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Web 3 and Its Connection to Cryptocurrencies

Web 3, or Web3, represents the next evolution of the internet, driven by blockchain technology and decentralization. Unlike the current centralized web (Web 2., where major companies control most data and services, Web 3 aims to give power back to users, enabling them to own and control their data, interactions, and assets.

Cryptocurrencies play a crucial role in this transformation. They act as the medium of exchange within decentralized applications (dApps) and platforms, such as decentralized finance (DeFi) and smart contracts. By removing the need for traditional intermediaries like banks, cryptocurrencies enable peer-to-peer transactions and greater financial inclusion.

Additionally, cryptocurrencies empower users to participate in the governance of decentralized networks through tokens, allowing them to have a say in the future direction of these projects. Web 3 and cryptocurrencies together promote a more open, secure, and user-centric internet, fostering greater privacy and freedom.