# Web3

*Crypto & Digital Assets — Finicade finance glossary*

Web3 is the idea of an internet where users own their data, identity and assets through blockchain-based credentials rather than platform accounts. The critique is that most Web3 applications still depend on centralised infrastructure — hosted front-ends, custodial wallets, a handful of node providers — so the ownership is partly notional. The strongest surviving version of the idea is portable identity and assets across applications.

**Also known as:** web 3.0, decentralised web

**Related terms:** [DAO](https://finicade.com/glossary/dao), [NFT](https://finicade.com/glossary/nft), [DeFi](https://finicade.com/glossary/defi), [Smart Contract](https://finicade.com/glossary/smart-contract), [Blockchain](https://finicade.com/glossary/blockchain)

Source: https://finicade.com/glossary/web3