A Web3 domain, in simple terms, is a new type of internet domain that exists on a decentralized network, typically a blockchain. Unlike traditional domains, which are managed by centralized authorities, Web3 domains are owned and controlled by individuals through cryptographic keys, offering more security and privacy.
Web3 domains enable users to interact with decentralized applications (dApps) and services without needing to remember long, complex wallet addresses. Instead, a human-readable name (e.g., yourname.crypto) is used, making it easier to send and receive cryptocurrency, access dApps, or create decentralized websites.