Betting big on Web 3.0? Here are three cryptocurrencies to watch
Analysts agree that Web 3.0 will transform the web as we know it. It is a transformation likely to be as revolutionary as Web 1.0, which completely changed how people interact and do business for good. With the prospects for growth in this market, it is an excellent time to start shopping for high-potential Web 3.0 cryptocurrencies to invest in, now that prices are still at record lows.
Polkadot (DOT) is one of the best Web 3.0 cryptocurrencies today for its scaling capabilities. Polkadot can scale thanks to its use of sidechains called parachains. Polkadot also prides itself in interoperability in that Dapps can seamlessly send data from Polkadot to other chains.
It is these capabilities that are driving the adoption of the Polkadot blockchain. The latest wave of adoptions comes from the Web 3 Foundation, which has approved 400 projects that will build on Polkadot. Web 3 Foundation noted that the nature of the projects that have received approval ranges from those creating the entire Web 3.0 stack to those building Dapps for everyday use.
With such growing demand for Polkadot in the Web 3.0 space, the odds are that DOT’s value will also increase. That’s because you need DOT tokens to transact in the Polkadot ecosystem.
Filecoin (FIL) is one of the top Web 3.0 cryptocurrencies looking to decentralize data storage. In the past week, Filecoin has been one of the best-performing cryptocurrencies, rallying by over 80%.
The rally was triggered by news that the Filecoin Foundation for the Decentralized Web had partnered with Harvard’s Library Innovation Lab. The working relationship is geared towards helping libraries use technology to spread knowledge. This is a big deal as it anchors Filecoin as one of the cryptocurrencies that could lead the way in pushing academia and the book publishing market into Web 3.0.
Given that Filecoin is also growing in adoption in other markets, there is no doubt that Filecoin has a promising future in Web 3.0. It’s a cryptocurrency worth keeping an eye on now that prices are still pretty low.
Theta Network (THETA)
The video streaming market is ripe for disruption by blockchain technology. As currently structured, censorship has become a significant issue affecting content creators and consumers. Web 3.0 can take away the middleman and solve this problem.
One of the cryptocurrencies leading the way on this front is Theta Network (THETA). Theta aims to decentralize video streaming and has gained traction over the past year.
Besides growing adoption, the Theta team is working hard to ensure that the Theta blockchain works as it should. For instance, they recently released Theta Metachain. This aims to give Web 3.0 businesses an edge over their more traditional competitors.
With all these factors at play, there is no doubt that Theta is one of the best Web 3.0 cryptocurrencies to buy in 2022.