5 Web 3.0 Cryptos to Buy for the Future of the Internet

The internet is moving to the blockchain, there’s no doubt about it. Investors have seen the impact of putting the power of decentralized currency in the hands of the people; many have seen massive gains from staking their assets in DeFi protocols, and nations have been racing just to catch up and get their clutches on this runaway asset class. As that continues to grow, there’s another area of interest growing in parallel to DeFi called Web 3.0. Web 3.0 seeks to do the same thing for the internet that DeFi does for banking. If DeFi’s success is any indicator, Web 3.0 will be a massive force. As such, investors are seeking out Web 3.0 cryptos to help get ahead of the revolution.

As its name implies, Web 3.0 is the third iteration of the internet. Web 1.0 took shape as the earliest version of the internet. Web 2.0 took hold thanks to companies like Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN), which made the internet a more closely connected experience. Now, Web 3.0 is a response to the tech giant takeover. As Meta Platforms (NASDAQ:FB) and other tech companies prove that they are not always taking actions for the greater good, Web 3.0 will take back power from these corporations.

The Web 3.0 revolution will take place over the next few years thanks in large part to blockchain. On the blockchain, decentralization is much more plausible. Applications can run on tools like smart contracts, which automate transactions of assets and data, and developers can easily take a backseat to the greater desires of the community thanks to Decentralized Autonomous Organizations (DAOs). If you want to invest in the Web 3.0 era, consider these cryptos:

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• Helium (CCC:HNT-USD)
• Flux (CCC:FLUX-USD)
• Filecoin (CCC:FIL-USD)
• Polkadot (CCC:DOT-USD)
• Kusama (CCC:KSM-USD)

Web 3.0 Cryptos to Buy: Helium (HNT-USD)

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The first step to decentralizing the internet is to first decentralize access to the internet. Given the scope of data and connectivity the internet provides, many believe access to internet to be a basic human right not unlike healthcare or shelter. The Helium network is one of the most popular Web 3.0 cryptos. And, it’s leading the charge toward putting the internet into the hands of every human being.

What Helium offers is a web service built to compete with that of ISP giants like Verizon (NYSE:VZ) and AT&T (NYSE:T). It uses blockchain alongside physical hotspots to allow users access to wireless internet all over the world. Users can buy the hotspot hardware to keep in, say, an apartment. When another Helium user outside of the apartment building wants to connect to wireless internet, they can seek out and connect with the hotspots.

This method of connection is great for the hardware owners. When somebody connects to one’s hotspot, that user earns HNT coins. Thus, coverage providers are incentivized to deploy hardware in high-traffic areas. Moreover, the end users are rewarded more by participating in the network and growing it in popularity; as more validators and hotspot providers crop up, seeing a lucrative opportunity in HNT, the end-users have more hotspots through which to connect.

Helium continues to bulk out its innovative offerings by keeping up to date with what large, centralized ISPs provide. Recently, the network deployed a fleet of 5G-compatible hotspots to provide the highest-speed connections possible.

Flux (FLUX-USD) Provides Developers With a Framework For Web 3.0 Application-Building

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While Helium is providing basic access to the internet with its product offering, Flux offers the groundwork for the developers who build out this new iteration of the web. Think of Flux as a Web 3.0 development sandbox. Users can develop Web 3.0 applications and decentralized projects, and then they can deploy them across networks. This is made possible through FluxOS, a decentralized operating system made for Flux users.

Flux offers blockchain as a service (BaaS), something not unlike software as a service (SaaS). It invites users and companies alike to utilize FluxOS and the network’s cloud-computing capabilities to deploy decentralized applications. The network lists several use cases for its services; it notes things like server hosting to others like oracles, which aggregate data from around the blockchain web. It is described as a Web 3.0 version of what Amazon Web Services offers.

The Flux network is noteworthy because it utilizes a proof-of-work consensus mechanism. Of course, proof-of-work is becoming more and more rare in the blockchain world. Crypto mining has come under scrutiny for being energy consumptive, but it is also a chance for users to reap the rewards of having compatible hardware to mint new coins. Users can mine FLUX using their computers’ graphics processing units (GPUs), with new data blocks being created every two minutes on the flux network.

This becomes especially lucrative when considering just how much FLUX prices are booming. The network is continually beefing up its product offering, most recently deploying 30 dapps to the network at one time. At its all-time high of $2.89, the coin was posting a 14,000-plus percent gain on the year.

Web 3.0 Cryptos to Buy: Filecoin (FIL-USD)

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Filecoin is, like its name alludes to, the filing cabinet for Web 3.0. The Filecoin network is a decentralized storage network that is built to be both a safe alternative to centralized cloud storage plays and a way to passively earn money.

Filecoin wants its users to be aware that its storage is for anything and everything. As its site points out, one can store virtually any type of data, be it an audio file, a video, static imagery or text. It also claims to be secure enough for the more important data, like private company information and datasets. Of course, being on the blockchain, the network has the assistance of cryptographic proofing in keeping files secure. It also promises to provide these services at the most competitive prices; the network claims to have achieved “economies of scale,” which allow most anybody to afford the services for whatever they need.

Maybe more interesting from a crypto investor standpoint is its rewards for storage providing. See, anybody can provide storage space for a Filecoin user; this is how the network affords its competitive pricing. Providers can supply the network with unused space on hard drives to host others’ data. In doing this, the providers passively earn FIL coins. Of course, the more storage provided by a user, the more FIL they earn.

Data retrieval is easy, because the network uses geographical data to pair users and providers. When somebody stores their data, the network seeks a nearby provider in order to make the data as quickly accessible as possible. This also translates to rewards for providers; the faster one can retrieve the data and send it back to the storer, the more FIL earned. This all adds up to make Filecoin a worthy decentralized competitor to massive data storage operators like Amazon Web Services.

Polkadot (DOT-USD) Leads the Pack as the Largest Web 3.0 Play

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Even if you’re unfamiliar with Web 3.0, there’s a high chance that you’ve heard of the Polkadot network. At over $42 billion in market capitalization, DOT is the ninth-largest cryptocurrency in the world. It’s also the network that stands to lead the charge into the Web 3.0 era, thanks to its rigorous effort to usher in a fully decentralized internet through parachains.

Parachains are unique to the Polkadot ecosystem, and they present a highly scalable and appealing way to weave together applications. Rather than hosting all of its projects on one blockchain, Polkadot gives each project its own chain that runs parallel to the rest. Developers have more freedom, more room for experimentation and more support through these parachains. As such, they are quite the hot item.

In fact, Polkadot’s parachains are so sought after by developers, the network doesn’t need to try at all to attract new apps. On the contrary, the developers fight tooth-and-nail for their own chain through parachain auctions. As of right now, there are only 100 parachains that the network supports, and it is only just now opening up to developers. The first parachain auctions began early in November, pitting 10 total projects against one another to crowdfund the highest amount of DOT. The end of the auctions is decided at a completely random moment by the blockchain; after the first auction, Acala was the lucky winner. It raised over $1.3 billion in DOT to win the chain.

In addition to these chains, Polkadot is a sought after Web 3.0 play because it takes care of its projects. The network has nearly $1 billion in assets through which to help fund development of its projects. In true Web 3.0 fashion, the manner in which these loans will be disbursed is entirely at the will of the community.

Web 3.0 Cryptos to Buy: Kusama (KSM-USD)

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Investing in Kusama is a roundabout way of investing in Polkadot. That’s because Kusama only exists as a companion of the Polkadot network. It’s what the developers call a “canary chain,” taking its name from the famous allusion of the canary in the coal mine. Think of it as the picks and shovels that go into Web 3.0 development.

Before anything got auctioned off by the Polkadot network, Kusama was already up and running with multiple projects. That’s because the network is the barometer of success of parachains; it’s a sort of test drive for applications before they jump in and buy the car. Developers use Kusama to work out the kinks with their projects; Kusama exists for Polkadot to work out its own kinks ahead of its full rollout.

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Just like Polkadot, projects vie for one of Kusama’s 100 parachains. Once a project gains its own chain, it gets to use Kusama as a training ground before moving up to Polkadot. Users can utilize Kusama apps normally, and developers can seek out any bugs or inconsistencies and fix them before hopefully moving up to Polkadot and its broader exposure.

Kusama might be the better short-term bet between the two plays, since its network is long-running and more robust. However, Polkadot is sure to catch up as it continues with its auctions, and it continues to reel in billions in crowdfunding. But regardless of which coin one turns to, be it DOT or KSM, the nature of the two chains essentially means you’re investing in the success of both.