Web 3.0 has the potential to provide far greater utility to users, going far beyond the social media, streaming, and online shopping applications that make up the vast majority of Web 2.0 applications used by consumers today. Here are 5 Web 3.0 cryptos that you should watch for 2022 and beyond.
What is Web 3.0?
Web 3.0 refers to the third generation of the World Wide Web. Blockchain technology is the most recent craze to hit the marketplace and Web 3.0, widely regarded as the Internet of the future, allows users and developers to make use of decentralized blockchain technology. Simply, decentralized blockchain networks enable Web 3.0 and search engines, social media platforms, marketplaces, and other applications.
5 Top Cryptos For Web 3.0
Helium is a blockchain-powered decentralized network for Internet of Things (IoT) devices. The Helium mainnet, which was launched in July 2019, allows low-powered wireless devices to communicate with one another and send data across its network of nodes.
Helium’s project is to provide internet access and compete with internet service providers by providing a decentralized architecture that is accessible to anyone.
It is managed by a blockchain and is an open network in which anyone can participate by installing a hot spot at their residence. Participants who want to connect used bandwidth will pay a small fee based on their consumption, and those who have hot spots will receive HNT in exchange for the services they provide to the system.
Just as Google is used by billions of people to query Web 2.0, The Graph sees itself as the “Google” of blockchain.
The Graph is an indexing protocol for querying data for networks such as Ethereum and IPFS, and it powers many applications in both DeFi and the larger Web 3.0 ecosystem. Anyone can create and publish open APIs, known as subgraphs, that applications can query for blockchain data using GraphQL.
Most decentralized applications must be able to exploit a large amount of information from the blockchain and do so effectively. It is necessary to extract organized indexes before consulting demand data. This is exactly what enables you to make large purchases using their concept of this. The Graph because it allows you to build a kind of information indexing and organization layer on top of various blockchains.
The Graph will continue to grow exponentially in the coming years, which is why it is the third altcoin to be mentioned.
Arweave is a decentralized storage network that aims to provide a platform for indefinite data storage. The network, which bills itself as “a collectively owned hard drive that never forgets,” primarily hosts “the permaweb” — a permanent, decentralized web with a variety of community-driven applications and platforms.
Users must pay a certain amount of AR token to permanently store files on the network. The files are encrypted and abstractly stored on the machines of network participants, who are then rewarded in exchange for providing storage space. So, for the first time, if we have a file that we want to put publicly on the internet without anyone being able to delete it, we can do so with Arweave.
Arweave is attempting to become a sort of public hard drive that keeps files online in perpetuity. These are the AR use cases that may drive their price in the future.
Theta is a blockchain-powered network designed specifically for video streaming. Theta mainnet, which was launched in March 2019, is a decentralized network in which users share bandwidth and computing resources on a peer-to-peer basis. The project is backed by the founders of YouTube and Twitch.
Theta has become an essential component of Web 3.0 by providing a decentralized video distribution network that has the potential to revolutionize the way we consume video content on the internet.
It is a new decentralized infrastructure that allows video content to be delivered and operates on the peer-to-peer network principle. There are also other projects in which participants are encouraged to share their IT resources in exchange for rewards, resulting in the creation of a decentralized network of computers capable of broadcasting video content.
Brave is a Web 3.0 ready browser that is ad-free without the need for installation. It is not surprising that the number of users has increased, and the price of the BRAVE has skyrocketed.
Users of Brave have the option of hiding all advertisements or displaying some of them and being rewarded with tokens.
BAT (Basic Attention Token) is the native token of the Brave web browser, which was built on the Ethereum blockchain (ETH). The Brave browser has over 36.2 million monthly active users and over 12.5 million daily users.
It is safe to assume Brave is an ad network. The more users Brave has, the more advertisers will want to display ads. As a result, the token’s value will rise as time passes.
There is no doubt that the internet is shifting to blockchain. Investors have seen the impact of putting decentralized currency power in the hands of the people; many have seen massive gains from staking their assets in DeFi protocols, and nations have been racing to catch up and get their hands on this runaway asset class. As that grows, another area of interest called Web 3.0 is gaining traction in tandem with DeFi. Web 3.0 aspires to do for the internet what DeFi does or rather, is doing to traditional banking. If the success of DeFi is any indication, Web 3.0 will be a massive force.
Disclaimer: This article is provided for educational purposes only and is not an endorsement of any investment strategy. As always, do your own research and consult with a trusted financial advisor before making any investment decisions.
I write about blockchain, crypto, NFTs and other disruptive technologies and innovations.