Blockchain technology has been gaining a lot of traction in recent years. While the bulk of the world tries to come up with new ways to invest in blockchain and cryptocurrency, Web 3.0 is set to emerge as the foundation of something much bigger than the IT industry could have dreamed of. While Web 1.0 and Web 2.0 aided in the growth of the internet, Web 3.0 is bolder, emphasizing decentralization by providing consumers control over their data.
What is Web 3.0?
Web 3.0 refers to the third-generation internet, in which apps and websites process data in a more human-like manner. Many of the controls over the internet, according to Web 3.0 proponents, are currently in the hands of large corporations. These so-called IT giants make decisions about how data is kept and how web-based services function. These large corporations have enormous power, and the average person has no recourse.
Through decentralized autonomous organizations (DAO), blockchain has the potential to decentralize the entire field. A DAO is a concept in which users can vote on the governance of any project or program. Furthermore, blockchain project tokens, such as Ethereum’s Ether, may play a larger role in the Web 3.0 economy.
The live Filecoin price today is $17.52 and has a market cap of $3,123,603,164. It is a decentralized storage network that may be used as a secure alternative to centralized cloud storage as well as a means to earn money passively. The storage may store practically any sort of material, including music files, videos, still photographs, and text. It also claims to be secure enough for more sensitive data, such as confidential company records and information.
On the investor side, they get compensated for supplying storage capacity. The network promotes competitive prices by allowing anyone to make storage space available to Filecoin customers. The provider can make available unused hard drive space on the network for the storage of other people’s data. The FIL is then earned passively by the sellers. Naturally, the more storage a person offers, the more FILs they will receive.
The live Helium price today is $22.71 and has a market cap of $2,575,094,234. Its goal is to bring the internet to everyone. The project provides a web service that competes with ISP giants such as Verizon and AT&T. It combines blockchain technology with physical hotspots to provide people with global wireless internet access. The network has introduced several 5G hotspots to provide the fastest possible connection speed.
This way of connectivity is quite useful to hardware owners. When another user connects with them, they will receive HNT tokens. As a result, providers in high-traffic regions are urged to deploy the hardware. Furthermore, end users will be better rewarded for joining the network and helping it expand in popularity. End users will have more hotspots to connect to as more validators and hotspot providers identify lucrative opportunities in HNT. By updating the offerings from ISPs, Helium continues to introduce a lot of novel services.
The live Flux price today is $1.45 USD, and the market cap of $332,074,172. Flux is the next generation of decentralized cloud architecture that is scalable. Web 3.0 applications and decentralized projects can be developed by users and then deployed on networks. FluxOS, a decentralized operating system for Flux users, makes this possible.
It invites users and enterprises to deliver decentralized applications using FluxOS and the network’s cloud computing capabilities. The network includes a variety of applications for the services, including Oracle-hosted services that aggregate data from all over the blockchain web.
Because it uses a proof-of-work consensus mechanism, Flux attracts a lot of interest. FLUX can be broken down using computer graphics processors (GPUs), with fresh data blocks being generated every two minutes in the throughput network. During the FLUX price boom, it became especially profitable. Just recently, the FLUX network introduced 30 dApps at the same time.
The live BitTorrent price today is $0.002251 and has a market cap of $2,228,138,241. It is a popular peer-to-peer (P2P) file sharing and torrent platform that has recently become more decentralized. It was first launched in July 2001, and later it was purchased by the blockchain platform TRON in July 2018.
BitTorrent has added a number of additional capabilities after its acquisition, including a dedicated native cryptocurrency token. TRON’s own blockchain, which uses the TRC-10 standard, was used to launch BTT. BitTorrent works by breaking down files people upload into several fragments, storing those fragments across multiple network nodes, then reassembling the file on the computer of the person who gets the file.
A user can play one of two roles in BitTorrent: seeds or peers. A seed is someone who shares a complete copy of a file, while a peer is someone who receives the file in bits and pieces. Every user who downloads a file automatically becomes a seed and becomes a part of the ecosystem.
The live Polkadot price today is $19.00 and has a market cap of $18,760,954,672. It aims to establish a multi-chain framework that is heterogeneous. It has attracted a large number of investors, developers, and users and is widely regarded as one of the most innovative ventures in the cryptocurrency sector.
The Polkadot ecosystem, which is powered by the DOT, the network’s native coin, aims to address several of the current constraints of blockchains, such as scalability and security. It functions as a solution that combines the technology’s individual features.
Web 3.0 is the internet’s next incarnation, with a focus on decentralization. Users can intelligently communicate and collaborate via this network without having to bother about central and data-specific repositories. It aims for transparency, and users will have access to a limitless amount of resources, content, and agreements. The best Web 3.0 blockchain-powered projects include Filecoin, Helium, FLUX, BitTorrent, and Polkadot.