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

# What is Web3?

Web3 is the phase of the internet in which users own their assets and identity through blockchains. What Web3 on Bitcoin includes.

Web3 is a name for the phase of the internet in which users own their assets, data and identity through blockchains, instead of holding accounts with platforms.

## Web1, Web2 and Web3

* **Web1:** mostly static websites. Users read; few published.
* **Web2:** platforms made publishing, shopping and socializing easy. The platforms own the accounts, the data and the network.
* **Web3:** open networks such as Bitcoin, where anyone can hold the native asset, run a node or build on the protocol, and no single company controls it.

## Web3 on Bitcoin

* **DeFi:** exchanges, lending and stablecoins on Bitcoin layers such as Stacks. See [What is DeFi?](/learn/what-is-bitcoin-defi.md).
* **Collectibles:** NFTs on Stacks.
* **Identity:** names such as BNS that you own with a key. See [What is Decentralized Identity on Bitcoin?](/learn/what-is-decentralized-identity-on-bitcoin.md).
* **Tokens:** assets issued on Bitcoin layers, from stablecoins to sBTC.

## Risks

Open access also means nobody screens who builds or what they publish. Scam tokens and malicious apps exist, and transactions cannot be reversed. Check what an app is and what you sign.

To use Web3 apps on Bitcoin and Stacks, you need a self-custody wallet such as Leather. See [What are Web3 Wallets and How Do They Work on Bitcoin?](/learn/what-are-web3-wallets.md).