# Web3

> A loose label for the part of the internet built on blockchains, wallets, and tokens.

Canonical URL: https://fudfomo.co/glossary/web3
Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co.

## Definition

Web3 is shorthand for an idea of an internet where users own their data and assets through wallets, not through accounts on big platforms. In practice it covers crypto wallets, decentralised apps, NFTs, DAOs, and identity systems built on chains.

The term is contested. Critics argue much of what calls itself Web3 is still hosted by centralised companies. Supporters point to the parts that genuinely cannot be shut down by a single party.

## Related terms

- [DApp](https://fudfomo.co/glossary/dapp): A decentralised application. A web app whose backend logic runs on smart contracts.
- [DeFi](https://fudfomo.co/glossary/defi): Decentralised finance. Apps that offer lending, trading, and saving on a blockchain instead of through a bank.
- [DAO](https://fudfomo.co/glossary/dao): Decentralised autonomous organisation. A group whose decisions and treasury are managed on a blockchain.
- [Wallet](https://fudfomo.co/glossary/wallet): An app or device that holds the keys you need to spend and receive crypto.

## See the full catalogue

What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co