by Aratrika Dutta
January 31, 2022
These top 10 cryptocurrencies are decentralized projects using smart contracts to automate transactions over the internet.
Blockchain technology is something that has been gaining heavy momentum these days. One of the areas it has been doing a tremendous job is on the internet. While the majority of the global populace is trying to invent new ways to invest in cryptocurrencies and blockchain, on the other side is Web 3.0. It is a new hybrid of the internet that aims to become the decentralized version of the virtual world. Web 3.0 strives for transparency and the users will see lots of content which are accessible to all. Let’s see the top 10 cryptocurrencies that are expected to win the Web 3.0 race in 2022.
Helium is a decentralized blockchain-powered network for IoT devices that utilizes a global network of low-energy wireless hotspots to broadcast data through radio waves to be recorded in the blockchain. The network uses a new algorithm, known as the proof-of-coverage consensus, to validate that the hotspots are providing legitimate wireless coverage.
Filecoin is like the filing cabinet for Web 3.0. It is a decentralized storage network that serves as a secure alternative to centralized cloud storage and a passive way of making money. Filecoin can be used to store almost any type of data, be it audio files, videos, still images, or text. It also claims to be secure enough to store more sensitive information like private company information and records.
Investing in Kusama is like taking a detour via Polkadot. Kusama was set and carried out due to its proven records for the success of parachains. Developers can use this crypto to solve various problems related to their projects. Just like DOT, developers compete to get a spot on the Kusama network through parachain auctions. Experts consider Kusama a profitable short-term investment as the network is older and stronger.
Polkadot is one of the most popular cryptocurrencies in the global market, but investors might not know that it is a Web 3.0 project. The network is known for seeking scalability and compared to Ether, it ranks higher when it comes to charging low fees and offering fast speeds. Because of its top-ranking position and gradual rise in market value, DOT can stand as the market leader, and head the decentralized internet sector.
BitTorrent is the first torrent tracker and the most potent peer-to-peer network in the world. Large files are divided into fragments and transmitted over the web in a fragmented form, merging into one whole on the recipient’s computer. Everyone who downloads the file from the network automatically becomes a part of the distribution.
Kadena is a scalable PoW layer-one blockchain protocol that claims to be capable of processing up to 480,000 transactions per second (TPS), thanks to the use of braided chains. Unlike the top PoW cryptocurrency Bitcoin, Kadena offers smart contract capabilities similar to those in Ethereum.
ZCash is one of the first privacy-built cryptocurrencies, which was developed by a group of scientists from John Hopkins, MIT, and other eminent academic and scientific institutions. Interestingly, this privacy coin was originally built on the Bitcoin codebase with the only difference of being a privacy feature option.
Flux aims to provide the groundwork for the developers to build out this new iteration of the web. With the help of Flux, users can develop Web 3.0 applications and decentralized projects and then deploy them across various networks. This becomes especially efficient with the help of FluxOS- a decentralized operating system made just for Flux users. It also offers blockchain-as-a-service (BaaS), which is very similar to SaaS.
Livepeer is a decentralized video streaming network built on the Ethereum blockchain. The protocol provides cost-effective broadcast and streaming services directly at the Web 3.0 video stack layer. The Livepeer protocol defines the secure and most cost-effective participation of the various actors in the streaming ecosystem. It mainly addresses two goals- distribution of real-time video and encouraging network participants.
Ocean Protocol (OCEAN)
OCEAN is another crypto that offers all the tools needed to build a Web 3.0 solution. The token makes one of the best investments for those looking to invest in a Web 3.0 token with much potential. The protocol has developed several tools needed to develop Web 3.0 applications. The protocol also focuses on decentralizing the concept of data sharing on the internet, which offers access and transparency when handling data.
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