These are the first 56 words of the article: > "Web3 is an idea for a new iteration of the World Wide Web based on blockchain technology, which incorporate con

These are the first 56 words of the article: > "Web3 is an idea for a new iteration of the World Wide Web based on blockchain technology, which incorporate concepts such as decentralization and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as 'Big Tech'." The first sentence is vague. The existing Web also incorporates concepts such as decentralization and token-based economics. The second sentence is a social/political characteristic, not a technical one. There is no reason the Web must be an oligopoly. Similarly, there's no reason "web3" must not be one. So we're still left without a 50-word description of web3. The above is a vague statement followed by an aspirational (rather than descriptive) statement.