Web3
Think of Web3 like the next generation of the internet, where users are in control of their own data, identity, and transactions. It’s decentralized, meaning no single entity controls it.

Cryptocurrencies
Ethereum, Bitcoin, Solana, and others are like currencies INR, USD, YEN. They’re digital money that uses cryptography for secure financial transactions.

Blockchain
A blockchain is like a digital ledger or record book that’s shared across many servers (nodes) around the world. Every time you make a transaction, it’s like writing in a page of this ledger, and everyone gets an updated copy.

Digital Identity
To interact with Web3, you need a digital identity:

• Public Key: like your UPI ID or bank account number. Share it with others to receive digital assets.
• Private Key: like the PIN for your ATM card. Keep it secret to access and manage your digital assets. Wallets Metamask is like your ATM card that you use to withdraw money from your wallet or bank account.

Decentralized Infrastructure
The backbone of Web3 is decentralized infrastructure:

• Ethereum Virtual Machine (EVM): like bank servers that update your account balance after transactions.
• Nodes: a network of bank servers across the globe that are always in sync with recent transactions.

Decentralized Applications (dApps)
dApps are like bank mobile apps that you use to manage your accounts, check balances, transfer funds, pay bills, etc.

Smart Contracts
Smart Contracts are like automatic vending machines that complete transactions without manual intervention or middlemen. You put in conditions, and it delivers the result automatically.

Decentralization
Decentralization is like a democracy like India, where power is spread out among many computers or users, making the system more fair and secure.

This is just the tip of the iceberg, but Web3 has many more exciting possibilities to explore.

Thanks for reading :)