Web3 and Blockchain for Beginners
Web3 is more than just a tech buzzword. It’s a fundamental shift in how we use the internet. Your first exposure to Web3 may have been when NFTs exploded onto the market in 2021, driving Bitcoin’s price to new heights. Suddenly, we were hearing about blockchains, cryptocurrency, and tokenized assets on the daily. But what even is Web3, blockchains, and Bitcoin, and why does it hold so much value? It can be hard to wrap your head around Bitcoin- an intangible digital asset with a market cap of over $2 trillion USD! Luckily, .locker has partnered with Dynadot to answer all of your burning Web3 questions.
What is Web3?
You may not realize it, but the internet that you know is considered “Web2.” Web2 is a platform of user-generated content on dynamic platforms, like blogs, websites, and social media. Anyone with access to the internet can carve out their own unique space online that is completely separate from any other user. Records that exist on Website A do not necessarily exist for Website B. This means each service provider you engage with individually manages their products, their customers, and their data within their own ecosystem. It’s up to them to determine how they are going to protect your data and what they are going to do with it.
On the other hand, Web3 is a decentralized network model that leverages blockchain technology. Let’s break that down further to really understand the implications. At the highest level, a decentralized network means individual users are empowered to maintain ownership over their identities, information, and activities without the interference of third parties. On Web3, no one stores identifying information besides yourself, not even transaction records. We’ve seen data breaches, hacks, and the exploitation of personal data become rampant on Web2. Your name, address, social interactions, and banking information are all inherently at risk when you give control to someone else. Of course service providers are continuously implementing new strategies to prevent threats, but what if those security concerns were simply erased? That’s the beauty of Web3 and the self-sovereign identities it supports!
Now that we have decentralization down, we can layer in the concept of blockchains. When people talk about Web3, they’re talking about blockchain technology. Blockchains are defined as a system in which a record of transactions is maintained across computers that are linked in a peer-to-peer network. All computers, or nodes, must maintain the same exact record of activity for the blockchain. Records cannot be changed, and actions cannot be reversed. This creates a single source of truth for all transactions happening on the entire network. Information is not fragmented like it is on Web2, and tampering with transactions is next to impossible.
Decentralization and blockchain technology go hand-in-hand; you can’t have one without the other. They have flipped the script on today’s financial market structure, data security, and what it means to truly have ownership of your online activity. It’s why blockchains like Bitcoin have gained momentum, and why the digital asset Bitcoin has a price of over $115,000 for 1 BTC as of July 2025.
What is a digital asset? Is it the same as cryptocurrency?
Many people lump all digital assets under the term “cryptocurrency” but in reality, a digital asset can be more than just Bitcoin. Digital assets include non-fungible tokens (NFTs), memcoins, or any other tokenized asset on the blockchain. Tokenized assets can represent real physical assets and their value, and by being on the blockchain, they can benefit from increased security and immutability. This means even tangible assets can have a place on the blockchain, completely changing the definition of digital ownership.
Do I need to be prepared for Web3?
Yes! There are several principles behind Web3 that distinguish it from Web2 and make it a revolutionary concept, like decentralization, immutability, and transparency. Blockchain technology was introduced in 2009 and just now we are starting to see governments, major financial institutions, and private businesses dip their toes into the world of digital assets. Bitcoin ETFs through traditional investment firms are becoming standard offerings. The governments of Switzerland, the United States, Germany, and more are beginning to recognize the value of blockchains and are creating policies in response. Companies like Steak ‘n Shake now accept Bitcoin payments in exchange for a hamburger- a major step forward in the day-to-day utility of digital assets.
How do I get started with Web3?
The best way to learn about blockchains and digital assets is to experience it yourself. This is where .locker comes in. .locker is a Web2 domain name with a Web3 functionality. Think of .locker as three distinct solutions:
- Web2 domain name for email and website with Dynadot
- Web3 gateway that mints your .locker name on the Bitcoin blockchain and configures your digital wallet (a pre-requisite to any blockchain transaction!)
- Web3 digital identity that can be used to send and receive digital assets like Bitcoin (BTC). You can also use your .locker digital identity for decentralized finance, gaming, and applications
When you register a .locker domain through Dynadot, you’ll receive an email guide outlining how to claim a digital identity on the Bitcoin blockchain. The setup process typically takes a few minutes, and the guide includes step-by-step instructions. Additionally, users who complete the process may receive $5 in Bitcoin as part of the Web3 onboarding experience.
You can search for available .locker domain names on the Dynadot platform.