Cryptocurrency, non-fungible tokens, stablecoins, decentralized finance and more are all incorporated into the next generation of the internet called Web3.
, according to venture capitalist Joe Lonsdale, as mainstream products have yet to materialize despite heavy cash investments.WATCH MORE FOX NEWS DIGITAL ORIGINALS HERE
Decentralization, a key feature of blockchain, distributes the responsibilities of key internet functions such as server control, transaction confirmation, and time stamping to a network of users rather than Decentralized digital infrastructure — such as cryptocurrency like Bitcoin and non-fungible tokens — are designed to be key components of Web3 and would be necessary for its function.
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