A blockchain-based organization called the Web3 Foundation is committed to advancing new decentralized web software protocols, technologies, and applications. Gavin Wood, Ashley Tyson, and Peter Czaban created it in 2017. The web software protocols use cryptographic techniques to achieve decentralization, which is to the advantage and stability of the Web3 ecosystem.
The organization focuses on Web 3.0, which aims to build a more equal and decentralized internet where users are in control of their personal information and identities. The Web3 Foundation envisions a decentralized internet where information and value are transferred online. Users, not businesses, own their data, and international transactions are safe.