Web 3.0 is the next generation of internet which is promised to be a far more decentralized version of the current state of internet. We provided a list of top 6 best cryptocurrencies that will play key roles in the web 3.0 era.
As the world transitions into the era of Web 3.0 and the significance of cryptocurrencies grows, Cryptodesk stands as a trusted platform for seamless cryptocurrency trading. Web 3.0 introduces a more decentralized internet experience, and cryptocurrencies play a vital role in shaping this new digital landscape.
The third generation of the internet is commonly referred to as Web 3.0. Integrated with concepts like the proof-of-coverage, Internet of Things, blockchains, non-fungible tokens (NFTs), and Smart contracts, the next era of internet will be a more decentralized experience. We’ve crafted a list of the top 6 cryptocurrencies that will play pivotal roles in the web 3.0 and might have huge potential for investors as well. The list includes Filecoin, BitTorent, Polkadot, Theta, and Chainlink.
Filecoin
In the era of Web 3.0, Filecoin is supposed to be the peer of Web 2.0 storage platforms such as Google Play. You can allow others to rent your PC’s hard drive space to earn Filecoin tokens and become a new-age digital landlord! Filecoin also uses the NFT technology to store your virtual belongings. It has a high potential for booming and has a growing community that is anxious to see it boom before the first quarter of the 21 century.
The Filecoin token’s current price is $8.86, and it has a market cap of about $1.8 billion as of May 15, 2022.
BitTorent
Similar to Filecoin, the BitTorent is a file-sharing platform and is dedicated to providing users with free and secure downloading and streaming services. TRON purchased BitTorent in 2018 and later created BTT (BitTorent token) on the TRON blockchain. The Web 3.0 will take advantage of the astronomically gigantic community of BitTorent and the amount of data it can provide for people and data centers.
BitTorent is currently trading for $0.0013 and has a market cap of almost $1.3 billion as of May 15, 2022.
Polkadot (DOT)
The idea of Polkadot was peached by Gavin Wood, the co-founder of Ethereum and the same guy who coined the phrase “Web 3.0” in 2014. Polkadot is supposed to facilitate the transfer of data and assets from one blockchain to another, and truly decentralize the internet. The aim of Polkadot is to link the blockchain networks together and create a parachain, so the users can enjoy a cross-network experience.
Polkadot is currently trading for $11.1 and has a market cap of almost $11 billion as of May 15, 2022.
Theta
Theta is another decentralized cryptocurrency concept which is specifically dedicated to streaming and video-sharing services. Theta can potentially replace the existing sharing platforms in the Web 3.0 era, with enterprise validator nodes from Sony, Google, Samsung, and many other tech companies.
Theta is currently trading for $1.36 and has a market cap of $1.36 billion as of May 15, 2022.
Chainlink (LINK)
Specialized at facilitating the generation and execution of smart contracts, Chainlink is an Ethereum-based decentralized blockchain that is capable of interaction with off-chain data, thanks to the oracle network. Chainlink provides the smart contracts with crucial information from outside of the blockchain itself (which can be real-world data or virtual data from other networks). You can become a node operator in the Chainlink and feed information to it and earn LINK, the Chainlink’s native token.
LINK is currently trading for $7.6 and has a market cap of $3.55 billion as of May 15, 2022.
Helium (HNT)
As mentioned in the introduction, the Internet of Things or IoT is an integral part of web 3.0. Helium is the blockchain that’s specialized for this concept, by allowing decentralized digital structures to be created which facilitate the communication between devices and transferring their data, using what’s called a proof-of-coverage consensus.
Helium is currently trading for $9.27 and has a market cap of $1.09 billion as of May 15, 2022.
The transition from the current state of web to the next generation which is referred to as Web 3.0 will have to include strong decentralized solutions, and cryptocurrencies probably play the most vital role in decentralizing different territories of web 3.0. Some coins such as Filecoin are specifically designed for storage and sharing of files, while tokens like Theta are specialized for video streaming services and so on. With ever-growing communities and enormous market caps, they can also provide buyers with lucrative opportunities for investments.