Introduction

In recent years, blockchain technology has revolutionized various industries, with decentralized finance (DeFi) emerging as a prominent use case. Web3 projects are at the forefront of this revolution, offering innovative solutions to transform the traditional financial landscape. This article aims to provide a comprehensive analysis of web3 projects, exploring their impact on decentralized finance.

1. What is web3 and its significance in the DeFi ecosystem?

Web3 refers to the decentralized web, powered by blockchain technology. It enables individuals to interact directly with decentralized applications (dApps) without intermediaries, ensuring trust, security, and transparency. This section will delve into the significance of web3 in the DeFi ecosystem, highlighting the advantages it offers over traditional financial systems.

2. Prominent web3 projects revolutionizing DeFi

2.1 Ethereum