Web3 is a new form of internet formed for the NFTs, cryptocurrency, metaverse, etc. It was termed by Ethereum’s co-founder Gavin Wood and was regarded as the next phase internet.
It is the integration of blockchain technology and the internet to let you assemble NFTs and cryptocurrency in the platform you use.
It is a decentralized system where every user owns this type of internet. It disregards e-feudalism in which some brands or companies are on the internet.
Below are the some best Web3 projects:
Best Web3 Projects
1. Chainlink (Link)
Chainlink is a platform that acts as a link between non-blockchain enterprises and blockchain platforms. It is actually a cryptocurrency and technology platform.
It is also known as a decentralized oracle network or blockchain abstraction layer.
It operates blockchain technology to enable all types of computational processes on and off blockchains and supports hybrid contracts.
2. Filecoin (FIL)
Filecoin is a network that stores files and its built-in economic incentives make sure that these files are stored securely and reliably over time.
The users have to pay to enable Filecoin to store their files.
Their computers which store these files perfectly are called storage providers. It invites open markets to store and receive files. Moreover, it incorporates blockchain and cryptocurrency (FIL), and these FIL are the units for storing files.
3. Theta Network (Theta)
Theta network encourages a network of computers to handle a decentralized video streaming platform. It has Theta token as its cryptocurrency.
It allows developers to develop and build decentralized applications on the platform.
It is a next-generation entertainment technology that provides a decentralized video streaming platform and is affordable.
4. Helium (HNT)
It is a type of peer-to-peer decentralized blockchain network that revolves around the internet of things (IoT) devices.
It also tends to encourage the development of open-source and decentralized wireless networks.
It promotes and helps the devices connect to the internet wirelessly anywhere globally, and that also at an affordable price. Its aim and objective are to revolutionize IoT communication for the future.
4. Bittorent (BTT)
It is a decentralized network that tokenizes file-sharing protocol and enhances the bandwidth quality with the help of blockchain.
It uses cryptocurrency to become a bridge between content creators and their audience.
The invention and use of the BTT token attempt to bring blockchain closer to mainstream technology.
It enhances faster downloads and enables the content creators and their audience to work together.
5. Arweave (AR)
Arweave uses a decentralized system to store files permanently across a network of computers. It uses cryptocurrencies to let users buy and sell storage services.
It aims to replace the already prevalent giants like Amazon, Microsoft, Google, etc. It stores data using its unique incentives revolving around AR cryptocurrency at an affordable price.
6. Sia Skynet (SC)
It is a decentralized blockchain network that can store information of any kind. You can use it without having to download a Sia wallet.
It also lets one earn rewards in the form of Sia coins (SC). Its priority is the decentralization of storage data.
7. Storj (STORJ)
It is a crypto-powered storage platform and allows the computer to rent unused storage space. It can act as a decentralized alternative cloud storage platform like those provided by Google and others.
It has got STORJ cryptocurrency that allows users to pay others who want to store their files on the network.
8. Ocean Protocol (OCEAN)
It is a decentralized open-source protocol that enables the users to exchange and monetize data and services related to the same. It uses data tokens to let the users access the data sets.
It tries to enhance data exchange by bridging the gap between users who have storage and those who don’t. Its cryptocurrency is called OCEAN tokens which allow the users to buy and sell data.
There are many more examples of web3 projects that cater to different functions and needs.
The aim behind these web3 projects is to create a new high-tech world that is decentralized and supports blockchain networks and revolves around cryptocurrency.
Web 3 projects aim toward a future where the user has complete control over any market or website on the internet.
It is a type of a communist belief that tends to put much focus on the user having all the powers. Therefore, it will create a user-friendly, efficient internet owned by the users.