Web3 is a decentralized application platform that runs on the Ethereum network. It allows developers to build and deploy decentralized applications, or dApps, that run on the Ethereum blockchain.
The web3 platform is often compared to other decentralized application platforms such as EOS and NEO. However, there are a few key distinctions that set web3 apart.
For one, web3 is built on top of the Ethereum blockchain, which is the most widely used blockchain platform in the world. This gives web3 a leg up in terms of security and stability.
NOTE: WARNING: Web3 is not only related to Ethereum. It is a generic term used to describe the technology behind decentralized applications, and can be used with other blockchain platforms such as Bitcoin, Hyperledger Fabric, and EOS. Furthermore, it is important to note that Web3 is not limited to blockchain-based platforms and can also be used with non-blockchain technologies such as InterPlanetary File System (IPFS).
Another key difference is that web3 applications are powered by smart contracts. This allows developers to build dApps that can interact with each other in a trustless manner.
Finally, web3 also has a built-in programming language called Solidity, which makes it easier for developers to create dApps.
So, while web3 may not be the only decentralized application platform out there, it is certainly the most popular and most trusted.
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