Cryptocurrencies have become a popular investment option, as well as the means of payment for purchases in the metaverse. There are numerous cryptocurrencies on the market, with new options rising each year. In this article, we’ll be looking at the top currencies aligned with the developments in Web 3.0 that you should keep an eye on.
Let’s Talk About Web 3.0 and Cryptocurrencies
Web 3.0 is the next generation of the internet, and it is expected to take investing and cryptocurrencies up a notch. It is expected to follow decentralized models and utilize blockchain technology. The network is more efficient and grants the user more control over the process of investing. You’ll notice the term DeFi being used often, which refers to decentralized finance. These currencies are often used to purchase NFTs, which are digital assets that are traded online.
We’ve seen top execs from tech companies moving over to blockchain companies in an effort to create and expand upon Web 3.0 developments. It is a diverse space with numerous projects underway. It is important to monitor cryptocurrencies and treat them as you would other investments, as even the strongest players have experienced double-digit losses year-to-date. That said, cryptocurrencies are known to be highly volatile and on the higher side of the risk spectrum.
Cryptocurrencies are not only related to financing but instead offer ways for internet-native organizations to create and share value. Web 3.0 investments are judged based on their fundamentals, the coin’s performance in terms of price, the overall market, and the news and trends pertaining to it. These decentralized currencies present a transparent model that is framing the future, with projects that utilize smart contracts to automate transactions online.
Top 8 Cryptocurrencies to Watch
Let’s dive into the top cryptocurrencies to keep an eye on as we steadily head into the world of web 3.0, where securing corporate crypto assets will be an important endevor for businesses.
Ethereum is no stranger to the world of crypto and remains one of the most popular currencies for Web 3.0. It is a layer one platform upon which decentralized applications are built. It can be traded in the metaverse that also runs smart contracts, making it a solid long-term investment.
Since smart contracts are going to be used more and more in the future, Cardano has made its way to the list. It is a smart contract platform that offers scalability for complex applications.
Helium is a decentralized and open-source cryptocurrency, operating on a network secured by nodes that run the software and provide security. It offers a unique way to transact and store crypto. Helium is one of the top web 3.0 cryptocurrency projects by market capitalization.
For a private cryptocurrency, look into Zcash. It offers selective transparency of transactions, using advanced cryptography to ensure that all the information relating to user transactions remains private and transactions that can either be public or private.
Polkadot is a cryptocurrency that has been designed as a permission system, meaning it can only be used by those who have been authorized by the developers. Due to this, Polkadot is highly secure and scalable and can handle multiple transactions, compared to other cryptocurrencies that can only handle a few per second. Polkadot was founded by the Ethereum co-founder, Gavin Wood. The native coin is called DOT and is often used to participate in slot auctions.
OCEAN cryptocurrency is based on the Ethereum blockchain and provides a decentralized platform for the exchange of digital assets. As such, it is designed to be secure and user-friendly, allowing users to buy, sell, and trade digital assets with ease in a safe and secure environment.
ChainLink is a network of decentralized oracles that enable data transmission to smart contracts. Since its start in 2017, ChainLink has become an established market leader that contributes to the functionality of Web 3.0. It enables users to provide data to and from blockchains with accuracy. The native token, LINK, is used to pay Chainlink node operators for retrieving data for smart contracts, formatting data into blockchain formats, off-chain computation, and uptime guarantees.
Filecoin is an open-source cloud storage marketplace, powered by storage providers and developers. It provides projects and organizations with cost-effective, secure data solutions that are decentralized. It can store all kinds of data and NFTs. Filecoin’s native coin, FIL, is used to pay storage providers to store and retrieve data.
Your Business's Outlook in Web 3.0
The list above presents an overview of the top web 3.0 cryptocurrencies to watch. As you can see, there is a wide range of exciting projects and options available to people and businesses alike. Speak with Nexa about all things we 3.0. We’ll provide you with the marketing know-how you need to carry your business into the future.
As with all investments, it is wise to watch out for market trends. When it comes to cryptocurrency, you can get trading insight from Coin Market Cap. Note that the information in this writeup relates to information about cryptocurrencies, and is not intended to provide financial advice.