Web3 Crypto

Let's examine together the building blocks of web3 in 1 minute!


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With this post, we are starting our new series “Explained”!

Web3’s revolutionary premise is based on three key elements: the blockchain, which records all information regarding asset ownership and the history of completed transactions; “smart” contracts, which represent application logic and have the ability to independently carry out specific tasks; and digital assets, which can represent anything of value and interact with smart contracts to become “programmable.” These three principles each have varying degrees of intricacy and complexity, and each is changing to address starting issues and structural flaws.

Let’s examine together the building blocks of web3 in 1 minute!

Source: Web3 beyond the hype – Sep 26, 2022 – McKinsey

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