Nowadays we hear more about Web 3.0. Developers are working hard to develop further in this technology. However, we’not there yet, and we have to wait until developers have found a solution for linking blockchains.
This is one of the topics that blockchain developers are busy with. If successful, it will bring us one step closer to Web 3.0. In this web 3.0, data that billions of people consult every day will no longer be stored on servers run by centralized players like Microsoft, Google or Amazon, but will be distributed on computers that will receive small amounts of cryptocurrencies to host this content.
Each blockchain has its advantages and disadvantages, and have all their own features. An internet of blockchains would allow users to transfer value between blockchains to take advantage of the features and applications each of them offers. With Web 3.0, the backbone and functioning of the internet are being questioned, and it is orientated towards a decentralization that makes the blockchain possible. The decentralized web could become the next practical application of blockchain after cryptocurrencies.
In this article we explain what Web 3.0 is, and which crypto projects we think will make the greatest contribution to its further development. That’s why we definitely recommend you to keep your eyes on these projects in 2022!
What will the internet look like before Web 3.0?
There is also a pre-Web 3.0 period that we all know. Web 1.0, officially born in 1994, is the web that allowed us to obtain, buy and communicate with other people via email. Sites like Amazon, Google and Wikipedia were born during that time.
Ten years later came Web 2.0, which allowed Internet users to take more control of the Internet by allowing them to create content and communicate with each other in real time via sites like Facebook or YouTube. Web 3.0 proposes a new interaction model between programs and content on the web, of which decentralization is the key word.
What are the best Web 3.0 cryptocurrencies?
So Web 3.0 is an interesting development that we are in right now. There are many crypto projects that contribute to this development. Below are the crypto projects that we believe are the most important for the further development of Web 3.0.
Kadena’s blockchain uses Proof of Work, but is extremely scalable. It can process up to 480,000 transactions per second. It also offers support for smart contracts, allowing developers to develop a dApp on the blockchain, as is also possible with Ethereum.
Kadena has its own cryptocurrency, called KDA, which is for sale at various crypto exchanges such as Bitvavo.
Filecoin is a cloud storage project that makes it possible to store data on the blockchain. As a result, users are in control of the data they store, and they can only access it with the right keys. This ensures that Filecoin is extremely safe.
Filecoin has its own cryptocurrency, called FIL, which is for sale at various crypto exchanges such as Bitvavo.
Kusama is an ecosystem for crypto projects. Here developers can develop their own parachain to run their application within the ecosystem. This project is still quite young, although the network is becoming more stable, making it more interesting for developers to use it.
Kusama has its own cryptocurrency, called KSM, which is for sale at various crypto exchanges such as Bitvavo.
Live peer (LPT)
Livepeer runs on the Ethereum blockchain and is designed for streaming videos. People can upload a video themselves on the network, after which it is stored on the blockchain. Other people can then watch these videos quickly and easily.
Livepeer has its own cryptocurrency, called LPT, which is for sale at various crypto exchanges such as Bitvavo.
Helium’s network focuses on IoT devices. IoT stands for Internet of Things, and it means the collaboration between devices that are connected to each other. These devices can be connected to each other on Helium’s network, for which they have to pay a low cost. Helium uses a consensus algorithm called Proof of Coverage (PoC), which ensures that devices connected to the network validate each other’s transactions.
Ocean Protocol (OCEAN)
The protocol developed by Ocean Protocol gives developers the tools they need to develop Web 3.0 applications. The focus is mainly on decentralization for sharing data with others.
ZCash’s blockchain is focused on providing privacy for its users. Anyone can perform a transaction completely anonymously on the network, without their identity being obscured to others.
Like other projects in this list, Flux is an application for Web 3.0. Developers can develop their own decentralized application for Web 3.0 by using Flux. Normally it can take quite some time before such an application is developed, although this should be much easier if they use Flux.
Polka Dot (DOT)
Of course, Polkadot cannot be missing from this list. Polkadot is one of the major players in the Web 3.0 world. They have their own ecosystem where developers can set up a parachain. They can then use this parachain to develop their own project. There are already a lot of projects running within the Polkadot ecosystem.
The Internet as we know it operates on a model that has become highly centralized, whether in terms of managing traffic, content or profit. After Web 1.0, which allowed everyone to obtain information and make purchases online, and Web 2.0, which allowed everyone to create, communicate and have their own place on the Web, a new Internet is emerging. originate.
This new Internet, Web 3.0, operates on a decentralized model of data storage on computers that are members of several “blockchains”, each of which performs a role, which the user’s terminal will combine to respond to his requests. Many teams are currently setting up indexing and financial incentive systems, such as IPFS or Swarm, to build this new decentralized web.
In this article you have been able to read which crypto projects can play an important role within Web 3.0. We recommend that you do good research on these projects, in order to decide whether purchasing one of these cryptocurrencies is wise.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com