What is Web3?
The web keeps evolving. It started with static web pages, became social and interactive, and Web3 is the next big evolutionary step.
Web1 could be defined as the first version of the internet, think 1994-2004. Usage was limited to browsing static pages (like reading a digital newspaper).
Internet became interactive and social. Also, it became centralized and owned by a few big businesses ('Big Tech').
Web3 is the vision of a decentralized internet that gives users back control of their data, identity and assets.
Web3 in a nutshell
Focus on decentralization
The next generation of internet – an internet owned and operated by its users. It’s still in its early stages, and no one knows for sure how it will evolve, but a key element of Web3 is a focus on decentralization and privacy.
Ownership paradigm shift
This shift of digital ownership from companies to users, which can coordinate bottom-up to operate with their own unique economies like sovereign nations, but in the cloud.
What is the blockchain?
Web3 is only possible with the blockchain - read why
The blockchain in a nutshell
The crucial technology behind Web3
Blockchain serves as a common source of truth without relying on a centralized party that controls it. It is a digital ledger of transactions that is duplicated and distributed across a large network of independent computers. This means there is no single point of failure, and no authority can simply turn it off.
An immutable ledger
All data changes on the blockchain are visible to everyone, immutable and they follow predefined rules. The first usage of blockchains was Bitcoin, a uncensorable digital currency. Ethereum introduced the concept of smart contracts, which NEAR has re-invented to be more scalable, simple climate-neutral.
What is NEAR?
NEAR is the next generation of blockchains. It enables to bring Web3 to the masses.
NEAR in a nutshell
A layer 1 blockchain
NEAR is a Layer 1 blockchain, meaning it is not dependent on other chains. It uses a unique scaling mechanism (Nightshade sharding) and makes it especially easy to onboard new users (e.g. through named accounts). It opens the door to mass adoption for Web3.
A building platform