Which are the best Web 3.0 cryptocurrencies?

Which are the best Web 3.0 cryptocurrencies?

In this article, we will be taking a look at what Web 3.0 aims to achieve and its many different niches, as well as the top tokens and coins that are actively working on a decentralized version of the Internet.

What is Web 3.0?

The term refers to a multitude of subdomains that are trying to disrupt the current state of the Internet and help small businesses and creators compete against tech giants. This is particularly relevant in a world where most of the Internet is controlled by a few giant corporations. It aims to create a peer-to-peer experience, through which people will no longer rely on massive platforms such as Meta (Facebook), Google, Youtube or even Tik-Tok. Because it is peer-to-peer, people will be able to interact and support creators directly, without the need to rely on ad revenue and specific terms imposed by the tech giants.

Building a decentralized version of the Internet is a bold move, but the sentiment is definitely positive. People are starting to care about their privacy more and more, and they are becoming increasingly annoyed by aggressive marketing slowly turning them into mindless consumers. This is why the project itself has a lot of utility in the current context.

Furthermore, it will aid the development of the so-called “Metaverse” in a decentralized fashion. Currently, there are two main ways in which the Metaverse is expanding: one centralized, led by Meta Platforms and other big tech names, and a decentralized version, where developers build all kinds of dapps (decentralized applications) such as virtual land, play-to-earn games, and artificial reality experience.

Web 3.0 niches

We will be covering three main topics that are part of web 3.0: decentralized search engines, decentralized content creation/streaming platforms and DeFi, or decentralized finance.

When it comes to search engines, a combination that almost every cryptonaut uses is Brave + Presearch browsers. The two best content creation platforms are Theta and Livepeer, and the best DeFi players are Ethereum (still the biggest), Terra (great for stablecoins), Avax (fastest chain), and Cosmos (great interoperability).

  1. Brave Browser — BAT Token

Brave is a browser built on Chromium that already has more than 50 million users. It features great privacy and a built-in ad blocker. The cool thing about Brave is that you can earn BATs (Basic Attention Tokens) for watching ads. You can opt in to receive rewards and you can choose how many you want to see. Based on that, you will get tokens every month. Brave shares 70% of the revenue with its users. BAT is currently one of the few tokens with real-world value. Advertisers have to buy tokens in order to run their campaigns. The more users Brave will get, the more the demand for ads, and thus tokens will grow. I see investing in BAT as the same as buying stock in the Brave company. Considering they offer a great product and how many utility cases there already are, I see Brave attracting more and more users in the upcoming years.

2. Presearch — PRE Token

Presearch is the first decentralized search engine framework, and allows you to earn PRE tokens from browsing the Internet. Here, advertisers can buy tokens and stake them for certain keywords they want to target. Much in the same way as Brave, they are incentivized to buy tokens for their campaigns, which can drive up the price significantly if more users join in.

3. Theta Network — THETA

Theta Blockchain is “the only end-to-end infrastructure for decentralized video streaming”. Basically, think about Twitch, but peer-to-peer. You support creators directly by watching and sharing their streams. This is great because they no longer rely on big platforms and their terms and conditions and can focus on making exactly the content they want, without the fear of being demonetized. As a viewer, you earn rewards in the form of Theta Fuel. The streaming quality is higher because each viewer shares his excess bandwidth and resources and the video platforms don’t need to build expensive infrastructure, meaning they can invest in other progressive directions. The network and protocol are open-source, feature multiple dapps (decentralized applications), and have a wide range of genres to choose from: esports, movies, TV, learning resources, and peer-to-peer live streaming. They have an impressive number of partners such as Metro Goldwin Meyer, Lionsgate, Failarmy, and even NASA.

4. Livepeer — LPT

Livepeer is a decentralized video streaming network built on Ethereum. It is a scalable and cost-effective solution for the video infrastructure. The issue nowadays is how expensive it is to live-stream. Videos must be transcoded in order to be distributed on the Internet and that costs up to $4500 per month for one media server. Livepeer comes with a solution to that by being a peer-to-peer infrastructure that interacts through a marketplace secured by the Ethereum blockchain. There are two main components that ensure the success of a Livepeer stream: orchestrators and delegators. An orchestrator is someone who joins the network and distributes his computer’s resources (CPU, GPU, brandwidth) for the process of transcoding and distributing video. This is where the LPT (Livepeer Token comes into play). It makes sure the users are incentivized to participate in the network and make it fast, cheap and secure. LPT is used in the transcoding process and the more LPT you have, the more you can contribute. When more people join, the demand for video increases and so does the demand for transcoding and LPT, thus driving the price up. Delegators are participants who stake their LPT towards orchestrators to ensure the network is as secure as possible.

5. Ethereum — ETH

Ethereum is the biggest blockchain when it comes to how many dapps it powers. Almost all big DeFi apps are built on Ethereum:

5.1 Maker — a decentralized lending application that supports the DAI, one of the biggest stablecoins

5.2 Aave — a decentralized, non-custodial liquidity market protocol. Here you can participate as a lender or borrower. Lenders provide liquidity for borrowers and earn passively, while borrowers can get loans.

5.3 Uniswap — a decentralized exchange (DEX), where users can swap between ETH and any ERC20 token.

5.4 Sushiswap — the same as Uniswap, but with a few tweaks to its open-source code.

5.5 Curve — one of the best DEXs when it comes to stablecoins trading.

5.6 Compound — another place where you can lend/borrow.

5.7 Balancer — a DEXs that allows you to buy tokens at the best possible prices.

6. Terra — LUNA

Terra is home to Anchor protocol, the best place for earning passive income on your stablecoins right now, based on their return rates!

7. Avalanche — AVAX

You can use most of the aforementioned apps such as Aave, Curve or Sushi, but the thing is that Avalanche is “the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality”.

As far as other apps you can use:

7.1 DEXs: Trader Joe, Paraswap, Sushiswap, Pangolin

7.2 Yield optimiser — this makes it so that your yield is automatically compounded, earning you much more than what you would get if you were to manually compound your rewards: Snowball, Yield Yak, Yield

7.3 Manage your portfolio: DeBank, Ape Board, Markr,

7.4 Borrowing or lending: Nexo, Aave, Benqi

8. Cosmos — ATOM

Cosmos is great because it offers interoperability between chains, allowing you to make better and smarter choices because you can bridge tokens from different blockchains. As such, it has gained massive popularity in recent weeks. Osmosis, the biggest automated market maker built on Cosmos, is still at the beginning, and already has more than 1 billion dollars in value locked!

Conclusions:

Web 3.0 is a great idea because it benefits everybody: both the creators and the consumers. It cuts the middleman and allows for higher quality and more user satisfaction. These are some of the most promising cryptocurrencies related to web 3.0 and, as long as more users will switch to this peer-to-peer infrastructure, there is great room for growth.

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