Web3 Concepts

Simple side-by-side comparisons for the ideas that show up everywhere in crypto, Ethereum, and Layer 2 ecosystems.

Web2

  • Centralized platforms
  • Companies own your data
  • Username and password login
  • Can be censored by operators
VS

Web3

  • Decentralized blockchain networks
  • Users own their data and assets
  • Wallet-based identity
  • Designed for censorship resistance

Bitcoin

  • Digital currency
  • Store of value focus
  • Limited scripting
  • Proof of Work consensus
VS

Ethereum

  • Programmable blockchain
  • Smart contracts
  • DeFi, NFTs, DAOs, and apps
  • Proof of Stake consensus

Public Key

  • Your wallet address
  • Safe to share publicly
  • Like an email address
  • Used to receive funds
VS

Private Key

  • Secret recovery code
  • Never share it with anyone
  • Signs transactions
  • If lost, funds can be gone forever

Traditional Database

  • Centralized ownership
  • Editable by administrators
  • Fast reads and writes
  • Single point of failure
VS

Blockchain

  • Decentralized network
  • Immutable transaction history
  • Usually slower than databases
  • No single point of failure