What is Web 3.0

Web 3.0 is the third “generation” of the Internet. Blockchain technology will play a major role in this innovation. The founder of the World Wide Web, Tim Berners-Lee, called Web 3.0 the Semantic Web. It should become an independent, intelligent and open version of the Internet.

Data in the new generation of the Internet must be interconnected in a decentralized way. Therefore, Web 3.0 will be based on the close relationship between blockchain and cryptocurrencies. Web 3.0 aims to increase its usefulness for ordinary people and online services. Web 3.0 will be able to form the basis for the metaverses and many other blockchain projects. At the moment, Web 3.0 is still in development.

Predecessors of Web 3.0:

Web 1.0 – The first version of the Internet, developed back in the 1970s. It was a centralized repository of sites with data that was developed by certain people – resource owners and webmasters.

In 2003, the Web began the transition to higher quality and advanced level – Web 2.0. Its main advantage over Web 1.0 is social networking. They allowed ordinary web users to post their content. The dominant role is played by centralized services controlled by corporations. They have the authority to censor user content, as well as store information in their own databases.

Web 3.0 and Cryptocurrency

Web 3.0 will be decentralized, which means that it will use decentralized networks. These are the same networks on which blockchain and cryptocurrencies are developed.

There are already early stages of blockchain applications. These apps work great. Tokens associated with Web 3.0 applications on the blockchain are a pleasant surprise, they can be compared with bitcoins and altcoins.

In August 2021, Web 3.0 tokens increased in price by 244% on average over the year. Compared to NFT, which grew by, 2726% over the same period, this is not so much. But, when compared with the growth of Bitcoin, which has a +37% rate, this is impressive. Bitcoin has become relatively stable and is a great asset for investors, that’s a fact. But such indicators suggest that Web 3.0 could become a new frontier for speculative crypto traders.

Analysts at Grayscale Investments believe that the annual revenue of the Web 3.0 metaverse could reach $1 trillion in the near future. Experts David Grider and Matt Maximo noted that metaverse platforms integrated with virtual assets, Defi services, NFT, decentralized governance, and cloud storage have created “new online opportunities” that cannot leave users indifferent.

Top 10 Popular Web 3.0 Digital Coins

  1. Chainlink – LINK
  2. Filecoin – FIL
  4. Helium – HNT
  5. The Graph – GRT
  6. BitTorrent – BTT
  7. Basic Attention Token – BAT
  8. Arweave – AR
  9. Siacoin – SC
  10. Livepeer – LPT

Coins like Helium (HNT), BitTorrent (BTT), and Livepeer (LPT) have surged at least 800% in just a few months. Nick Mancini, an analyst at Trade The Chain, said the exponential growth of the Web 3.0 ecosystem and how it has managed to maintain most of its profits despite market downturns is staggering. Experts believe that this is beneficial for the cryptocurrency market as a whole.

How to purchase Web 3.0 tokens

You can make a fiat deposit to the exchange using a bank card or e-wallet. Be sure to check which fiat channels are available for a particular currency. To expand the range of possible tokens for trading, you can convert fiat to stablecoins, alternatively BUSD or USDT. Also, it is possible to buy directly from the card to buy the Web 3.0 tokens you are interested in.

To use the purchased cryptocurrency in decentralized applications, you need to transfer Web 3.0 tokens from the Binance exchange address to your own offline wallet, such as Metamask.

A new type of Internet Web 3.0 is designed for decentralized autonomous interaction between systems, users, and home devices. To date, all the trends in the blockchain sector revolve around Web 3.0 tokens, which have skyrocketed in value. Although they are not yet in widespread use, rising costs and their applications are driving demand. Thanks to modern technologies, primarily blockchain, it will be possible to trade assets, including cryptocurrency, in Web 3.0 without intermediaries.

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