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Have you ever heard someone saying
“If you understand crypto, you already understand Web3”
I thought so too.. at first I often used both interchangeably and now that I think about I must have embarrassed myself a lot..lol
Crypto ≠ Web3
I’d rather put it this way
crypto is part of Web3 but it’s more like the foundation not the whole building.
Let’s get the terminology right first because this is where the mix up usually begins
Crypto (cryptocurrency)
Crypto refers to digital assets built on blockchain networks that are mainly used for value and finance.
This includes; buying and selling coins, trading, DeFi, payments and storing values
Now…
Web3
Web3 is the broader idea of a new internet built on blockchain technology. It’s not just about money it’s about ownership, control and decentralization.
So instead of just being a user, you can actually own part of the system.
The easiest way to understand it:
Crypto is a part of Web3.
But Web3 is not limited to crypto.
Once you separate these two a lot of things start to make more sense.
What’s your take do you still see them as the same thing or do you think the gap is bigger than people realize?
I would be in the comments 💙
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