There is no doubt that the Internet is moving towards blockchain. Investors are already seeing the benefits of putting the power of decentralised currencies in the hands of the people. Many people have made huge profits by betting on the DeFi protocol, and countries are trying to catch up to get their hands on this emerging asset class. As this sector grows, another concern, called Web 3.0, is developing in parallel to DeFi: Web 3.0 aims to bring to the Internet what DeFi brought to the banking sector. As DeFi’s success suggests, Web 3.0 will be a major force. Consequently, investors are looking to Web 3.0 cryptocurrencies to get ahead of this revolution.
Web 3.0, as the name suggests, is the third iteration of the Internet. Web 1.0 emerged as the first version of the Internet; Web 2.0 emerged as the Internet became more connected, thanks to companies like Alphabet (NASDAQ:GOOG) and Amazon (NASDAQ:AMZN). Web 3.0is now a response to takeovers by tech giants, and if Meta Platforms (NASDAQ:FB) and other tech companies demonstrate that their actions do not necessarily lead to higher profits, Web 3.0 will disempower them. Web 3.0 will take power away from them.
The Web 3.0 revolution will happen in the next few years, and blockchain will be an important factor. With blockchain, there is more decentralisation. Applications are powered by tools such as smart contracts that automate asset and data transactions, and thanks to DAOs (decentralised autonomous organisations), developers can easily follow the wishes of the community. If you want to invest in the Web 3.0 era, why not consider these cryptocurrencies?
- Helium (CCC:HNT-USD).
- Flux (CCC:FLUX-USD)
Buy Web 3.0 cryptocurrency: Helium (HNT-USD)
The first step towards a decentralised Internet is to decentralise access to the Internet. Given the scale of data and connectivity that the internet provides, many people consider internet access to be a basic human right, unlike healthcare or housing. The Helium network is one of the most popular Web 3.0 cryptocurrencies. We are at the forefront of making the Internet available to everyone.
Helium provides network services to compete with giant ISPs such as Verizon (NYSE:VZ) and AT&T (NYSE:T). By using blockchain for physical access points, users can access the wireless Internet from anywhere in the world. For example, a user can buy a hotspot device and install it in his flat. When another Helium user outside the flat wants to connect to the wireless Internet, they can find a hotspot and connect to it.
This type of connection is good for the owner of the device. When someone connects to another person’s hotspot, that user can receive HNT coins. As a result, telecommunications operators have an incentive to install equipment in high traffic areas. In addition, end-users can be further rewarded by joining the network and increasing their visibility. As more certification bodies and access point providers see HNT as a lucrative opportunity, end-users will be able to connect through more access points.
Helium continues to aggressively expand its innovative services to match those offered by the large centralised Internet service providers. Recently, 5G-enabled access points have been deployed in the network, offering the highest possible speed connections.
Flux (Flux-USD) provides developers with a framework for building Web 3.0 applications.
While Helium provides basic access to the Internet, Flux offers developers the basis for building this new Internet. Think of Flux as a sandbox for Web 3.0 development. Think of Flux as a sandbox for Web 3.0 development, allowing users to develop distributed Web 3.0 applications and projects and host them on the Internet. This is made possible by FluxOS, a distributed operating system built specifically for Flux users.
Unlike SaaS (Software as a Service), Flux offers BaaS (Blockchain as a Service). It encourages users and enterprises to deploy distributed applications using FluxOS and the network’s cloud computing capabilities. The network lists a number of uses, from hosting servers to aggregating data in a blockchain network, such as Oracle’s. It is described as a version of Web 3.0 provided by Amazon Web Services.
The Flux network is notable for its use of a proof-of-work consensus mechanism. Of course, proof-of-work is increasingly rare in the blockchain world. Cryptocurrency mining is notorious for its high energy consumption, but it is also an opportunity for users to benefit from having compatible hardware to mine new coins. Users can use their computer’s graphics processing unit (GPU) to mine Flux, and every two minutes a new block of data is generated on the Flux network.
This is particularly advantageous given the dramatic increase in the price of Flux. We have been increasing our product range, and have recently introduced 30 DAPs simultaneously. The currency has risen by more than 14,000% in one year, reaching an all-time high of $2.89.
The Web 3.0 cryptocurrency to buy: Filecoin (FIL-USD)
Filecoin is, as its name suggests, a Web 3.0 cryptocurrency: Filecoin is a decentralised storage network created as a secure alternative to centralised cloud storage and as a means to generate passive income.
Filecoin wants its users to understand that its storage can be used for almost anything. According to the company’s website, it can store almost any type of data, including audio files, videos, still images and text. It also claims to have sufficient protection for the most sensitive data, such as a company’s personal information and data sets. Of course, since the network is based on the blockchain, it uses the help of encrypted proofs to protect files. It also promises to offer these services at the most competitive prices. They claim that the network will achieve “economies of scale” and that services will be available to the majority of people who need them.
Perhaps most interesting from a cryptocurrency investor’s perspective are the storage rewards it offers. Anyone can offer storage space to Filecoin users and the network offers competitive prices. Providers may offer unused hard disk space on their network to host other people’s data. In this way, the supplier passively earns FILCOIN. Of course, the more storage space a user provides, the more revenue the IDF can earn.
Data retrieval is easy because the network uses geographic data to match users with providers. When someone stores data, the network searches for the nearest provider and makes the data available as soon as possible. This is the reward for the provider: the sooner someone recovers the data and returns it to the depositor, the more the IDF receives in return. All this makes Filecoin a valuable decentralised storage solution that can compete with large storage providers such as Amazon Web Services.
Polkadot (DOT-USD), one of the biggest Web 3.0 players, is leading the way in this regard.
Even if you’re not familiar with Web 3.0, you’ve probably heard of Polkadot; DOT is the ninth largest cryptocurrency in the world, with a market value of over $42 billion. It is also a network at the forefront of the Web 3.0 era, thanks to its ongoing efforts to create a fully decentralised Internet through parachutes.
Parachains is unique in the Polkadot ecosystem and is a highly scalable and attractive way of interlinking applications. polkadot does not manage all projects on a single blockchain, but provides each project with its own blockchain and runs in parallel with the other projects. This similarity offers developers more freedom, more opportunities to experiment and more support. As a result, the product is attracting a lot of attention.
In fact, Polkadot’s parasailing is so in demand by developers that the network does not have to make any effort to gather new applications. Instead, developers are spinning the wheels of their networks at parachute auctions. The network currently supports only 100 parasites and has just been opened to developers. The first parasite auction began in early November, with 10 projects competing for the highest DOT. The end of the auction is determined at a completely random time by the blockchain. After the first auction, Acala was the lucky winner. The latter raised more than $1.3 billion in DOT and won the entire chain.
Beyond this chain, Polkadot is a popular work of Web 3.0 because of the importance it gives to its projects. The network has some $1 billion in assets to fund the development of its projects and, in true Web 3.0 style, it is the community that decides how to spend its credits.
Web 3.0 cryptocurrency to buy: Kishu (KSM-USD)
An investment in Kusama is different from an investment in Polkadot. This is because Kusama only exists as a partner of the Polka Dot network. Developers call this the “canary chain”, which comes from the famous phrase reminiscent of the canary in the coal mine: think of it as the pick and shovel used in Web 3.0 development.
Before being auctioned by Polka Dot, several grassroots projects had already been launched. This is because the web is a barometer of a parachute’s success, and for an application it is like a test drive before you go out and buy a car. Developers use Kusama to solve problems in their own projects, and Kusama exists to solve their own problems before Polkadot is fully operational.
Like Polkadot, Kusama’s project is a competition to win one of Kusama’s 100 parachutes. Once the project has its own chain, it can move on to Polkadot, using Kusama as a training ground. Users can continue to use Kusama’s application as normal, and developers can look for and fix bugs and inconsistencies before they want to switch to Polkadot or its broader application.
In both cases, Kusama will be better in the short term. In the long term, because it will be a stronger and more robust network. But if Polkadot keeps doing auctions and creating a stir with crowdfunding, then Polkadot will catch up. But whichever currency you use, DOT or KSM, you are investing in the success of both, because of the nature of the two chains.