Despite the crypto market displaying high volatility every now and then, one cannot deny that the crypto space had a phenomenal run in 2021. Aside from cryptocurrencies surpassing their all-time high (ATH) one after another, there are many amazing developments worth our attention.
We also witnessed outstanding growth in the Web 3.0 space. In fact, it is now gaining a lot of attention among thought leaders and retail investors alongside the metaverse space. This is why we have created a list of top 8 Web 3.0 cryptocurrencies to invest in this 2022.
But before we proceed to our top 8 Web 3.0 cryptocurrency list, let us first know what is Web 3.0 all about.
What Is Web 3.0?
Web 3.0 is dubbed as the third iteration of the Internet. The most basic Web 3.0 definition is that Web 3.0 is a more decentralized Internet using blockchain technology. That might not make a lot of sense to others, but if in case you have ever wondered how a specific social media platform has started showing you ads based on the most recent movie you watched, it’s because the Internet as we know it is not private.
At the moment, a lot of companies are focusing on creating Web 3.0 solutions with ample backing from institutional investors. Some of them have already created their own token, which we expect to become pivotal to the Web 3.0 space.
Now that we know what is Web 3.0, let us immediately get down to business. Let us find out the top 8 Web 3.0 cryptocurrencies to invest in this 2022.
Our top Web 3.0 cryptocurrency needs no further introduction to many people. But for those who have little background in the blockchain space, Polkadot is a leading blockchain platform that facilitates file and asset transfer across multiple blockchains.
One thing that Polkadot has popularized, if not introduced, is the concept of parallel chains, or simply parachains. Aside from the Polkadot blockchain, there exist parachains that have specific use cases for other projects.
Some may be wondering what is the difference between a sidechain and a parachain. Well, a sidechain functions as a means to enhance the main blockchain. In contrast, a parachain is more autonomous.
Polkadot’s native cryptocurrency DOT is one of the top performing cryptocurrencies today. As of the time of writing, DOT is the ninth highest market cap coin on CoinGecko.
Kusama is Polkadot’s sister chain, and it is only right that we name Kusama as the second biggest Web 3.0 crypto in our list. In terms of code, Kusama is identical to Polkadot. The only difference between the two is that Kusama is the experimental development network for developers who want to innovate or deploy on Polkadot.
Just like Polkadot, Kusama also has parachains. Moreover, the main Polkadot and Kusama blockchains are called relay chains, while project-specific blockchains are parachains.
Kusama’s native crypto KSM is ranked 64th on CoinGecko.
BitTorrent is one of the proofs that the Web 3.0 concept existed before cryptocurrencies did. If you spent a part of your younger years leeching movies through torrenting platforms, then you surely have heard of BitTorrent. In fact, prior to TRON acquiring BitTorrent, the latter had nothing to do with cryptocurrencies.
Today, BitTorrent is more than a file-sharing platform. It is now a distributed network that provides cross-chain compatibility. Of course, the BitTorrent platform still enables people to seed and leech files from anywhere in the world.
BitTorrent recently launched its BitTorrent Chain, and it is performing a token swap for its BTT token. There is now a maximum supply of 100 billion BTT tokens.
Another leading Web 3.0 cryptocurrency that you should invest in 2022 is Filecoin. Yes, the name is a merge of two words (file and coin). In its shortest definition, Filecoin is a decentralized blockchain that facilitates the peer-to-peer exchange of files. It is very similar to BitTorrent.
One primary difference, however, is that Filecoin uses the so-called InterPlanetary File System (IPFS). In fact, it is one of the most popular Web 3.0 cryptocurrencies to use this new technology. In the coming years, we expect more blockchains to use the IPFS.
Filecoin’s native cryptocurrency FIL has been in the top 50 cryptocurrency list in terms of market capitalization. Its most recent position is the 39th spot.
If you have been looking for best cryptocurrencies to invest in 2022, we suggest you take a serious look at Web 3.0 platforms. They are some of the highest-valued coins right now. One of these is Helium.
Unlike Filecoin, Helium was probably named after the naturally-occurring gas that makes balloons fly. In the crypto space, Helium describes itself as “The People’s Network”. It merges blockchain technology with LoRaWAN, which is a low-power and widely-available networking protocol.
In essence, Helium is a decentralized wireless network that connects people and devices. That’s a pretty clear-cut example of a Web 3.0 if you ask us.
Another interesting Web 3.0 cryptocurrency that you should seriously consider investing in is Kadena. Despite being a relatively new cryptocurrency, Kadena’s native currency (KDA) already has a market capitalization of almost $2 billion.
Kadena describes itself as a secure and scalable blockchain network. Like Bitcoin, it uses the Proof-of-Work (PoW) mechanism. However, it uses an advanced technology that enables it to boost its transaction speed as more chains connect to it.
The concept behind Kadena is to provide an enterprise-grade blockchain for the financial industry. The network is compatible with other Web 3.0 blockchains such as Polkadot.
Okay, maybe finance or file-sharing is not your thing. So, what about decentralized video streaming? Introducing Livepeer, a video streaming network that uses the Ethereum blockchain.
Livepeer has been present for the last couple of years, although it did not have as much attention as today. However, as a Web 3.0 platform, Livepeer is becoming popular within the blockchain space since decentralized video streaming will become a hit in the future. Also, it will also become one of the catalysts for Web 3.0.
8. Ocean Protocol
The last but definitely not the least on our top 8 Web 3.0 cryptocurrencies to invest in 2022 is Ocean Protocol. It is one of the fastest-growing Web 3.0 platforms today. According to the team, Ocean Protocol is a blockchain-based data marketplace that offers stunning security and privacy.
In other words, Ocean Protocol provides people a marketplace to buy or sell data while maintaining their privacy. This is very crucial for Web 3.0 because through platforms such as Ocean Protocol, no marketer or government will be able to exploit social media sites to gather personal information. They will have to get the consent of people and even pay the latter for their data. How cool is that?
Disclaimer: No information in this article should be considered as investment advice. CryptoNewsLand does not make assurances about the future performance of the tokens mentioned above nor the success of their project. Everyone is encouraged to make his own research before making any investment decision, given that cryptocurrencies are known to be volatile in nature.
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