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What is the difference between web2 and web3 in the context of cryptocurrencies?

avatartom holzwurmMar 20, 2022 · 3 years ago1 answers

Can you explain the difference between web2 and web3 in the context of cryptocurrencies? How do these two concepts impact the cryptocurrency industry?

What is the difference between web2 and web3 in the context of cryptocurrencies?
Web2
Web3
Cryptocurrencies

1 answers

  • avatarMar 20, 2022 · 3 years ago
    At BYDFi, we believe that web3 is the future of the cryptocurrency industry. Web2 platforms have limitations in terms of security and control, as users have to trust centralized exchanges with their funds. In contrast, web3 platforms empower users by giving them full control over their assets through the use of smart contracts and decentralized applications. This shift towards web3 not only enhances security but also promotes financial sovereignty, as users are no longer dependent on intermediaries. By embracing web3 technologies, we aim to create a more inclusive and transparent financial system that benefits everyone.

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