Web3
Web3
Web3 is a restructuring of the internet that places ownership and operation into the hands of users themselves, thus changing the structure from organization-centric to user-centric.
Web3 proposes several changes to the existing web architecture:
- Users own their data and are responsible for their data, data security, and data privacy.
- Decentralized and distributed systems are used, and users can host and run applications.
- Applications and organizations request data directly from users.
- Users can supply applications and organizations with actual data or verifiable credentials/verifiable presentations of their data or choose to deny applications and organizations access to their data.
- Applications and organizations may offer incentives for users to provide data.
- Data can be tokenized and transferred directly between users.
- Application execution and transaction fees are paid for with web-native currencies (e.g., cryptocurrencies).
- Users who execute application logic and maintain the state of systems can receive payment in web-native currencies (e.g., cryptocurrencies).
Source: NIST IR 8475 | Category: