Question 1

What is web3?

Accepted Answer

Web3 is a new paradigm for applications on the internet. It represents the third era of the web. The first era (web1) was read-only, the second era (web2) was read-write, and this third era, web3, is read-write-trust. Web3 allows users to interact directly without intermediaries. It's often associated with the decentralized web, where applications run on blockchain technology.

Question 2

How is web3 different from the traditional web (web2)?

Accepted Answer

Web2 relies on centralized servers and platforms, whereas web3 is decentralized. In web2, user data is stored and controlled by platform providers (like social media platforms or online service providers). In web3, users have more control over their data, transactions are transparent and immutable, and there's a shift from trusting centralized entities to trusting code and consensus algorithms.

Question 3

How does blockchain technology relate to Web3?

Accepted Answer

Blockchain technology provides the underlying decentralized infrastructure. It enables secure and transparent transactions, data storage, and identity verification without relying on a central authority.

Question 4

How can I participate in Web3 projects and earn cryptocurrency?

Accepted Answer

There are several ways to get involved in Web3 and earn cryptocurrency. You can participate in decentralized finance (DeFi) protocols by providing liquidity, yield farming, or staking your tokens. Additionally, you can support blockchain networks by becoming a validator or node operator. Always do thorough research and exercise caution when engaging in Web3 projects.

Question 5

What are the main challenges to adopt Web3?

Accepted Answer

The main challenges to the adoption of Web3 are user experience, scalability, interoperability, security, regulation, energy consumption, education, legal frameworks, financial inclusion, and infrastructure development.

Question 6

How does web3 enhance privacy and security for users?

Accepted Answer

Web3's decentralized architecture minimizes single points of failure, making it more resistant to attacks than centralized systems. Additionally, blockchain's transparent and immutable nature ensures data integrity. Users maintain control over their private keys, which means they have ownership of their data, reducing the chances of unauthorized access and data breaches common in centralized platforms.

Question 7

Why are decentralized finance (DeFi) platforms associated with web3?

Accepted Answer

DeFi platforms leverage web3 technologies, particularly blockchain and smart contracts, to recreate traditional financial systems (like lending, borrowing, and trading) in a decentralized manner, without intermediaries. This decentralization brings about transparency, accessibility, and often reduced fees, aligning with the ethos of web3 to democratize access to services.

Name	Price	24h %

PolkadotDOT	$6.5	-2.53%
ChainlinkLINK	$13	-2.76%
Internet ComputerICP	$11.86	+0.73%
FilecoinFIL	$5.35	-4.30%
The GraphGRT	$0.2662	-4.26%
StacksSTX	$1.9	-5.62%
Theta NetworkTHETA	$1.92	-3.03%
InjectiveINJ	$21.4	-5.26%
RenderRNDR	$10.08	-10.40%
ConfluxCFX	$0.1968	-4.97%
CasperCSPR	$0.02676	-2.49%
BitTorrent (New)BTT	$0.{5}1150	-2.69%
ArweaveAR	$39.23	-0.43%
Basic Attention TokenBAT	$0.2229	-6.38%
LoopringLRC	$0.2418	-0.37%
Ethereum Name ServiceENS	$13.38	-2.98%
HeliumHNT	$4.57	-3.99%
Mask NetworkMASK	$3.1	-2.27%
Akash NetworkAKT	$5.21	-6.35%
LivepeerLPT	$17.29	-3.06%
Ocean ProtocolOCEAN	$0.8465	-5.21%
Fetch.aiFET	$2.01	-5.28%
AudiusAUDIO	$0.1505	-2.04%
AragonANT	$7.31	-2.11%
GolemGLM	$0.5018	-6.61%
SiacoinSC	$0.006636	+0.29%
Band ProtocolBAND	$1.35	-1.52%
HiveHIVE	$0.3104	-2.50%
OntologyONT	$0.2907	-6.25%
KadenaKDA	$0.7809	-0.97%
Nervos NetworkCKB	$0.01468	-4.09%
HorizenZEN	$8.09	-2.26%
API3API3	$2.16	-4.85%
FluxFLX	$0.8426	-2.76%
CyberConnectCYBER	$7.35	-3.04%
OriginTrailTRAC	$0.7638	-7.24%
StorjSTORJ	$0.4929	-3.37%
iExec RLCRLC	$2.94	-2.38%
SteemSTEEM	$0.2632	-2.04%
CivicCVC	$0.1602	-2.05%
RadworksRAD	$1.68	-2.96%
MarlinPOND	$0.01897	-7.89%
NKNNKN	$0.1031	-3.43%
ChromiaCHR	$0.2833	-2.19%
OrchidOXT	$0.09228	-3.13%
GitcoinGTC	$1.11	-5.21%
Artificial Liquid IntelligenceALI	$0.01503	-8.24%
Phala NetworkPHA	$0.1668	-6.32%
BraintrustBTRST	$0.8059	+0.30%
XYOXYO	$0.007334	-4.71%

Top Web3 tokens by market capitalization

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