What is Web3?

Web3 is the evolution of the Internet, marked by decentralization and the use of technologies such as blockchain. Unlike Web2, which is controlled by large companies and platforms, Web3 aims to empower users by allowing them to have control over their own data and online interactions. In this new era, the focus is on creating decentralized applications (dApps) that operate on blockchain networks, promoting greater transparency and security.

History of Web3

The transition from Web1, which consisted of static pages, to Web2, which introduced interactivity and user-generated content, culminated in the need for a new paradigm. The concept of Web3 began to gain shape in 2014, with the introduction of the term by Gavin Wood, co-founder of Ethereum. Since then, several initiatives have emerged to promote decentralization and the use of cryptocurrencies as a means of exchange and incentive.

Basic Technologies of Web3

The main technologies that support Web3 include:

  • The Blockchain:A data structure that enables secure and unchanged transactions.
  • The smart contracts:Self-executable contracts that operate on blockchain, facilitating transactions without intermediaries.
  • The Tokens:Digital representations of assets that can be used for a variety of purposes, from payments to incentives.
  • The Digital Identity:Solutions that allow users to control their online identities, ensuring privacy and security.

Impact of Web3 on Digital Finance

Web3 is transforming the financial sector by introducing new ways of interaction and transactions.

Strike and Lido

The Lido protocol, which stands out in the staking of Ethereum, showed a drop in its revenue, reflecting market volatility. By 2025, the projected revenue was $40.5 million, a 23% decrease. This demonstrates how revenue on staking platforms can be impacted by changes in the market and the need for platforms to adapt to stay competitive.

The Digital Euro and the Banks

The European Central Bank (ECB) argues that the introduction of the digital euro does not pose a threat to banks, but rather a strategic tool.This move seeks to combat the domination of large technology companies in the payment sector, demonstrating the importance of digital currencies for the future of the traditional financial system.

GameStop and the Bitcoin Options Strategy

Recently, GameStop allocated $315 million in Bitcoin to a covered call option strategy at Coinbase Prime. This approach aims to generate revenue from its digital assets, indicating how companies are exploiting the potential of cryptocurrencies not only as an investment but as a financial tool.

Oil and Crypto Trading

Wintermute has launched a 24/7 trading system for the oil market, integrating the crypto economy. This represents a significant step towards a more integrated financial market, where cryptocurrencies can operate in environments traditionally dominated by physical assets.

Secure and Regulation: The Bitmain Case

Bitmain, one of the largest manufacturers of Bitcoin mining hardware, is under scrutiny in Washington. Senator Elizabeth Warren raised concerns about national security related to the company. This type of regulation is an indication of how cryptocurrencies and their infrastructure are increasingly being integrated into security and public policy discussions.

FAQs

What is Web3?

Web3 is the third generation of the Internet, characterized by decentralization, the use of blockchain and greater user control over data and interactions.

What is the difference between Web2 and Web3?

Web2 is dominated by large platforms that control data and interactions, while Web3 empowers users and promotes decentralization.

How do cryptocurrencies fit in Web3?

Cryptocurrencies are a key part of the Web3, enabling secure transactions, incentives and the creation of decentralized applications (dApps).

What are Smart Contracts?

Smart contracts are self-executable contracts that operate on blockchain, allowing for intermediary-free deals and increasing transaction efficiency.

How can Web3 impact the financial system?

Web3 can transform the financial system by enabling new forms of interaction, such as staking, digital currencies, and decentralized trading.