Web3 development refers to the creation of decentralized applications (dApps) and platforms using blockchain technology and decentralized protocols. Here's a brief overview of key components and technologies involved in Web3 development:

1. **Blockchain Platforms**: Ethereum is the most commonly used blockchain platform for Web3 development, but other platforms like Polkadot, Binance Smart Chain, and Solana are also gaining popularity.

2. **Smart Contracts**: These are self-executing contracts with the terms of the agreement directly written into code. Solidity is the most common programming language for writing smart contracts on the Ethereum platform.

3. **Decentralized Finance (DeFi)**: DeFi applications enable financial services such as lending, borrowing, trading, and yield