To understand the Web 3.0 and Web 3.0 coin projects, we must first understand the evolution of the internet. Web 1.0 is often used to refer to the primitive state of the internet in the early 1990s. The initial state of the Internet was extremely slow, devoid of visuals and interaction. However, the internet developed and started to be defined as Web 2.0 in the early 2000s. With Web 2.0, interaction, visuality, 5G bandwidth, smartphones and social media platforms entered our lives.
Web 3.0 refers to the latest revolutionary advancement in the development of the internet. This will bring technologies such as blockchain, smart contracts, cryptocurrencies, decentralization and artificial intelligence to the internet. These technologies are attracting more and more investors. Many projects have already emerged in the blockchain space focusing on Web 3.0, and some of them are extremely successful. These projects have their own cryptocurrencies, in keeping with the nature of Web3. These Web 3.0 coin assets allow you to invest in the internet of the future.
Top 10 Web 3.0 coins
Helium (HNT)
Blockchain-based decentralized network Helium connects Internet of Things (IoT) devices. It uses a consensus mechanism called Proof-of-Coverage for this. With Helium, users can set up their own decentralized network. This network runs through Helium’s nodes, called hotspots. With these nodes, users can send data to each other and to their devices. However, hotspots also serve as a mining node. Users who purchase or trade these points earn the platform’s Web 3.0 coin asset HNT.
Theta (THETA)
Theta is like Airbnb for the video streaming market. On this platform, users get paid for contributing extra processing power and bandwidth. Steve Chen, co-founder of YouTube, claims that Theta will boost the internet video market in much the same way that YouTube did in 2005. Currently, Theta is solving the problem of YouTube sending videos to certain parts of the world. In addition, while doing this, it reduces costs by maintaining quality.
Theta says it’s essential to provide high-quality streaming to all users. Many analysts already see Theta as the YouTube of Web 3.0. The platform’s Web 3.0 coin asset TFUEL is distributed to users who contribute bandwidth and computing resources. However, to participate in Theta’s governance, you need to use the project’s different token, THETA. Working with the Proof-of-Stake mechanism, the network also allows you to do token staking.
Polkadot (DOT)
It is possible to transfer any asset or piece of data between Polkadot and Blockchains. In addition, these services are not only valid for tokens. Polkadot users can collaborate with several Blockchains within the Polkadot network, sometimes known as parachains. The network provides the interoperability required for Web 3.0, unlike competing networks such as Ethereum. It does this thanks to the different and autonomous structures of parachains.
The decentralized project offers both a Layer-0 solution called “Relay Chain” which is known to increase scalability and a Layer-1 solution called “Parachain” which acts as a link between chains. Founded by the Ethereum co-founder, the project hosts a Web 3.0 coin asset called DOT. This cryptocurrency is used for Parachain slot auctions and governance.
vomiting (KSM)
Kusama is a highly scalable and open source Blockchain network. Kusama’s Substrate framework enables building customizable Blockchains. Blockchain developers have the advantage of expressing their creativity and generating new networks quickly. Also, the network supports the idea of subverting the existing order and giving users more control. In addition, the Web 3.0 coin project was developed by Gavin Wood, who also founded Polkadot and Ethereum.
Filecoin (FIL)
Filecoin (FIL) is a decentralized marketplace for cloud storage. It is also supported by many storage providers and developers to support organizations and projects in finding affordable, decentralized and secure data storage solutions. As a result, large archives, NFTs and frequently accessed data are regularly stored using Filecoin. Users also have the advantage of renting and purchasing storage space with the Filecoin network’s Web 3.0 coin asset FIL.
Chainlink (LINK)
Chainlink is a decentralized oracle network. This network enables the execution of smart contracts based on inputs and outputs from the real world. Steve Ellis and Sergey Nazarov founded the network in 2017. After its founding, Chainlink quickly became the market leader in the Blockchain oracle industry. Configured and maintained by smart contracts, the operation of Web3 is dependent on Oracle networks such as Chainlink.
The platform’s Web 3.0 coin asset LINK is used for purposes such as providing uptime guarantees, transforming data into Blockchain-readable forms. It can also be spent on accessing off-chain data sources for smart contracts. However, node operators within Chainlink receive their rewards with LINK. In the meantime, let’s mention that a staking system will be coming to the network in the near future.
Siacoin (SC)
Sia is a cloud storage system that allows users to rent extra network storage capacity. This system is decentralized and based on Blockchain. Thus, it has the possibility to facilitate transactions through smart contracts. Meanwhile, users must have SC to rent data storage space on the network. Siacoin is superior to its competitors in terms of storage rates due to its decentralized nature. Therefore, SC, a Web 3.0 coin, is one of the largest assets in the space.
Audius (AUDIO)
Audius is a music streaming platform that aims to give everyone the freedom to share, market and publish an audio file. Accordingly, musicians can publish their tracks on Audius and create a fan base. Artists like 3LAU, deadmau5, Rezz and Stafford Brothers are already promoting Audius. The platform also offers high quality audio at 320 kbps. There is also a collaboration between Audius and the popular social media platform TikTok.
Aiming to make the music industry more decentralized and fair, Audius has a native cryptocurrency called AUDIO. This Web 3.0 coin grants access to governance, network security and special features. Users can also stake AUDIO. Staking AUDIO allows artists to vote with badges, artist tokens and fans.
Kadena (KDA)
Kadena aims to power international financial systems. In addition to outstanding energy efficiency and PoS security, Kadena provides more secure smart contracts. Unlike many other systems, the network continues to use the same amount of energy even as grid demand increases. It has the advantage of performing 480,000 transactions per second (TPS) due to the use of braided chains. The protocol scales to larger processing powers as additional off-chain data feeds are added.
The native cryptocurrency of this platform is KDA, a Web 3.0 coin. KDA is the only payment instrument used for processing transactions on the Kadena network. Accordingly, mining of the entire 1 billion KDA will take place in 120 years.
Arweave (AR)
Arweave describes itself as a jointly owned hard drive that never forgets. It also provides permanent data storage at a one-time cost. So basically it is a decentralized storage network. However, this network, unlike its competitors, allows for unlimited data storage. Imagine storing your family photo on this platform and generations later your grandchildren see these photos. That’s what Arweave is trying to do.
The network uses a version of Blockchain that connects a new block to its predecessor and a randomly chosen block before it. This technology is called block knitting technology. It also puts the “permaweb” at the center of everything, a persistent, decentralized web that includes platforms and applications such as UI hosting, database authoring, querying, and smart contracts. The network has received funding from giant firms such as Union Square Ventures, Andreessen Horowitz, and Coinbase Ventures.
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