Top 5 Outstanding, Investment-Worth Web 3.0 Projects To Relate To.
The internet is slowly moving towards blockchain and this has had an impact on investors who soon saw the impact that the power of decentralized currency is putting in the hands of users. And they have made huge profits by investing in DeFi protocols. As this trend continues to grow, another big area is moving called Web 3.0. Web 3.0 seeks to revolutionize the Internet, just as DeFi is doing the same with the banking industry. Hence, investors are looking for lots of web 3.0 cryptocurrency projects to stay one step ahead of the revolution.
What is web 3.0?
Web 3.0 is the third version of the Internet. Among them, Web 1.0 is considered the first version and Web 2.0 is thriving thanks to companies like Alphabet and Amazon. Now, Web 3.0 is a new initiative that is an takeover by the tech giants. With Meta (formerly Facebook) and other tech companies showing that they don’t always act for the common good, Web 3.0 will take power back from these companies.
If you’re looking to invest in the Web 3.0 era, consider the following projects:
# 1: Helium (HNT)
Helium is one of the most popular Web 3.0 cryptocurrency projects and has the responsibility of getting the internet into everyone’s hands. The project offers a web service designed to compete with ISP giants like Verizon and AT&T. It uses blockchain along with physical hotspots that allow users to access wireless internet around the world. Users can purchase hotspot hardware that is located in an apartment. If another Helium user wants to connect outside of the building, they can find hotspots and actively connect to them.
This connection method is very beneficial for hardware owners. When someone connects with them, that user will earn HNT tokens. Therefore, providers are encouraged to use hardware in high-traffic areas. In addition, end users will be better rewarded for joining the network and growing the network to become more popular. As more validators and hotspot providers see lucrative opportunities in HNT, end users have more hotspots to connect to.
Helium continues to introduce a number of innovative services by updating the offering from ISPs. Recently the network deployed a group of 5G compatible hotspots to provide the highest possible connection speed.
The network’s native token, HNT, trades at $ 38.4 with a trading volume of $ 33.4 million and a market cap of $ 3.9 billion.
# 2: River (FLUX)
While Helium provides basic access to the Internet with its product service, Flux is the project that provides developers with the foundation for building this new version of the web. Flux can be thought of as a sandbox for Web 3.0 development. Users can develop Web 3.0 applications and decentralized projects and then deploy them on networks. This is made possible by FluxOS, a decentralized operating system for Flux users.
Flux invites users and businesses to use FluxOS and the network’s cloud computing capabilities to deliver decentralized applications. The network lists a number of use cases for the services, particularly the Oracle hosted services that aggregate data from across the blockchain web. It is described as the Web 3.0 version of the Amazon Web Services offerings.
Flux gets a lot of attention because it uses a proof-of-work consensus mechanism. Of course, proof of work is becoming increasingly rare in the blockchain world. Cryptocurrency mining has come under scrutiny because of its energy consumption, but it is also an opportunity for users to reap the rewards of having compatible hardware for mining new coins. Users can break down FLUX with computer graphics processors (GPUs), with new data blocks being generated in the throughput network every two minutes.
It became particularly lucrative during the FLUX price boom. The network is continuously expanding its product range and has recently introduced 30 dApps into the network at the same time. The FLUX price hit an all-time high of $ 2.89, posting a gain of more than 14,000% over the year.
At press time, FLUX is trading at $ 1.87 with a trading volume of $ 14.5 million and a market capitalization of $ 413 million.
# 3: Filecoin (FIL)
Filecoin is like a filing cabinet for Web 3.0. It is a decentralized storage network that serves both as a secure alternative to centralized cloud storage and as a passive way of making money.
Filecoin wants users to be aware that the storage can hold almost any type of data, be it audio files, videos, still images, or text. It also claims to be secure enough for more important data like private company information and records.
On the investor side, they are rewarded for the provision of storage capacities. Anyone can make storage space available to Filecoin users; This is how the network creates competitive tariffs. The provider can provide the network with unused hard drive space to store other people’s data. The sellers then passively earn the FIL. Of course, the more storage a user provides, the more FILs they earn.
FIL is trading at $ 53.4 with a trading volume of $ 493 million and a market capitalization of $ 6.9 billion.
# 4: Polkadot (DOT)
Even if you are new to Web 3.0, you have probably heard of the Polkadot Network. With a market capitalization of over $ 35 billion, DOT is the ninth largest cryptocurrency on CoinMarketCap. It is also the network that leads the way into the Web 3.0 era thanks to its rigorous efforts to usher in a fully decentralized Internet through parachains.
In fact, polkadot parachains are very popular with developers. In contrast, developers have to “fight” for their own chain through parachain auctions. Currently only 100 parachains are supported and it is only open to developers. The first Parachain auctions started in early November, with 10 projects competing for crowdfunding. After the first auction, Acala was the winner with over $ 1.3 billion DOT.
In addition, Polkadot is a popular Web 3.0 game of the project that knows how to take care of its projects. The network spends nearly $ 1 billion in assets to fund the development of projects.
DOT is trading at $ 35.9 at press time with a trading volume of $ 1.1 billion and a market capitalization of $ 35.5 billion.
# 5: Kusama (KSM)
Investing in Kusama is a detour via polkadot. Because Kusama only exists as an experimental network of Polkadot. The developers call it the “canary net”, an allusion to the story of the canary in a coal mine. Think of Kusama as a pimple and a shovel in Web 3.0 development.
Kusama has set up and carried out many projects because the network is the benchmark for the success of Parachains. Developers use Kusama to solve problems related to their projects; Kusama exists for Polkadot to find the bugs and fix them before full release. Just like polkadot, projects compete for a spot on the Kusama network through parachain auctions. After a project wins, Kusama will use it as a training ground before moving to Polkadot. Users can use Kusama applications normally, and developers can find and fix any bugs or inconsistencies before moving to Polkadot and getting wider distribution.
Kusama may be a better short term investment bet as the network is older and stronger. However, Polkadot is sure to catch up as it continues its auctions and raises billions of dollars for crowdfunding.
The network’s native token, KSM, trades at $ 369.4 with a trading volume of $ 108 million and a market cap of $ 3.1 billion.
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