The term Web3, coined in 2014 by Gavin Wood, co-founder of Ethereum and developer of Polkadot, is used to refer to next-generation digital innovations and their applications on the internet that lay their foundations on blockchain technology.

This definition is also used to denote a phase of the Internet: the evolution of the network has been marked by a succession of eras (that of Web 1.0, from about 1990 to 2005, and that of Web 2.0, from 2005 to the present). However, this is not quite correct, as there is a substantial difference between Web3 and Web 3.0.

In Web3, in fact, the claim of ownership of digital goods, digital identity and decentralisation of data are given utmost importance. The transition to the new era is not yet complete; at the moment, Web3 exists as a set of shared ideas about the future of the Internet and initial experiments in this regard.

The meaning of the term itself is still under construction: the definition of Web3 has wide boundaries and is used to refer to many different aspects, all of which have in common the specific technology of this phase of the internet, the blockchain. Web3 aims to put blockchain at the basis of all existing technologies, from the internet to artificial intelligence and the Internet of Things.

The key issues are therefore decentralisation and content ownership. The opportunities offered by Web3 represent the golden age of content creators and artists: at this stage, everything you produce on the Internet is yours and you can decide how and whether to monetise it.

The great limitation of Web 2.0 is mainly related to centralisation: although users are free to interact with each other and to create and share content, this must be subject to the regulations imposed by the various web platforms where it is published.

Users often find themselves forced to remove or edit content to avoid censorship or banning.

With the introduction of new tools, Web3 will allow the user to move more freely on the Internet, such as:

  • NFTs, non-fungible tokens that allow one to authenticate ownership of content on the blockchain or to create and assert one’s digital identity on the network (through, for instance, the use of NFT Domains)
  • Smart contracts are software based on blockchain technologies that enable the tracking and management of cryptocurrency exchange. Thanks to smart contracts, transactions can be carried out without the need for centralised intermediaries and can be accessed by anyone as they are transcribed immutably on the blockchain. These tools promote not only decentralisation and privacy, but also the transparency that characterises the Web3;
  • Decentralised applications (dApps) are open source applications based on smart contracts. Within these systems, users have full control over their activities.
  • DAOs: to enable creators to have equal authority within the platforms for the creation and distribution of their works.

Thanks to Web3, the Internet will be owned by those who create its value and will be managed using blockchain tools, laying the foundation for the realisation of an ownership economy. The pioneers of this type of economy are precisely cryptocurrencies, since their value is not in the hands of a central authority, but in those of all those who own it.

Correlated words


Hawkish monetary policies involve raising interest rates to combat inflation, prioritising monetary stability and economic control.


Dovish monetary policy is characterised by low-interest rates and higher employment levels, aiming to stimulate and foster economic growth.


Registries are organizations overseeing the administration and management of top-level domain information on the internet.


A URL (Uniform Resource Locator) is a unique string of characters that provides the address of a specific resource on the World Wide Web.

IP address

An IP Address is a unique numerical label assigned to each device connected to a network, identifying it for communication purposes.

Web 3.0

Web 3.0, often linked to the Semantic Web, signifies the next evolution of the internet, emphasizing data interoperability and user control.


ICANN (Internet Corporation for Assigned Names and Numbers) manages the global domain name system and IP address allocation.


Registrars are organizations responsible for the registration and management of domain names on the internet.


The Domain Name System (DNS) is a hierarchical structure that maps domain names to their corresponding IP addresses on the internet.


The Top-Level Domain (TLD) is the highest part of the domain name structure, appearing at the end of web addresses.

Financial Market

The Financial Market is a structured space for trading financial securities, including stocks, bonds, and other investment vehicles.


Cashback is a reward program where a portion of the amount spent on a transaction is returned to the spender.


Bitcoin is the first and most enduring cryptocurrency, introducing blockchain technology as a revolutionary digital ledger system.

Wallet address

The Wallet address is a unique string of characters identifying a cryptocurrency wallet for transactions and asset management.


Stablecoins are cryptocurrencies whose value is pegged to stable assets like fiat currencies or precious metals, aiming to reduce volatility.


Custody in cryptocurrency involves managing a wallet by oneself, ensuring control over the associated private key.

White Paper

A White paper is a detailed document used by crypto projects to outline their technological innovations and proposals.


A Wallet is a digital software designed for securely sending, receiving, and storing various cryptocurrencies.

Virtual Currency

Virtual Currency is a legal term encompassing digital currencies, including cryptocurrencies, used in various financial transactions.

Fiat Currency

Fiat Currency is government-issued legal tender, not backed by physical commodities, serving as the standard medium of exchange.


A Token is a digital asset created on an existing blockchain, representing value or utility within its native ecosystem.

Satoshi Nakamoto

Satoshi Nakamoto, the pseudonymous creator(s) of Bitcoin, remains a mystery with no known true identity and no current online presence.


Open-source software offers publicly accessible source code, allowing collaborative use, modification, and distribution.


KYC (Know Your Customer) is an identity verification process mandated by European regulations for Financial intermediaries.

Hard Fork

A Hard Fork represents a significant split in a blockchain due to protocol incompatibilities between new and existing versions.

Hot Wallet

A Hot Wallet is a cryptocurrency wallet that remains connected to the internet, offering easy access and management of digital assets.


Halving refers to the event where the reward given to miners for producing blocks on the Bitcoin blockchain is cut in half.


FinTech combines finance and technology, where companies innovate in financial services using advanced technological solutions.


Cryptography, a crucial component of secure communication, is the study and application of techniques for protecting information.


Cryptocurrency is a digital or virtual currency using cryptography for security, operating on a decentralised blockchain system.


A Coin is a primary form of cryptocurrency that operates independently on its blockchain, serving various transactional purposes.

Public Key

A Public Key is a unique cryptographic code for identifying a blockchain cryptocurrency wallet and is associted with a private kwy..

Private Key

A Private Key is a unique secure cryptographic code granting access to a cryptocurrency wallet and is associated with a public key.


APIs (Application Programming Interfaces) streamline the development of applications and web services by integrating functionalities.


Altcoins are cryptocurrencies launched after Bitcoin, offering alternative blockchain-based solutions and functionalities.


Anti-Money Laundering (AML) regulations are designed to prevent illegal activities and financial crimes in centralised exchanges.


An algorithm is a set of procedures or rules designed to perform specific tasks or solve problems integral to software development.


Exchanges provide services for buying and selling digital assets, operating on market-driven prices and facilitating cryptocurrency trade.

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