#What is Web 3.0? List of best Web 3.0 based Crypto You Must See (2023)

What is Web 3.0? List of Web 3.0 based Crypto You Must See

 

Introduction:

The internet has come a long way since its inception in the 1990s. From the static web pages of the early days to the dynamic and interactive websites of today, the internet has undergone a significant transformation. However, the internet is set to undergo another transformation in the coming years, as we move towards Web 3.0. Web 3.0 is the next evolution of the internet, which promises to be more decentralized, secure, and user-centric. Unlike the current centralized web, which relies on large corporations to store and manage data, Web 3.0 aims to use blockchain technology to create a more decentralized and transparent internet.

In this blog post, I’ll explore what Web 3.0 is and list the best Web 3.0 based cryptocurrencies you must see.

What is Web 3.0?

Web 3.0 is the next evolution of the internet, and it’s is often referred to as the decentralized web. It is a new paradigm that seeks to create a more decentralized and user-centric internet. It is built on top of blockchain technology, which allows for data to be stored and managed in a decentralized and secure manner, which provides a secure and transparent platform for building decentralized applications (dApps).

Web 3.0 is all about decentralization, which means that it removes the need for intermediaries or central authorities that control the flow of information and data. This creates a more open and transparent internet, where users have more control over their data and privacy, and data breaches and censorship are less likely to occur.

Web 3.0 is also designed to be more interoperable, which means that different blockchain networks can communicate with each other. This will enable the creation of a more interconnected blockchain ecosystem, where users can easily access and use different blockchain applications.

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Best Web 3.0 based cryptocurrencies you must see

 

1.  Ethereum (ETH)

Ethereum is the second-largest cryptocurrency by market capitalization and is widely regarded as the leading Web 3.0 based cryptocurrency. Ethereum is a decentralized platform that allows developers to build and deploy decentralized applications (dApps) on its blockchain. Ethereum is used to power many of the most popular dApps, such as Uniswap and Aave.

Ethereum's native cryptocurrency is Ether (ETH), which is used to pay for transaction fees and to incentivize miners to secure the network. Ethereum is widely used in the decentralized finance (DeFi) space, where it is used to power some of the most innovative and disruptive projects in the cryptocurrency market.

Ethereum has a Market cap of more than $214 billion. Ethereum has experienced tremendous growth. From April 2016 to the end of May 2023, its price went from about $11 to around $1,847, increasing 16,693%.

One Ethereum (ETH) token cost $1782, with a market cap of $214,510,177,920.

2.  Polkadot (DOT)

Polkadot is a decentralized platform that allows for the interoperability of different blockchain networks. Polkadot is a next-generation blockchain platform that aims to create a more interoperable and scalable blockchain ecosystem, where different blockchains can communicate with each other and exchange value in a more efficient and secure manner. Polkadot is also designed to be more scalable, which means that it can handle more transactions per second than other blockchain networks.

Polkadot's native cryptocurrency is DOT, which is used to pay for transaction fees and to incentivize validators to secure the network. Polkadot is often used in the DeFi space, where it is used to power cross-chain transactions and decentralized exchanges.

Polkadot has a Market cap of $9 billion. Its native token, DOT, is currently trading at $7.51— at an 86.38% discount to its maximum price of $55.

One Polkadot (DOT) token cost $5.2, with a market cap of $6,181,179,033.

 

3.  Cardano (ADA)

Cardano is a decentralized blockchain platform that aims to create a more sustainable and scalable blockchain ecosystem. Cardano (ADA) is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification in platforms like Bitcoin. It is often referred to as the third-generation blockchain, as it seeks to address some of the scalability and security issues of earlier blockchain networks.

Cardano's native cryptocurrency is ADA, which is used to pay for transaction fees and to incentivize validators to secure the network.

Somewhat later to the crypto scene, Cardano is often used in the DeFi space, where it is used to power lending and borrowing platforms. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which ADA, its native coin, powers.

Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of May. 9, 2023, its price was at $0.37. This is an increase of 1,730%. It has amarket cap of $12.7 billion.

One Cardano (ADA) token cost $0.35, with a market cap of $12,293,227,001.

4.  Filecoin (FIL)

Filecoin is a decentralized storage network that aims to create a more decentralized and secure way to store data. It uses blockchain technology to create a decentralized marketplace for data storage, where users can rent out their unused storage space to other users. Filecoin is often referred to as the Airbnb of data storage.

Filecoin's native cryptocurrency is FIL, which is used to pay for storage fees and to incentivize miners to secure the network. Filecoin is often used in the decentralized storage space, where it is used to power some of the most innovative and disruptive projects in the cryptocurrency market.

With a market capitalization of $3.04 billion, the FIL token is now the 27th largest cryptocurrency by market cap. In 2023, the token's market cap tripled, surging to $4.5 billion on February 20 from $1.5 billion at the beginning of the year.

One Filecoin (FIL) token cost $4.3, with a market cap of $1,821,646,507.

5.  Chainlink (LINK)

Chainlink is a decentralized oracle network that allows smart contracts to interact with real-world data. It aims to create a more secure and reliable way for smart contracts to access external data sources, which is crucial for the development of decentralized finance and other blockchain applications.

Chainlink's native cryptocurrency is LINK, which is used to pay for oracle services and to incentivize node operators to secure the network. Chainlink is widely used in the DeFi space, where it is used to power some of the most innovative and complex smart contracts.

1,600+ projects in the Chainlink ecosystem. The Chainlink ecosystem is now one of the largest ecosystems in Web3, with projects in categories as wide-ranging as DeFi, NFTs, gaming, and insurance integrating Chainlink oracle services for secure off-chain data, proof of reserves, randomness, automation, and more.

One Chainlink (LINK) token cost $6.3, with a market cap of $3,259,636,792.

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  6.   Theta (THETA)

Theta is a decentralized video streaming platform that aims to create a more decentralized and user-centric video streaming experience. It uses blockchain technology to create a more secure and transparent video streaming platform, where users can earn rewards for sharing their unused bandwidth and computing resources.

As of Dec. 24, 2022, the trading volume and market cap were $4.09 million and $777.66 million, bringing the turn-over ratio to 0.0052.

One Theta (THETA) token cost $0.88, with a market cap of $884,484,032.

7.  Uniswap (UNI)

Uniswap is a decentralized exchange that allows users to trade cryptocurrencies without the need for intermediaries or central authorities. It aims to create a more open and transparent trading environment, where users can easily exchange different cryptocurrencies in a more efficient and cost-effective manner.

Uniswap's native cryptocurrency is UNI, which is used to govern the Uniswap protocol and to incentivize liquidity providers to supply liquidity to the exchange. Uniswap is widely used in the DeFi space, where it is used to power decentralized trading and liquidity provision.

 

Uniswap is the largest decentralized finance crypto exchange and the 22nd largest coin in the world. The launch of the UNI token saw its price surge to a record high of $45.00, creating a more than 2,279% surge higher from September 2020 to May 2021.

One Uniswap (UNI) token cost $5, with a market cap of $2,894,999,372.

 8.  Tezos (XTZ)

Tezos is a decentralized blockchain platform that allows for the creation of smart contracts and dApps. It is designed to be more secure and scalable than other blockchain platforms, and it uses a proof-of-stake consensus algorithm, which means that users can earn rewards for staking their Tezos tokens.

2022 was rough for crypto in general, and Tezos was no exception. The altchain’s native coin XTZ corrected over 92% as of Dec. 1, 2022. The peak price of Tezos is $9.18, which it touched on Oct. 4, 2021. The current price of XTZ is $0.71.

One Tezos (XTZ) token cost $0.87, with a market cap of $821,843,157.

 9.  Maker (MKR)

Maker is a decentralized platform that allows users to create stablecoins that are backed by collateral. It uses a decentralized governance system, where users can vote on changes to the platform. Maker is used by many DeFi projects, and its stablecoin DAI is often used as a stable store of value in the cryptocurrency market.

At the time of writing this blog for Maker on 11 May 2023, one Maker (MKR) token cost $616, with a market cap of $602,549,433. Maker has a circulating supply of 977,631.04 MKR and a maximum supply of 1,005,577 MKR. 

10.     Aave (AAVE)

Aave is a decentralized lending and borrowing platform that allows users to borrow and lend cryptocurrencies without the need for intermediaries or central authorities. It aims to create a more open and transparent lending environment, where users can easily access credit in a more efficient and cost-effective manner.

Aave's native cryptocurrency is AAVE, which is used to govern the Aave protocol and to incentivize liquidity providers to supply liquidity to the platform. Aave is widely used in the DeFi space, where it is used to power decentralized lending and borrowing.

One Aave (AAVE) token cost $61.6, with a market cap of $886,363,405.

11.       Compound (COMP)

Compound is a decentralized lending and borrowing platform that allows users to earn interest on their cryptocurrencies by lending them out to other users. It aims to create a more open and transparent lending environment, where users can easily access credit in a more efficient and cost-effective manner.

Compound's native cryptocurrency is COMP, which is used to govern the Compound protocol and to incentivize liquidity providers to supply liquidity to the platform. Compound is widely used in the DeFi space, where it is used to power decentralized lending and borrowing.

One Aave (AAVE) token cost $34.26, with a market cap of $255,447,001.

 12.     SushiSwap (SUSHI)

SushiSwap is a decentralized exchange that allows users to trade cryptocurrencies without the need for intermediaries or central authorities. It aims to create a more open and transparent trading environment, where users can easily exchange different cryptocurrencies in a more efficient and cost-effective manner.

SushiSwap's native cryptocurrency is SUSHI, which is used to govern the SushiSwap protocol and to incentivize liquidity providers to supply liquidity to the exchange. SushiSwap is widely used in the DeFi space, where it is used to power decentralized trading and liquidity provision.

One SushiSwap (SUSHI) token cost $0.86, with a market cap of $199,848,536.

13.     The Graph (GRT)

The Graph is a decentralized indexing and querying protocol that allows developers to easily access and query data from different blockchain networks in a more efficient manner. It aims to create a more open and interconnected blockchain ecosystem, where developers can easily access and use data from different blockchains. The Graph is used by many DeFi projects, such as Aave and Uniswap.

The Graph's native cryptocurrency is GRT, which is used to pay for indexing and querying services and to incentivize node operators to secure the network. The Graph is widely used in the DeFi space, where it is used to power decentralized trading and liquidity provision.

One The Graph (GRT) token cost $0.11, with a market cap of $996,988,823.

14.     Golem (GLM)

Golem is a decentralized network that allows users to rent out their unused computing power to other users. It aims to create a more decentralized and efficient computing network, where users can easily access computing resources in a more cost-effective manner. Golem is often used for computationally intensive tasks, such as rendering and machine learning.

One Golem (GLM) token cost $0.21, with a market cap of $213,688,858.

Potential Risks & Opportunities : Web 3.0 Based Cryptocurrencies

As with any investment, there are potential risks and opportunities associated with investing in Web 3.0 based cryptocurrencies. The main risk associated with investing in Web 3.0 based cryptocurrencies is the volatility of the cryptocurrency market. The cryptocurrency market is known for its high volatility, and Web 3.0 based cryptocurrencies are no exception. This means that investors should be prepared for the possibility of significant price swings in the short term.

However, there are also many opportunities associated with investing in Web 3.0 based cryptocurrencies. Web 3.0 is a rapidly growing industry, and there is a lot of potential for innovation and growth in this space. Many Web 3.0 based cryptocurrencies are used to power some of the most innovative and disruptive projects in the cryptocurrency market, such as DeFi and NFTs.

Additionally, Web 3.0 based cryptocurrencies are often seen as a hedge against inflation and the traditional financial system. With the growing concerns over inflation and the fragility of the traditional financial system, many investors are turning to Web 3.0 based cryptocurrencies as a way to diversify their investment portfolio and protect themselves against potential economic downturns.

Conclusion:

Web 3.0 is set to revolutionize the internet, and it is clear that blockchain technology will play a crucial role in this transformation. The Web 3.0 based cryptocurrencies listed above represent some of the most innovative and disruptive projects in the cryptocurrency market, and they are likely to play a significant role in the development of the decentralized web.

However, it is important to remember that investing in cryptocurrencies is inherently risky, and investors should do their own research and understand the potential risks before investing. As with any investment , it is important to diversify and not to invest more than you can afford to lose.

While the Web 3.0 based cryptocurrencies listed above represent some of the best investment opportunities in the cryptocurrency market, it is important to keep in mind that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Therefore, it is important to stay up-to-date with the latest market trends and news, and to make informed investment decisions based on sound research and analysis.

In conclusion, Web 3.0 is set to usher in a new era of the internet, and blockchain technology is at the forefront of this revolution. The Web 3.0 based cryptocurrencies listed above represent some of the most promising and innovative projects in the cryptocurrency market, and they are likely to play a significant role in the development of the decentralized web. As with any investment, it is important to do your own research and to invest wisely, taking into account the potential risks and opportunities associated with each project.

 

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Disclaimer: This post is for informational purposes only and contains statements about the future, including anticipated programs, products and features, developments, and timelines for the rollout of these new products and features. These statements are only predictions and reflect current beliefs and expectations with respect to future events; they are based on assumptions and are subject to risk, uncertainties, and change at any time. There can be no guarantee that any of the contemplated programs, products or features will be implemented as specified or at all nor any assurance that actual results will not differ materially from those expressed in these statements, although we believe them to be based on reasonable assumptions. All statements are valid only as of the date first posted and I may not update this post in response.