Web3: The Core Logic of the Next-Generation Internet — From “Using” to “Owning”

Web3 is often seen as “the next evolutionary form of the internet,” with its core being to enable users to truly control their own online rights and interests. Built on blockchain technology and governed collectively by global users, it breaks the centralized control of the internet by large tech companies. To understand Web3, we can first examine its revolutionary essence through the three stages of internet development.

1. The Three Iterations of the Internet: From “Read-Only” to “Ownable”

Web1 (Early Internet): The embryonic stage of the internet, dominated by static web pages. Users could only passively browse information with almost no room for interaction or content creation—equivalent to a network where you “can only look but not touch.”
Web2 (Current Mainstream Internet): Entered the interactive era of “readable and writable.” Social media and content platforms became central. Users can create content and engage socially, but platform data and user assets are always controlled by giants like Google and Facebook, with discourse power concentrated in a few companies.
Web3 (Next-Generation Internet): Achieves a comprehensive upgrade to “readable, writable, and ownable.” Users can not only interact and create but also truly own digital assets and data on the network. Web3 platforms adopt a decentralized architecture, managed jointly by the user community, no longer subject to absolute control by a single entity.

2. Clarifying Four Common Misconceptions About Web3

Misconception 1: Web3 is completely anonymous. In reality, it is pseudonymous—users are identified by blockchain addresses without real-name requirements, but all transaction records are public and permanently traceable, and on-chain behavior may be tracked and linked.
Misconception 2: Web3 projects are inherently decentralized. Many projects still have centralized features in their early stages and will gradually decentralize through “progressive decentralization.” When evaluating, focus on core permissions: who controls keys, upgrade rights, frontend control, and governance rights.
Misconception 3: Wallets and exchange accounts are the same. The key difference lies in “control”: self-custody wallets give you full control over private keys and assets; exchange accounts are mostly custodial, with assets held by the platform—convenient but requiring a trade-off in control.
Misconception 4: Connecting a wallet is completely risk-free. When connecting to a DApp, it requests access permissions—only sign operations you fully understand, regularly check and revoke unnecessary authorizations to avoid asset risks.

3. The Core of Web3 Ownership: Wallets Are More Than Just “Piggy Banks”

The core advantage of Web3 lies in enabling users to truly own digital assets through crypto wallets. A wallet’s role goes far beyond storing cryptocurrencies—it’s more like your “digital ID” for entering the Web3 world:

It holds your cryptocurrencies, NFT collections, game items, and other assets while serving as an identity credential for logging into Web3 applications. In the Web3 ecosystem, there’s no need for traditional usernames and passwords—just connect your wallet to prove identity via your address and directly access various applications.

You alone control the private key, meaning only you can operate the assets in the wallet—this forms a fundamental difference from Web2: in Web2, platforms can arbitrarily block your account or delete your data; in Web3, as long as you securely store your private key, your digital assets and identity are forever under your control.

4. Five Mainstream Web3 Wallets: Tailored to Different Use Cases

There is no one-size-fits-all “best wallet”—it depends on the blockchain you use, device type, and preference for mobile or browser. Here are five commonly used universal wallets:

MetaMask: Supports browser extensions and mobile apps, compatible with EVM chains (Ethereum, Polygon, Arbitrum, etc.), and works with most DApps. As of early 2024, monthly active users exceeded 30 million, with new default security alerts enhancing safety.
Trust Wallet: Focuses on a simple multi-chain mobile experience, also supports browser extensions, and is compatible with over 100 blockchains—ideal for beginners. However, verify its claimed user base and multi-chain support with third-party sources.
Phantom: Originally designed for Solana, offering fast swaps and NFT management, now supports multiple chains (including Ethereum and Bitcoin). According to its 2024 official annual report, it has about 10 million monthly active users and is highly suited for Solana ecosystem users.
Coinbase Wallet: Self-custodial, seamlessly integrates with the Coinbase ecosystem, and excels in NFT support for chains like Ethereum, Base, Optimism, Polygon, and Solana. Setup and import are user-friendly, ideal for Coinbase ecosystem users.
Gate Wallet: Multi-chain compatible with a built-in DApp center, airdrop zone, and task page, designed for on-chain exploration. If you already use Gate exchange or related services, this wallet is an ideal bridge to the ecosystem.

Tip: Regardless of the wallet, master seed phrase backup and recovery, and regularly check DApp access permissions. Use different wallets for different scenarios—one for testing new features, another for storing large assets—to reduce risk.

Take the popular MetaMask as an example: when visiting a Web3 site (like a decentralized game or NFT marketplace), the site requests wallet connection—confirm in a few steps to log in without providing name, phone, or other private info. Your wallet address is your sole identity. MetaMask alone has over 30 million monthly active users, proving that “wallet login” has become the mainstream access method for Web3.

5. The Core Carrier of Web3: Decentralized Applications (dApps)

The real-world value of Web3 depends on decentralized applications (dApps). These applications do not rely on traditional centralized servers but run on blockchain networks, with core logic and data stored on-chain and managed via “smart contracts” (self-executing programs).

This means no single company can control a dApp’s ultimate authority—its operation is maintained by code rules and the community. On the surface, dApp interfaces are similar to regular apps, but they interact with smart contracts on the blockchain, ensuring transparency and traceability.

dApps have already landed in real use cases:

Decentralized Finance (DeFi): Lending and token swaps via smart contracts without bank intermediaries;
Blockchain Games: In-game items are digital assets on the blockchain—you can freely trade and permanently own them without platform deletion;
Decentralized Social: Personal profiles and content stored on distributed networks, with data control in your hands.

Typical examples include: Uniswap (token trading directly via smart contracts without centralized exchanges), OpenSea (the world’s largest NFT trading dApp where users freely buy and sell digital collectibles). The core highlight is that dApps turn you from a “platform user” into a “rights owner”—not only controlling assets but also potentially gaining governance rights and value dividends through platform tokens.

6. The Current State and Vision of Web3

It must be clear that Web3 is still in its early stages—not all projects labeled “Web3” achieve full decentralization, and many areas need improvement. But its core vision remains unchanged: to build an internet centered on “ownership.”

Through blockchain technology, Web3 creates scarce digital assets (cryptocurrencies, NFTs, etc.) and uses decentralized mechanisms to ensure no entity can arbitrarily deprive or censor your assets and data. Essentially, Web3 “empowers users”—letting you directly control data and assets, protect privacy, and share in platform growth benefits, rather than just being a “traffic product” for big tech companies.

By understanding Web3’s ownership logic, wallet operations, and dApp core mechanisms, you’ve already grasped the key direction of internet transformation. Next, we’ll explore the “metaverse” closely tied to Web3—seeing how these decentralized concepts further land in virtual worlds and immersive experiences.