Applications that live on the blockchain allow users, at least israel girls whatsapp number in theory, to participate in and gain ownership of projects, as well as transparently access relevant information . Decisions (again, in theory) do not fall to a third party (institution) that is ultimately the decision-maker.
On the website of Ethereum, the world's most widely used open source blockchain for application development, it describes web3 as a decentralized, permissionless internet with a native payment system and no need to trust third parties.
We have already explained the decentralized aspect. When they talk about permissions, they refer to the democratic element (everyone can participate). With native payments, they refer to the cryptocurrency element that facilitates economic transactions. Finally, with the trust in third parties ( trustless ), the process in which we get rid of the institutions that normally regulate and intervene is explained.
So far, the explanation is clear. However, it is important to navigate the details of these promises .
What web3 is NOT: The lie of democracy
Since its early years, blockchain has been dubbed as the panacea to the lack of democracy that exists in the technological world . The term “decentralization” has been used energetically, trying to explain that now we, the users, have the power and not the millionaires who run the venture capital firms ( VCs ) and the entrepreneurs who manage to get projects in the crypto space off the ground.
And it sounds very good: less power for large corporations and everything or almost everything for users .
