Modern technology has evolved so much throughout the years that there are now virtual currencies available for purchase and sale. These digital currencies are called cryptocurrencies, and they are taking over the market by storm. Recent returns on these investments have prompted most investors to want in on this trend. Among the examples of this are bitcoin, Ethereum, NFTs and now Web 3.0 tokens. Web 3.0 tokens have outperformed other cryptocurrencies recently.
This article will discuss the Web 3.0 definition, Web 3.0 examples, and some of the best cryptocurrencies to invest in this technology.
Web 3.0 token: What is it?
Web 3.0 tokens, as their name suggests, are digital assets that work with the decentralised internet. Now, what exactly is decentralised internet?
It started with Web 1.0, where it was more of HTML text and content consumption without user interaction. Then we progressed to Web 2.0, which is our current social media like Facebook with more user-generated interactive content. There was a requirement to develop a more modernised and three-dimensional internet based on virtual reality, which can be available anywhere and everywhere. This led to the introduction of Web 3.0.
Some Web 3.0 examples can be seen in virtual museum guides, Apple Siri application and more. It is a more individual-centric technology based on a similar network base used in blockchain technology and cryptocurrencies. A new technology in which humans and machines will have more interconnection with data, with the help of contextualised knowledge, artificial intelligence and the semantic web.
What are some of the top Web 3.0 tokens you should invest in?
Web 3.0 have witnessed an increase in value, around 244% on average, much more than Bitcoin, making it quite popular among investors. Hence, it is no surprise its market already consists of around 50 coins with an estimated value of $25 billion. Here are some Web 3.0 tokens to consider for investing :
- This wireless crypto technology is built on providing miles of low-power coverage to billions of devices. Anyone who installs the hotspot using Helium Longfi will receive HNT currency as a reward. Thus, the users can make billions through this helium mining process.
Additionally, this installation uses only 5 Watts of energy. Furthermore, the company partner with non-profit organisations to give back to the community and make a difference. Having climbed from US $1.30 to US$ 43.30, this token has experienced a 3000% year-to-date increase.
- This cryptocurrency is the product of the famous, decentralised file-sharing application BitTorrent. Tron Foundation acquired the company in 2018, and it launched its BTT token in 2019. The price of the token shot up within weeks of its release. On launch day, it raised $7.2 million in minutes.
Investors can take part in this currency either through trading or joining the network. Users can join the web for free, share the full copy of the file and receive BTT as payment for doing so. Furthermore, the company seeks to build transparency with its participants. Recently, it has grown by 1000% in value.
- Want to stream live videos, games, entertainment, or educational courses at an economical price? With Livepeer based applications, you can. The Livepeer platform decentralises the distribution of live video broadcasts over the internet utilising the Ethereum blockchain.
In addition, it serves as an incentive to ensure that video transcoding and video transmission and reception are done securely. Within the last year, the LPT price has risen from US$1.50 to $35.50, a 2000% year to date increase.
- ChainLink (Link)
- Do you worry about the infiltration of personal information or fraud when investing in cryptocurrency? If so, ChainLink is the web coin for you. Built on ethereum technology, it ensures the security of the smart contracts, which are the automation of contracts between the two parties. When predetermined conditions are met, the smart contracts get activated. For example, the release of payment on completion of a service. ChainLink enables the security of these smart contracts by preventing fraud and breach of contract. This is accomplished by evaluating and validating external real data with its Oracle operators so that only true and accurate data is entered into the system. As more decentralization applications launch, this web coin is good for both long- and short-term investment. Its price has increased more than six times till May 2021, since the beginning of this year alone. Experts believe as the popularity of smart contracts rises, so will the ChainLink price in future.
- Ethereum Name Service (ENS)
- When transferring funds online, one of the primary concerns is that they will fall into the wrong hands or get lost because of an incorrect address. The Ethereum Name Service is designed to address this issue. The individual receives tokens of cryptocurrencies or NFT on the blockchain. As human names are easier to remember than machine-readable names, the ENS maps human-readable names to Ethereum addresses that end in .eth. Instead of a machine-language address, funds are transferred to a name like sam. eth. Users can register a name of their choice for their wallets. While this token has given strong returns to its investors, its transaction fees are high. Prospective buyers must do their research carefully before buying the token.
In a nutshell
After reading the above article, you will have a fair idea about some Web 3.0 tokens you can invest in. Like any other investment, it is not possible to predict the future currency value in advance. Hence, the investors must conduct thorough research and analyse the market movements before committing any funds. Investors can also benefit from coinsets, a basket of crypto tokens, based on specific themes and sectors. Beginners may also seek the assistance of an investment advisor.