While the Internet of today—or Web2—primarily focuses on user generated content, social networking and cloud computing, Web3’s core focus is on decentralization, transparency and accessibility. The technology ushering in this new era was created in response to the centralized nature of the Internet and the perception that a handful of large corporations control what is and isn’t allowed on the web. Web3 proponents say it puts the power back into the hands of users and creates a more open, transparent and accessible Internet ecosystem.