While Web 1.0 and Web 2.0 bolstered the growth in the internet world, Web 3.0 comes in bolder, focusing on decentralization by giving users the freedom to control their data.
November 21: The global crypto market capitalization reached $3 trillion in 2021 and has plenty of room for more growth. After the metaverse took the internet by storm, Web 3.0 emerged to be one of the new buzzwords in the crypto realm. While Web 1.0 and Web 2.0 bolstered the growth in the internet world, Web 3.0 comes in bolder, focusing on decentralization by giving users the freedom to control their data. But what exactly is Web 3.0?
What is Web 3.0 (Here Web3)?
Web 3.0 is one of the new buzzwords for its next significant evolution of the internet. Web 1.0 took place from 1990 to 2004, when most websites were static and created by businesses. During this phase, people who saw an opportunity bought domain names to sell later at higher prices to businesses in need of these domains.
Web 2.0 was the era of user-generated content and social media. Users are encouraged to interact and connect with one another through social networking like blogs, vlogs, and social media which eventually became mainstream. The evolution translates to a larger amount of content creation where most of the data is controlled by a smaller group of tech giants like Google, Microsoft, and Facebook. This also raised the question of whether the user’s privacy is safe.
As the web continues to evolve, Web 3.0 focuses on decentralization driven by the concept of peer-to-peer internet solutions where users are the one that controls how their data is used. Web 3.0 is anticipated to boost data transparency and content accessibility by relying on blockchain technology, especially since many applications and services are beginning to be powered by blockchain technology, metaverses, and artificial intelligence (AI). The use of this technology helps eradicate the use of a central authority for data storage and help preserve security through distributed consensus. Essentially Web 3.0 aims to put more control back into the hands of people, its users — instead of major companies.
How Interoperability Works for Web 3.0 and the Metaverse
Web 3.0 boasts that users’ interaction and scalability are essential to supporting user operations. For Web 3.0 to be truly functional, it needs to achieve three main features — decentralization, scalability, and security. The interoperability of Web 3.0 and Metaverse can be seen through the introduction of NFTs in which users interact with one another through virtual reality technology while Web 3.0 helps facilitate trade and communication.
Since Web 3.0 is a collection of apps on a decentralized platform, interoperability can be achieved through the interconnection of apps with the concept of the metaverse. For example, Decentraland Mana introduced an open connection for the global network of users to operate a shared virtual world by buying and selling digital real estate. To get started, users need to acquire LAND to define the ownership of their land representing their digital real estate. While the MANA is used to facilitate the purchase of LAND and goods in Decentraland. The marketplace enables participants to exchange LAND tokens and also facilitates the interactions between users to transact in-game items.
Ultimately, the decentralized internet is a key component of the metaverse because it’s less restrictive than centralized applications. With centralized applications, permissions need to be requested to enable interoperability.
Top Web 3.0 (WEB3) Tokens right now:
Trace Metaverse ($TRC) Token: Trace Geo metaverse is currently the best upcoming crypto game in the world. $TRC is the native token of Trace Metaverse, Trace is a geolocation-based metaverse with AR technology for smartphones. It is a virtual copy of the world's map, where your avatar moves according to your geolocation.
Trace will soon make its limited NFT sales, you may love to buy some rare NFTs so that you can be eligible to buy the token at their token pre-sale. You can join the Discord community, Twitter Page, or Telegram community of Trace Geometaverse to stay updated.
The main achievements of Trace Metaverse include:
A) Attracted $3,000,000 of investments and closed Seed and Private rounds
B) Gathered more than 100,000 members in our local community
C) Trace has developed our own geolocation platform for 4 years
D) Made an NFT Pre-sale and gathered $500,000
E) More than 1000 people have become NFT-holders, who will get access to alpha testing
F) Announced partnership with Bitmart crypto exchange and the most famous blockchain Polygon to build the game on.
Trace Metaverse has a clear future. Until the end of 2022, the $TRC token goes to crypto exchanges and the game goes to the App Store / Google Play, then new mechanics and new functions will be added to it. It would raise doubts about whether it would be possible to keep the development team and continue developing the application if Trace had not gathered a loyal community that bought NFT cars for half a million dollars and did not attract $3 million in investments. So the future of Trace is clear). We have no doubt that they will bring the plans to the end.
Flux: Flux is a scalable, decentralized cloud infrastructure (not to be confused with other companies of the same name). This cloud software offer products that compete with tech giants like Amazon Web Services with the perks of being decentralized. Developers using Flux can create, manage, host servers and launch Web 3.0 applications across multiple servers with competitive speeds. The Flux blockchain is used for governance, parallel assets, and economics.
VITA INU TOKEN ($VINU): Vita Inu ($VINU) is the governance token of the VINU ecosystem, and is native to the Vite DAG chain. Created in 2021, VINU is the world’s first fast, feeless (and cheeky) dog-themed meme coin with high TPS and smart contracts.
VINU’s philosophy is to have fun, make new friends, and learn all about the greatest technological revolution of our lifetimes – cryptocurrency – within an engaging, viral ecosystem. In conjunction with the Vite network, VINU seeks to play its part in building large DAG ecosystems where various cryptocurrencies may be moved around freely, securely, and efficiently. The VINU metaverse (the “Vinuverse”) is under development and will comprise a full VR World, the VinuSwap Dapp, NFTs, staking, rewards, events, merchandise, and much more. Holders of the VINU token will be able to move seamlessly – and enjoy various benefits – within the Vinuverse. It's currently the most emerging and most popular meme token in the market right now. You can buy VINU tokens at Bybit, the world’s best cryptocurrency exchange. It is also available in other cryptocurrency exchanges.
Theta: Theta is a video streaming platform that rewards users for sharing their extra bandwidth and computing resources. Steve Chen, the co-founder of YouTube, says Theta will disrupt the online video industry as YouTube did in 2005, albeit in a different way. Theta solves the problem of delivering video to certain parts of the world by reducing its costs. Quality isn’t sacrificed, either. Theta believes it’s important to provide high-quality streaming for everyone.
Users are rewarded with the Theta Fuel token (TFUEL) when they share their bandwidth and computing resources.
Social Good ($SG) Token: Social Good Foundation Inc.’s mission is to build the world’s largest global platform and to provide financial freedom to all people worldwide. The more they shop through the SocialGood App, the more assets users earn. There are over 2 million users from more than 200 countries and territories worldwide. The app has partnered with over 1,800+ major shopping websites, and users can earn SocialGood ($SG) cryptocurrency in proportion to how much they spend at these stores. Social Good Foundation Inc. has registered 68 patents in Japan, including their patented Crypto Back system.
The more you participate in the growth of the SocialGood Ecosystem™, the more benefits you will gain. Supportive members of the community are more likely to earn 100% Crypto Back rewards. You could also win $1,000 worth of SG just by sharing a screenshot of your $SG earnings with the hashtag #SocialGoodApp_CryptoBack on social media.
Audius: Music lovers will be interested in Audius. It’s a music streaming platform that aims to minimize the importance of signing with a record label. Musicians can publish their music and build a fan base on Audius. When performers stake AUDIO, they can unlock badges and artist tokens and receive voting power from their fans.
Heart Of Shades ($HOS): Every woman out there is probably bullish on Heart of Shades at this moment in the rally of the cosmetics industry joining Web3. India's first-ever luxury cosmetic brand "Heart Of Shades™ " is bringing Web3 and luxury together with prominent use of Web3, Crypto, and NFTs."The character of Heart Of Shades™ is all about knowing yourself. Someone whose presence changes the dynamics of any environment. No matter what ethnicity, no matter what color, what features they have, with Heart Of Shades aka HOS one transcends into a dame to kill for" said Niharika Dolui, The CEO and Co-Founder of the start-up who is among the evolving CEOs in India by Global Business Line. Launching in 2023, HOS (Heart Of Shades) is the only web3 luxury cosmetics start-up to fight with products like Charlotte Tilbury, Bobby Brown, and others. The vision of Heart Of Shades is really different from the affordable Indian beauty brands like Mamaearth, Sugar, etc. It is definitely on the list of top new crypto launching in India.
Siacoin: If you want to support the decentralized internet, SC is a Web 3.0 coin you’ll be interested in. Sia provides yet another option for data storage. This platform stores your data in the cloud over a decentralized network and allows you to control your private encryption keys. Sia is more affordable than other cloud storage providers, costing only about $1–$2 per month to store 1 TB of files.
Ocean Protocol: Because Ocean Protocol provides tools needed to build Web 3.0 applications, it’s a coin to check out when you’re looking to invest in this area. Ocean Protocol also decentralizes data sharing and access to the internet. The OCEAN token stakes buy and sell data, and governs community funding.
Kadena: This platform is designed for powering global financial systems. Kadena provides safer smart contracts, innovative energy efficiency, and PoS security. Unlike many other platforms that use more energy as network demand increases, Kadena continues using the same amount. Because it uses braided chains, it can process up to 480,000 transactions per second (TPS). As more chains are added, the protocol scales to higher processing powers. KDA is the token used to process transactions on Kadena’s blockchain.
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Last Updated Nov 21, 2022, 9:59 PM IST