The internet version 3.0, commonly named Web 3.0, has introduced a brand new internet ecosystem that’s decentralized and transparent. It is encouraging the adoption of token-based and permissionless app economies. Web 3.0 projects are harnessing the potential of blockchain technology to establish privacy-preserving and community-led internet apps. This article will walk you through a compiled list of the top 10 Web 3.0 projects globally that are revolutionizing the crypto and internet space.
Basic Attention Token (BAT)
BAT comes among the native Web 3.0 crypto projects that are powered by the Brave Web 3.0 browser. Brave provides an open-source web browser anyone can use without paying any fee. In fact, it returns BAT tokens as gains to its users for their views. The users only need to watch privacy-preserving advertisements over the platform to earn passive income. Also, the Web 3.0 project effectively halts website trackers from following the users around online.
Oracle is known to be the essential parameter for a Web 3.0 project that ensures it obtains precise, quick, and accurate data to use on Web 3.0 platforms. The chainlink represents itself as an adapted technology to numerous crypto projects, including NFT, DeFi, and exchange platforms. It gives timely oracle services. It is interesting to note that Chainlink shares about 70% of the market capitalization of the entire oracle project.
This new internet crypto project operates over Blockstacks, a decentralized computing platform.
The project leverages blockchain technology to expand Bitcoin’s functionalities by operating in the form of a second layer protocol.
Aside from this, Blockstacks also facilitates secure data sharing among users. The platform users don’t need to upload data or information to an external website or app, such as Facebook and WhatsApp. In fact, it lets users own their data (files, text, videos, images, etc.). The project enables dApps to run locally on the browser of the user.
Data refers to the vital parameters of Web 3.0. So, it needs to be read and stored over decentralized platforms and utilized conveniently during the period of need. Filecoin is considered the market leader in the space of Web 3.0 storage projects. In addition to it, Filecoin provides a highly competitive fee for storing the file than existing centralized services. The project provides access to numerous privacy-preserving features that users can leverage.
It is a decentralized Web 3.0 storage project. It efficiently stores the entire data of the Solana network. Furthermore, the increase in the Solana Network can potentially take support from Arweave due to continuous huge data generation. Solana comes among many other partners of Arweave. The Arweave Web 3.0 project has created a protocol that establishes a true permanent information storage network that gets support from a sustainable endowment.
The project is a middle-layer query protocol. It facilitates developers to create dApps on the Ethereum blockchain platform as quickly as possible. The Graph wishes to emerge as a decentralized Web 3.0 layer that would not get overpowered or influenced by the tech conglomerates. Additionally, the project remarkably reduces the required time amount to launch dApps to the market quickly. Thus, it saves a great amount of energy and time during the time of the developmental process.
Aside from blockchain-based systems and Metaverse, other disruptive advancements like Hotspot technologies, 5G, and IoT are highly talked about. Helium (HNT), one of the top 10 Web 3.0 projects, is known to maintain a unique framework that connects routers and computers and lets machines interact with one another through blockchain tech.
Theta network works as a protocol that deals with how connected devices should interact with one another in Web 3.0. It uses a certain set of rules to govern these interactions between billions of its members. It allows users to establish themselves within a bottoms-up network and not like the hierarchical systems that follow a top-down network.
The project gives access to needed tools to facilitate effective communication and transfer of value and data between users. The P2P data relay of Theta Network boosts the efficiency of the video streams and data-heavy application delivery. Thus, the project makes it more effective and cheap for platforms moving huge data amounts.
This project refers to a blockchain-based protocol for file sharing. BitTorrent utilizes its inherent BTT token to reward users in the token-driven economy. The users receive rewarding tokens only when they remove their hard drive space as well as computing resources. Also, it plans to place collaborative partnerships among users to share huge data quantities without trusting an intermediary. The project provides decentralized sharing of files along with a streaming service and browser-based torrent.
The Web 3.0 project is known to be an IoT data transferring protocol that utilizes DAGs ( Directed Acyclic Graphs) in place of blockchain technology. DAGs use distributed ledger technology that has almost similar functionalities to blockchain but with better efficiencies. For example, DAGs based project does not charge any fee while making a transaction on the Web 3.0 platform. Due to this, it can provide greater throughput and scalability. The project enables senders to verify two extra transactions alongside each of their own to attain this.
This procedure makes the value of exchanging data cost-effective and quick. This Web 3.0 project aims to establish a diverse trustless virtual economy.
The quick emergence of the Web 3.0 movement has encouraged the decentralization of the existing central systems. It could be in the area of transaction, data sharing, or the way people trade, buy and sell goods and services. The businesses adapting to these innovations are setting them up to be the front-runner in the present and futuristic market competition.
The Web 3.0 platform brings a wide range of applications for businesses and developers, encouraging trustless and decentralized technologies. By allowing users to have sole control over their data through transparency, consensus, and decentralization, the Web 3.0 internet is pushing the boundaries of every digital sector to become more user-centric.
Aurora has worked with a leading crypto news site as a Journalist. Aurora is working as Senior Journalist with Coinfea. She loves to travel in her free time.