Blockchain is the foundation for Web3, especially since it transforms the structure of data in the backend of the web. The main feature that makes it the foundation for Web3 is decentralization.

Web3 and blockchain technologies are closely related as Web3 tech uses decentralized technologies to establish secure and transparent systems for interacting with the internet.

Blockchain and Web3 are key parts of the emerging digital economy. By employing these powerful technologies, organizations can take advantage of faster transactions, better security, enhanced transparency, and cost savings. As blockchain offers cryptographic proof of a series of transactions, its use in Web3 is critical, particularly in terms of boosting trust among users.

Technically speaking, Web3 is an assortment of blockchain-based protocols that aims to change the wiring of the internet’s backend.

Blockchain and cryptocurrencies are working to further the Web3 revolution, as their goal is to facilitate permissionless, decentralized, and trustless interactions.