At present, Blockchain technology is gaining heavy momentum and it is one of the most special areas wherein it is speculated to show progress is the internet. As Web 3.0 networks will operate through decentralized protocols — the founding blocks of blockchain and crypto technology — we can expect to see a strong convergence and symbiotic relationship between these three technologies and other fields. Web 3.0 cryptocurrencies are decentralized projects that use smart contracts and automate transactions over the internet. This article features the top Web 3.0 cryptocurrencies that will take over Bitcoin in the future.
Helium is a decentralized blockchain-powered network for IoT devices that utilizes a global network of low-energy wireless hotspots to broadcast data through radio waves to be recorded in the blockchain. The network uses a new algorithm, known as the proof-of-coverage consensus, to validate that the hotspots are providing legitimate wireless coverage.
LINK is a blockchain abstraction layer that enables universally connected smart contracts. Not only does it present the ideal combination of a project with the right technology behind it, but it also has enough resources for further development. The best part: Chainlink possesses an excellent community. It is one of the best Web 3.0 cryptocurrencies that will take over Bitcoin in the future.
Filecoin is like the filing cabinet for Web 3.0. It is a decentralized storage network that serves as a secure alternative to centralized cloud storage and a passive way of making money. Filecoin can be used to store almost any type of data, be it audio files, videos, still images, or text. It also claims to be secure enough to store more sensitive information like private company information and records.
Audius is a decentralized music streaming platform that aligns the interest of artists, fans, and node operators with its native token, AUDIO. The token can be used for governance, staking, and incentivizing artists' earnings. Audius also rewards its creators by featuring their music in the weekly trending lists. It is one of the best Web 3.0 cryptocurrencies that will take over Bitcoin in the future.
Flux aims to provide the groundwork for the developers to build out this new iteration of the web. With the help of Flux, users can develop Web 3.0 applications and decentralized projects and then deploy them across various networks. This becomes especially efficient with the help of FluxOS – a decentralized operating system made just for Flux users. It also offers blockchain-as-a-service (BaaS), which is very similar to SaaS.
Theta aims to be the next-generation entertainment and video platform whose blockchain is powered by its users. It aims to facilitate the delivery of decentralized video for users, with enterprise validator nodes from Sony, Google, Samsung, and other companies. It is one of the best Web 3.0 cryptocurrencies that will take over Bitcoin in the future.
ZCash is one of the first privacy-built cryptocurrencies, which was developed by a group of scientists from John Hopkins, MIT, and other eminent academic and scientific institutions. Interestingly, this privacy coin was originally built on the Bitcoin codebase with the only difference of being a privacy feature option.
Livepeer is a decentralized video streaming network built on the Ethereum blockchain. It is the secure and most cost-effective participation of the various actors in the streaming ecosystem. It mainly addresses two goals-distribution of real-time video and encouraging network participation. It is one of the best Web 3.0 cryptocurrencies that will take over Bitcoin in the future.
Kadena is a scalable PoW layer-one blockchain protocol that is stated to be capable of processing up to 4,80,000 transactions per second (TPS), thanks to the use of branded chains. Unlike the top PoW cryptocurrency Bitcoin, Kadena offers smart contract capabilities similar to those in Ethereum.
Investing in Kusama is like taking a detour via Polkadot and is set to carry out due to its proven records for the success of parachains. Just like DOT, developers compete to get a spot on the Kusama network through parachain auctions. Experts consider Kusama a profitable short-term investment as the network is older and stronger. It is one of the best Web 3.0 cryptocurrencies that will take over Bitcoin in the future.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.