> For the complete documentation index, see [llms.txt](https://doc.giveaway.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://doc.giveaway.com/web3-knowledge/what-is-web3.md).

# What is Web3?

**Definition**: Web3 is the next phase of the internet, built on blockchain technology. It decentralizes control, empowering users to own their data and transactions.<br>

**Why It Matters**: Web3 ensures transparency, fairness, and user ownership—values at the core of Giveaway.com.