Over the years, modern technology has evolved to such an extent that it is now possible to buy and sell virtual currencies. These digital currencies are known as cryptocurrencies and are taking the market by storm. Recent returns on these investments have encouraged most investors to participate in this trend. Examples include Bitcoin, Ether, NFT and now Web 3.0 tokens. Web 3.0 tokens have recently surpassed other cryptocurrencies.
This article discusses the definition of Web 3.0, examples of Web 3.0, and some of the best cryptocurrencies for investing in this technology.
Web 3.0 token: What is it?
Web 3.0 tokens, as the name suggests, are digital assets that operate with a decentralized network. So what exactly is the decentralized Web?
It started with Web 1.0, when it was more about HTML text and content consumption without any user interaction. Then we moved to Web 2.0, which is today’s social media, such as Facebook, with more interactive user-generated content. There was a need to develop a modern 3D network, based on virtual reality and available anywhere, anytime. This led to the introduction of Web 3.0.
Some examples of Web 3.0 can be seen in virtual museum tours, Apple’s Siri app, and others. This is a more atomized, network-based technology similar to that used in blockchain technology and cryptocurrencies. It is a new technology in which humans and machines will have a greater interface with data, using contextual knowledge, artificial intelligence and the semantic web.
What are some of the top Web 3.0 tokens you should invest in?
The value of Web 3.0 has increased by an average of 244 percent, much more than Bitcoin, making it very popular among investors. Not surprisingly, there are already about 50 coins in the market with an estimated value of $25 billion. Here are some Web 3.0 coins to consider for investment:
This wireless encryption technology is based on providing low-power, kilometer-long coverage to billions of devices. Anyone who installs a hotspot with Helium Longfi receives HNT currency as a reward. As a result, users can earn billions of dollars from this helium mining process.
In addition, this installation consumes only 5 watts of electricity. In addition, the company has partnered with nonprofit organizations to give back to the community and make a difference. This coupon has increased from $1.30 to $43.30, a 3,000 percent increase since the beginning of the year.
The cryptocurrency stems from the popular decentralized file-sharing application BitTorrent, which the Tron Foundation acquired in 2018 and released the BTT token in 2019. The price of the token skyrocketed in the weeks following its release. On the day of its release, it raised $7.2 million within minutes.
Investors can participate in this token by trading or joining the network. Users can join the network for free, share a full copy of the file, and receive BTT as payment. In addition, the company strives to be transparent with its participants. Recently, its value has increased by 1000%.
Want to live stream video, games, entertainment or training at an affordable price? With the Livepeer-based app, you can. The Livepeer platform uses the Ethereum blockchain to decentralize the distribution of live video over the Internet.
This is also an incentive to ensure that video transcoding and video transmission and reception occur securely. In the past year, the price of TPL has risen from $1.50 to $35.50, an increase of 2,000% over the previous year.
- ChainLink (Link)
Are you concerned about personal information leakage or fraud when investing in cryptocurrencies? If so, ChainLink is the right online currency for you. It is built on Ethereum technology, which ensures the security of smart contracts, which are automated contracts between two parties. A smart contract is activated when predetermined conditions are met. For example, payment is released upon completion of a service. chainLink implements the security of these smart contracts and prevents fraud and breaches of contract. This is achieved by evaluating and verifying real external data with Oracle operators to ensure that only real and accurate data is entered into the system. This online currency can be beneficial for both long-term and short-term investments as more and more decentralized applications are launched. Since the beginning of this year alone, the price has increased more than sixfold. Experts believe that with the growing popularity of smart contracts, the price of ChainLink will also rise in the future.
- Ethereum Name Service (ENS)
One of the biggest concerns when transferring money online is that it will end up in the wrong hands or get lost at the wrong destination. The Ethernet Name Service is designed to solve this problem. Because human names are easier to remember than machine-readable names, ENS matches the human name with an ethereum address, ending in .eth. Instead of a machine-readable address, funds are transferred to a name such as sam. eth. Users can register a name of their choice for their wallet. While these tokens offer investors a profitable return, transaction costs are high. Potential buyers should carefully research the token before purchasing it.
In a nutshell
After reading the previous article, you will have gotten an idea of some of the web 3.0 tokens you can invest in, and below is a guide on how to invest in web 3.0. As with any other investment, it is impossible to predict the future value of a token in advance. Therefore, investors should conduct thorough research and analyze market trends before committing funds. Investors can also benefit from token pools, which are packages of cryptocurrencies based on specific themes and sectors. Beginners can also seek the help of an investment advisor.