Web 3.0 means the third type of the internet. Before Web 3.0, Web1.0 and Web 2.0 were regarded as the first and second internet versions, respectively. The Web 3.0 project is a novel cryptocurrency initiative being utilized to take over power from the tech giants. Some of these tech giants are Meta, formerly referred to as Facebook, and other technology incorporations, which have shown that they do not have the interests of the common man at heart. Hence, Web 3.0 streamlines them.
Web 3.0 projects are a form of cryptocurrencies. Being a cryptocurrency, they provide the benefit of transacting from anywhere globally. However, not all countries support crypto trading and have blocked the trades from happening. To circumvent that challenge, you can download and install VPN to your Windows which encrypts your internet traffic, allowing you to trade cryptocurrencies globally. A VPN masks your online traffic, ensuring no one sees what you send or receive. Hence, your online activities remain safe and private.
If you want to invest in a Web 3.0 project, why not consider the following five outstanding Web 3.0 projects?
1. Helium (HNT)
Helium is a common Web 3.0 project of cryptocurrency responsible for delivering the internet into everybody’s hands. It provides a web service meant to bring competition to the ISP giants such as Verizon plus AT&T. Helium utilizes two main aspects to bring competition; the blockchain and physical hotspots. The hotspots provide an avenue for users to join a wireless internet globally.
The users can buy the hotspot hardware within an apartment. Another Helium user outside the apartment intending to connect to the wireless internet can easily do so by finding hotspots and joining them. The connection method is advantageous to the hardware owners because every user’s connection to their hardware earns them HNT tokens. That explains why the internet providers are encouraged to utilize the hardware in highly trafficked joints.
The users are not forgotten either. They receive some rewards for joining and growing the network. The more the validators and hotspot providers, the larger the hotspot points and hence, the user base.
2. River (FLUX)
Flux is a Web 3.0 project offering developers the base for constructing a novel web version. Users of Flux can create Web 3.0 applications plus decentralized projects, then position them on networks. The operating system responsible for making this possible is FluxOS. It is decentralized and is designed for Flux users.
Flux provides its users and businesses FluxOS and its network’s cloud computing abilities so that they can provide decentralized apps. Flux Web 3.0 project receives considerable attention because of its reliance on a proof-of-work consent mechanism. It is outright that the proof-of-work method is continually vanishing in the world of blockchain, not to mention the fact that cryptocurrency mining has been scrutinized for its energy utility.
Users are allowed to break down Flux with a Computer Graphics Processor (CGP), where every two minutes, experience a generation of novel data blocks in the output network.
3. Filecoin (FIL)
Filecoin is likened to Web 3.0’s filing cabinet. It is a devolved storage network. It is a secure choice for consolidated cloud storage and an inactive means for minting money. Filecoin promises data safety of all files, including videos, images, texts, and private company data.
Filecoin network develops competitive tariffs by rewarding investors for providing storage capacities for users. It is not limited as any person can avail storage space to Filecoin users. The storage space providers can offer a network with unexploited hard drive space for keeping other people’s data. That way, sellers passively profit from the FIL. More storage space equates to more FILS earned.
4. Polkadot (DOT)
Polkadot brags about being the ninth highest cryptocurrency on CoinMarketCap. The Polkadot network utilizes Parachains to offer decentralized internet. Parachains are common with developers. Polkadots are characterized by Parachain auctions where developers have to win back their chains.
The only supported parachains in today’s market are 100, only accessible to developers. Polkadot is quite new in the market, with the first auction having been held in November 2021, where Acala won with an exceedingly $1.3 billion DOT.
5. Kusama (KSM)
Kusama is a diversion through Polkadot. It is only in existence as Polkadot’s experimental network. Polkadot uses it to identify bugs prior to its full announcement. Developers utilize Kusama to find solutions to any hitches their projects may have.
Like Polkadot, projects compete for a spot on the Kusama network via Parachain auctions. Kusama exploits a project that wins as a training base prior to shifting to Polkadot. Kusama consumers can typically utilize Kusama apps, and developers locate and fix bugs before progressing to Polkadot and gaining wider distribution. Kusama’s network is mature and sturdier than Polkadot’s, making it the best fit for short-term investments.
Having analyzed the five Web 3.0 projects, you can clearly pick the one that interests you as an investor. Also, focus on the one that gives more returns and is not so complicated to operate.