Web3 Foundation

November 21, 2023 - Around 2 mins mins to read

What Is the Web3 Foundation?

The Web3 Foundation is an organization dedicated to advancing the development of decentralized web software protocols. These protocols utilize cryptographic methods to ensure decentralization, which is essential for the stability and growth of the Web3 ecosystem.

The Web3 Foundation Council is composed of Dr. Gavin Wood, the founder, along with Dr. Aeron Buchanan and Reto Trinkler.

The primary focus of the foundation is on the development of Web 3.0, which aims to create a decentralized and fair internet where users have control over their personal data and identity.

The Web3 Foundation advocates for an internet where individuals, rather than corporations, have ownership of their data, where global transactions are secure, and where the exchange of information and value is decentralized.

The Web 3.0 technology stack consists of multiple layers. Layer 4 is the browser, which serves as the protocol-extensible user-interface framework. Layer 3 includes protocol-extensible developer APIs and languages. Layer 2 encompasses state channels, plasma protocols, encrypted storage, heavy computation, distributed secret management, and oracles.

Layer 1 consists of zero or low trust interaction protocols like Bitcoin (BTC) or Ethereum (ETH), parachains, data distribution protocols, and transient data pub/sub messaging.

Lastly, layer 0 comprises zero or low trust meta protocols such as Polkadot, peer-to-peer (P2P) internet overlay protocols, and a platform for natural language.

Glossary