Have you heard about the new Web3 internet buzzword? Its precise meaning is still being worked out, but it tries to define the future of online interactions, which would ideally empower internet users without having to access major platforms such as Microsoft, Google, and Facebook. The goal is to decentralize things, and this meas building decentralized social networks and payment systems that function without a central point of failure.

An example of the direction in which Web3 will take us can be seen in the recent acquisition of BRD, a cryptocurrency wallet developer, by leading exchange platform Coinbase. BRD has been working on projects that intend to provide a custodial service for digital assets, funds, and cryptocurrency investment portfolios, but the service would somehow operate in a decentralized fashion. The utility token that BRD issues to facilitate transactions across its wallets and projects jumped by 500% in the hours following the announcement made by Coinbase.

In the world of digital currencies, Web3 expands upon the growing field of decentralized finance (DeFi) technology. While there’s many a crypto expert out there who has put a lot of energy into researching decentralized applications and blockchains, very few have made an effort to educate developers on the basics of decentralized web development and Web3 development.

As a matter of fact, while much of the web still operates on the back-end with servers and databases, the front-end side of websites is rapidly moving towards becoming decentralized, and it can be achieved thanks to blockchain technology, Web3 tools, and decentralized applications. As a matter of fact, a lot of websites we use every day already allow users to send funds directly from one website to another in a way that’s decentralized, but the technology is being implemented in an unnoticeable way.

Web3 aims to break away from the current silos on the internet, the current centralized services that monopolize digital communications and interactions in the name of profits. There is already a development framework that is heavy on JavaScript, but which is rapidly adding libraries that focus on decentralized services. Cloud computing will continue to be the backbone of Web3, but the emphasis would be on blockchain connectivity.