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


'Hard' monetary policies aimed at raising interest rates to combat inflation.


Monetary policy characterised by low interest rates and higher levels of employment aimed at fostering economic growth.


Organisations that manage all information relating to top-level domains.


Stringa di caratteri associata in String of characters uniquely associated with a resource on the World Wide Web. univoca ad una risorsa sul World Wide Web.

IP address

Numeric strings that uniquely identify every resource to the network

Web 3.0

A term often associated with the idea of the 'Semantic Web' and data interoperability, it represents the next phase of the Internet.


Organisation that manages domain names on the Internet and assigns IP addresses.


Organisation that deals with the sale and registration of domain names.


Hierarchical server system that, on the Internet, associates each domain name with an IP address.


The domain extension placed at the end of a URL address,located at the highest point in the DNS hierarchy.

Financial Market

The financial market is a regulated space where financial securities can be bought and sold.


Cashback involves a partial reimbursement of funds spent in a transaction.


The longest-lived cryptocurrency on the market and the first application of blockchain.

Wallet address

The string of characters that identifies a cryptocurrency wallet.


Cryptocurrencies pegged to the price of a stable asset such as a fiat currency or precious metal.


Managing one's wallet by knowing its private key

White Paper

Technical and informative document used by cryptocurrency projects to present their technological proposal.


Software that allows you to send, receive and store your cryptocurrencies.

Virtual Currency

Term used in legislation to define cryptocurrencies.

Fiat Currency

Legal tender, i.e. the official currency adopted by a government.


Digital unit of value based on a third-party protocol.

Satoshi Nakamoto

The pseudonym of the creator or group of Bitcoin developers. Their true identity is unknown and they no longer have an online presence.


Open-source software is public and available for anyone to reuse.


Identity verification procedure required by European regulations for exchanges.

Hard Fork

A division of the blockchain due to the incompatibility of the new version of the protocol with the previous one.

Hot Wallet

A cryptocurrency wallet connected to the internet.


The halving of the reward given to miners for producing Bitcoin blockchain blocks.


A sector that combines finance and technology, where companies develop technologically innovative financial services.


The branch of computer science that studies secure communication methods.


Virtual currency based on cryptography and blockchain.


A cryptocurrency that is natively based on its blockchain

Public Key

Cryptographic code that identifies a wallet on the blockchain.

Private Key

Cryptographic code that gives access to a wallet.


Tools that simplify the development of apps and web services.


Cryptocurrencies that followed Bitcoin as alternative solutions.


Anti-money laundering regulations prevent illegal activities on centralised exchanges.


The procedure applied to solve a problem.


Services facilitating the purchase and sale of digital assets based on daily market prices.

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