Web 3.0 Cryptocurrencies

Web 3.0 is briefly defined as a communication system that aims to de-centralize the Internet and turn it into a decentralized Internet. To decentralize the Internet, the primary weapon will be the blockchain and the protocols that depend on it, most if not all of which have cryptocurrencies supporting themselves.

Each cryptocurrency or protocol has a specific goal in the network, but not all of them aim to free the Internet from the constraints of its centralization, but only some, and they are called Web 3.0 cryptocurrencies.

This article, and the following lines, will suggest to you a list of the most used cryptocurrencies in Web 3.0, stating their purpose and the role they will play in this digital transformation that we will soon witness.

1. Cryptocurrency Bitcoin

In a decentralized web 3.0 system, we will need a digital payment method, without the need for third party services such as banks (physical or digital such as PayPal). The best alternative currently in use in Web 2.0 and able to grow even better in Web 3.0 is the cryptocurrency Bitcoin.

Bitcoin is mainly used as an alternative method for digital payment services, and it has succeeded in achieving very positive results, despite the great challenges and obstacles that have always pursued Bitcoin, whether from banks, the International Monetary Fund, and similar systems.

We cannot say that Bitcoin is alone in this path, there are other currencies that will be used as a means of payment, the most important of which is Ethereum, which is progressing frighteningly every day that makes us look forward to the final results that this cryptocurrency can achieve.

2. Chainlink Cryptocurrency

In terms of cryptocurrency, market cap and ranking, Chainlink may not be that strong, nor competitive with other similar currencies. However, in terms of the services offered by Chainlink, it will be an integral part of Web 3.0.

Data today is the fuel for companies and services like Google and Facebook, which in Web 3.0 will always seek to transform their decentralized services to be primarily data collection services. Here the Chainlink protocol will intervene to secure and encrypt information and data while it is being used in the blockchain network.

The name Chainlink is closely related to the Blockchain phrase, which can always accompany it to verify all data, transactions and all types of data in the network securely. Think of it like a cop, which guarantees data protection in Web 3.0.

3. Cryptocurrency THETA Network

Visual content, video and also live broadcasts are popular at the moment, consider platforms such as Twitch or YouTube Live, Facebook Live and Instagram Live, and then ask the question: Can it be ported to become available on Web 3.0?

TETHA Network answers this question, telling you that if you want to build a live streaming or video content service based on a decentralized and blockchain network, feel free to use its protocol. Theta protocol helps you to embed live streaming decently, without the need for any third-party services.

The network will secure your connection, make it secure, confidential and difficult to track. Everyone will be able to create live broadcasts or create visual content in Web 3.0 via this protocol and its services.

4. Cryptocurrency Filecoin

Filecoin

You’ve heard of it a lot, haven’t you? You may know it in the form of cryptocurrency, but did you know that it offers one of the most important services ever in the blockchain network? Namely, file storage and management. Perhaps this is clear from its name, File Coin, which stands for files.

To build a project that relies on storing or sharing files over a blockchain network in Web 3.0, the best protocol and system you can currently adopt is Filecoin.

Filecoin is currently not very popular with users because its use is limited. But in a network where it may be important to share and store files among a mass of users, its presence may be essential.

5. Cryptocurrency Mask Network

Mask

Social media platforms are a real revolution, as the services of YouTube, Twitter, Facebook, Tik Tok, WhatsApp, Instagram and more have radically changed the digital world. It removed previously interesting services, such as forums and chat programs. Do you think that Web 3.0 will do the same for social networking sites and displace them in turn?

Whether the answer is yes or no, Mask Network comes to provide us with encryption for social networking services in Web 3.0. If, for example, Twitter decides to make its services available in Web 3.0 and you still worry about it spying on your messages, Mask Network will keep you safe.

The protocol aims to make your messages on social media platforms encrypted, by adopting the same mechanism of sending and receiving money in decentralized services.

6. Cryptocurrency Keep Network

KEEP

Just as Filecoin, whose protocol allows files and data to be stored on the blockchain, the Keep Network is its rival, and it is its number one competitor. The KEEP token cryptocurrency Keep Network project aims to securely store data and content on the blockchain.

Researchers (users or entities) can access that information on demand, but without any kind of spying or analyzing that data. The Keep Network project can be used to create decentralized services for uploading files or data in Web 3.0