Web3 is a new version of the internet that lets you control your own data and money without needing big companies like Google or banks. It uses a technology called blockchain, which is like a shared online record book that everyone can trust because it’s secure and can’t be easily changed.
Cryptocurrency (like Bitcoin or Ethereum) is digital money that runs on this technology. It allows you to send money or do business directly with others online, without needing a bank in the middle. In Web3, crypto is also used for more than money—you can own digital items, vote on decisions, and even get rewards for helping the network grow.
The concept of decentralization is based on ownership of assets and fund,s so if the developer is generating codes. he is playing a major role in the concept of decentralization.
Doesn’t apply to all of course,
But to explain. the total supply of KLV will always be 10 Billion - no more tokens can be minted even by the developer of the token.
While developers build the code that powers blockchain systems, Web3’s decentralization comes from how that code is executed and governed. Unlike traditional centralized systems where control is held by a single authority, blockchain networks are maintained by a distributed set of nodes. These nodes run the same code (often open-source), making decisions through consensus mechanisms like proof of stake or proof of work.
In Web3, power is decentralized through:
Distributed Nodes: Instead of relying on a central server, blockchains are run by thousands of nodes spread globally, making it hard for any single party to control or shut down the network.
Governance Tokens: Token holders can vote on protocol upgrades, ensuring community-driven decision-making instead of control by a single entity or developer.
Smart Contracts: Developers write smart contracts that are deployed on the blockchain and run autonomously, without further human intervention, as long as the conditions coded are met.
While developers create the initial infrastructure, decentralization occurs in how the network operates and evolves post-deployment.
