The crypto craze has engulfed the world. Each day, we are bombarded with news of startups, scams, stories of overnight riches and celebrity endorsements related to these blockchain projects. Today, there is a new trend bubbling in the pond of the digital word. One that promises to revolutionize the way we use the Internet (yet another product in the deluge of technology declaring disruption of the status quo) while solving a host of problems facing the global network today. In this article, we explore Web3, it's origins, promises made by proponents and its wider implications for users in the developing world.
A specimen of the non-fungible token ()NFT. Various media in the form of NFTs have sold for thousands of dollars
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In recent years, blockchain concepts have exploded in popularity with many new ones emerging and entering our lexicon. To illustrate, the non-fungible token (NFT)was a topic of much discussion in the early 2020s. Now, it is Web3 that is causing the tongue-wagging. In fact, many companies have thrown their hats in the ring for the new project among them giants like Google and Facebook. There is no lack of underdogs in this race as fledgling startups like Alchemy and Infura are among the leaders laying the groundwork. But like the NFT, many do not understand what Web3 is. In spite of the many explainers circulating online, people are still quite perplexed. So what is Web3?
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