Is Web 3.0 already here? It has not been implemented widely yet. The application of Web 3.0 is limited to blockchain and cryptocurrencies. However, it is believed that in the future, it will replace Web 2.0 completely. So, let us have a look at how Web 3.0 is represented now, and how investors can benefit from it.
Web 3.0 applications are built on blockchain–decentralized networks of numerous peer-to-peer nodes. These applications are called Decentralized Applications, or dApps. In Web 3.0, there are no central regulatory authorities. Instead, the network relies on users - they create, govern, improve, and maintain a specific project and get rewarded for their efforts. Depending on the network, users can provide different services:
- Computation power
- Storage
- Bandwidth
- Hosting, and similar.
In other words, users provide all those services that used to be provided by internet or cloud service providers.
Just a couple of years ago, Web 3.0 seemed to be something fictional. However, 2021 proved to be a significant one for the development of Web 3.0. It was the year when, aside from crypto coins, NFTs grew in popularity, the concept of metaverse was embraced by big tech, and Web 3.0 gained more visibility. Web 3.0 coins are growing in importance and thus investing in them might be profitable in both the long and short term. Here, we will check what the most promising Web 3.0 coins are and why they might stay around for long.
Basic Attention Token
Basic Attention Token or BAT is a utility token that powers a blockchain-based advertising platform. Its aim is to provide fairness and security in digital advertising by connecting content creators, advertisers, and users.
- Advertisers can place their ads through the Brave browser and pay in BAT. BAT tracks how users interact with digital ads content and stores the information in the blockchain. It enables advertisers to learn about the ads’ efficiency without violating privacy.
- Users get rewarded for watching ads.
- Content creators get paid for content in BAT, too. Their revenue comes from ads and tips from users.
The BAT network revolutionizes the way advertising works by making it completely decentralized and fair.
Helium
Helium is a blockchain-powered wireless network for the Internet of Things (IoT). It enables IoT devices to connect to the internet without satellite hardware or a cellular plan. The network participants purchase or build so-called hotspots. A hotspot represents a combination of a wireless gateway and a miner. Each hotspot is responsible for providing network coverage over a specific radius and mining HNT, Helium’s native token.
Chainlink
Chainlink is a decentralized oracle network. It enables hybrid smart contracts. They can combine on-chain code with off-chain data and computation. It means that the network allows blockchains to interact with external data feeds, payment methods, and events.
Chainlink doesn’t have its native blockchain. Instead, it integrates with multiple blockchains and provides them with up-to-date information streams.
It is the first network that enabled off-chain data to be integrated with smart contracts. That’s why the project has already built up a strong reputation and secured a place among top Web 3.0 cryptocurrencies.
Theta
The Theta network offers a blockchain-based decentralized infrastructure for video streaming. In the Theta network, users share the bandwidth and computing resources on a P2P basis.
The main aim of the Theta project is to change the video streaming industry to make both users and content creators benefit. Users are supposed to get a better user experience for less cost, and content creators are expected to get more revenue from their content because of the intermediary parties' absence.
Arweave
Arweave is a collectively owned hard drive, a storage platform that allows users to store data forever. The network hosts permaweb - a “global community-owned web that anyone can contribute to or get paid to maintain”. The permaweb looks like any other web with the only difference that all content there is stored permanently, is easily retrieved and fully decentralized. “Miners” are paid in the network native token AR to store the network information indefinitely.
Livepeer
Livepeer is an Ethereum-based protocol, a decentralized network that serves for video transcoding (reformatting the video to meet the bandwidth and a variety of device requirements).
Video streaming is very demanding and costly on the computing side. It happens because distributors need to transcode it before streaming it. Livepeer aims at replacing the old model of video transcoding and streaming by providing a marketplace for those who build video apps with the integration of live video and transcoding providers.
Siacoin
Sia is a blockchain-based cloud storage platform. Its aim is to reduce the costs of cloud hosting by providing a decentralized marketplace without signups, servers, or trusted third parties. Users can provide for a fee their unused storage space to those who need it. Everything is automated with smart contracts. The native coin of the network, Siacoin, is used to pay users for the provided storage space.
How to Purchase Web 3.0 Cryptocurrencies with LetsExchange
Web 3.0 cryptocurrencies are mostly new ones. Therefore, you might face difficulties when looking for a place where you can purchase or exchange them. LetsExchange lists all of them – and 2000 more coins and tokens. These assets are available for swaps in any direction, in an unlimited amount, without a mandatory registration, so you can exchange BTC, ETH and hundreds of altcoins for the top Web 3.0 cryptocurrencies straight away
FAQ
What are Web 3.0 cryptocurrencies?
Web 3.0 cryptocurrencies are coins behind the projects that develop Web 3.0. Among the most prominent ones, there are BAT, Helium, Chainlink, Theta, Arweave, and Siacoin.
Is Web 3.0 here already?
No, Web 3.0 is being implemented by separate projects and to some extent only.
Is investing in Web 3.0 coins profitable?
It is believed that Web 3.0 will replace Web 2.0 eventually. Therefore, investing in Web 3.0 coins may be very profitable in the long term.
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