are member-governed communities that operate on blockchain technology, enabling transparent, rule-based decision-making without centralized leadership, where members hold voting power through tokens.
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