Distributed ledger networks and cryptocurrencies are paving the way for Web 3.0, the future Internet. Web 3.0 crypto tokens have greatly affected the market for cryptocurrencies. They are changing the very nature of the web with a big plan and a good incentive structure.
What is Web 3.0?
Web 3.0, also known as Web3 or the decentralized web, is a possible future version of the World Wide Web that uses decentralization and blockchain technology to ensure that all users get a fair share of the resources.
Unlike Web 1.0 and Web 2.0, it doesn’t need centralized servers or governing bodies to work. Instead, Web 3.0 uses blockchain technology to store information on a network of millions of computers worldwide. Users can access this information through secure links.
In the age of Web 3.0, you don’t need “permission” from anyone. This means no group is in charge of deciding which people get access to which services. Since there is no third party in a virtual exchange, there is no need for ‘trust,’ which means anyone can do business with anyone else.
One of the most talked about parts of Web 3.0 is “DeFi,” which stands for “decentralized finance.” Using the blockchain to make real money transfers without banks or governments as middlemen.
What Is a Web 3.0 Crypto Token?
Web 3.0 crypto tokens are based on smart contracts and automating online transactions. Simply put, they are digital assets that aim to make the Internet less centralized. Anyone who wants to help make, run, add to, or improve one or more Web 3.0 projects can do so in exchange for money.
These Web 3.0 crypto token projects could offer any service, like computation, storage, bandwidth, hosting, identification, etc., but they are not limited to those things. A protocol could make it possible for service providers of video infrastructure and streaming media programs to trade on a platform. Tokens and blockchains could be used to incentivize users and small businesses to provide and confirm wireless coverage and send data from connected devices.
These tokens could be real money, non-fungible tokens, or digital assets stored in a blockchain.
How Does Web 3.0 Change the Reality of Crypto Investment?
In Web 3.0 as the Web 3.0 ecosystem grows, those who provide the most advanced technology will get more attention than they do in the current infrastructure. For example, the popular crypto-token Ethereum could become a long-term investment goal for crypto investors because of how important it is for developers to use it to make dApps.
In the same way, investors won’t care about how big a blockchain project’s name is unless it gives it a big edge over the competition and makes Web 3.0 a reality.
There are now many different kinds of Web 3.0 crypto tokens. Web 3.0 crypto-token launches need to be carefully planned. Before you commit, have a reputable web3 development firm look at the landscape.
How to Get Your Brand Ready for the Web 3.0 Revolution?
Early adopters of Web 3.0 see success, and now is the perfect time for businesses to learn about the technologies that will define the third version of the Internet.
As a starting point for how your brand can join the Web 3.0 movement, think about the following:
Issuing a native asset: When working with Web 3.0 crypto tokens, it is important to have native assets to ensure the network runs smoothly. The main reason these things are valuable is that they keep us safe. That is to say, the price of doing something bad goes up at the same rate as that of the native asset. This is because miners should have a good reason to provide hashing power. Because people are more sure that the currency is safe, its value and price will likely go up.
Building a network by holding the native asset: Brands can increase the value of the native asset by using the “grow the native asset treasury; build the ecosystem” business model. Blockstream is a great example of a company whose bitcoin balance sheet is a source of value.
Digital currency: The new blockchain projects are based on the idea that the limited native payment token’s value will rise along with the network’s economy.
Token burning: With the money that comes in, projects can buy back their tokens from the public market and destroy them. This lowers the number of tokens in circulation, which makes these Web 3.0 cryptocurrencies more valuable.
Top 5 Web 3.0 Crypto Tokens
1) Helium (HNT)
Helium (HNT) is a blockchain-based, decentralized network for the Internet of Things devices. It uses a worldwide system of low-power wireless hotspots to send data over radio waves, which are then recorded on the blockchain.
The Helium mainnet is a network of nodes that allows low-powered wireless devices to talk to each other and share data. Also, these nodes come in the form of hotspots and work as both a wireless gateway and a machine for mining the blockchain. Users who run these nodes can earn rewards by participating in HNT mining. Its current market value is $3.3 billion, meaning each coin is worth $31.45.
2. FileCoin (FIL)
FileCoin (FIL) is a decentralized storage network that makes traditional cloud services safer. It can also save any information, from text files to video clips to music files.
It is a popular Web 3.0 currency that can be used to rent storage space. FileCoin can be used by anyone to buy or sell network storage space. You can give only some of your sensitive information to one company. Instead, you can spread it over several servers in different parts of the world. FileCoin is worth $4.2 billion on the market at its current $28.21.
3. PolkaDot (DOT)
Polkadot (DOT) is a protocol that connects blockchains and makes it possible to transfer data between systems that didn’t work together before. As the 10th biggest cryptocurrency, its market cap is $24 billion, and one coin is currently worth $24.36.
Also, it has a main chain built as Layer 0, and the parallel chains built as Layer 1 blockchains are linked to the main chain. This gives it the ability to grow. These can also talk to other blockchains through bridges.
4. Theta Network (THETA)
Theta Network (THETA) is a decentralized video delivery network that was made to tackle the technical and financial problems of the industry head-on.
It is a peer-to-peer system that lets people share media quickly and for free. As people watch videos, some of their processing power is used to send them to other people on the network. When this happens, THETA tokens are given to the primary user.
It is the 40th largest cryptocurrency by market cap, which is $4 billion. At the moment, one coin is worth $4.01.
5. BitTorrent (BTT)
BitTorrent (BTT), a peer-to-peer protocol, can send a large file over the Internet. BitTorrent lets people share and download files like movies, games, software, documents, and more.
Also, this protocol breaks up big files into pieces that are easier to handle. Every user in the network gets a copy of this information and shares it with everyone else. The server has nothing to do with this kind of file transfer, which happens between all users simultaneously. This means that the rate is directly related to how many people download and share the file.
One BitTorrent coin is worth $0.002483, giving the cryptocurrency a market capitalization of $2.4 billion.
Some Final Thoughts
Blockchain technology has spread to every industry, from banking and networking to economics, politics, and even medicine. Web 3.0 will be the key to something bigger than anyone in the tech industry could have imagined. At the same time, most people are busy trying to develop new ways to invest in blockchain and cryptocurrencies.
The fact that blockchain technology is decentralized is, by far, its best feature. Web 3.0 is a new type of digital technology that aims to make the virtual world more like the real world. Users can talk to each other and work together in real-time on this network. They can handle centralized or data-specific storage places. In Web 3.0, tokens are meant to be open, and users can access an infinite amount of data, media, and legal contracts. Initial implementations are almost done, and it will be long until it’s widely used.