Web3 represents the next generation of the internet and is a concept of a decentralized network based on blockchain. It aims to change the way we interact and exchange data on the internet, making it more open, transparent, and user-controlled.

Key features of Web3 include the use of blockchain technologies, smart contracts, and decentralized applications (DApps). Instead of relying on centralized servers, Web3 utilizes distributed networks where participants can exchange data and value directly, bypassing intermediaries.

Cryptocurrencies and tokens are often part of the Web3 ecosystem, providing means of exchange and incentivizing participation in decentralized networks. One of the goals of Web3 is to create a more open and resilient internet where users have greater control over their data and interactions in the network.