Web3 is the latest buzzword to see an uptick in interest in recent months — What does it actually mean?

Around the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Connor Dempsey, Angie Wang & Justin Mart.

A lot of definitions have been thrown around, but at Coinbase, we generally think of Web3 as a trustless, permissionless, and decentralized internet that leverages blockchain technology.

Web3’s defining feature is ownership. Whereas the first iteration of the commercial internet (Web1) was read-only for most users, and Web2 allowed users to both read & write on centralized platforms (Twitter, Facebook, YouTube, etc), Web3 gives users full ownership over their content, data, and assets via blockchains. It empowers users to read-write-own.

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