Web 3.0 : Definition and Top Watchlist Cryptocurrencies
The rise of Web 3.0 with decentralized governance of data and distributed computing powered by blockchain technologies is said to be the biggest invention since the Internet that will revolutionize not only data science and GIScience, but the whole society at large. Web 3.0 and the decentralized applications can dramatically increase our computation capabilities that will become valuable e.g. for handling and analyzing the ever-increasing amounts of real-time data from the IoT devices.
There are a few details that we need to keep in mind when looking into Web 3.0 tech. First of all, the concept isn’t new. Jeffrey Zeldman, one of the early developers of Web 1.0 and 2.0 applications, had written a blog post putting his support behind Web 3.0 back in 2006. But talks around this topic had begun as early as 2001.
Evolution of the Web 3.0 technology
Web 1.0 was a platform through which information could be published in a static form designed with text and images. It portrayed an environment where information and data were static, and displayed with no interaction between the information and the consumer. Content could be viewed, but not created by users. The protocols associated with this generation were Hypertext Transfer Protocol (HTTP) and Hypertext Markup Language (HTML). The HTTP protocol transfers information between a Web server and a Web browser. HTML protocol communicates with the browser, and informs it how to display whatever text, graphics and images transferred by the HTTP protocol.
The main difference between Web 1.0 and Web 2.0 is not only the underlying infrastructure of the Web, but rather the ability of consumers to create, share and interact with content on the Web. New technological aids made it possible for consumers to create and share content.It is the greater collaboration between consumers, programmers, service providers and organisations, which enables them to re-use content. Web 2.0’s applications have the ability to harness collective intelligence, and in doing so combine and integrate Web content and services to improve the end user`s experience. This sharing was facilitated by online software with the ability to deliver rich interfaces operable on any device or platform without the need of additional software installation.
Web 3.0 is not represented by the emergence of a new Web but rather an extension of the technologies already present in Web 2.0. Internet content is becoming more diverse, and the volume of data becoming more openly available. The Web is becoming a platform for linking data, and by making connection between similar data characteristics, the data itself becomes more valuable. Computers still cannot automate the function of harvesting this data, or of performing complex tasks with it.
The need for data structuring and integration is important to enable the Web to evolve into its next phase. As with previous versions of the Web, consensus on the definition for Web 3.0 varies,and names include, amongst others: Web 3.0; Semantic Web; Transcendent Web and Web of Things (henceforth collectively referred to as Web 3.0). Even though the names differ, all these phrases have the same basic fundamentals
Website 3.0 and Blockchain Technology
The rise of technologies such as distributed ledgers and storage on blockchain will allow for data decentralization and create a transparent and secure environment, overtaking Web 2.0’s centralization, surveillance and exploitative advertising. Decentralized infrastructure and application platforms will displace centralized tech giants, and individuals will be able to rightfully own their data.
Indeed, one of the most significant implications of decentralization and blockchain technology is in the area of data ownership and compensation. As we move toward Web 3.0 and the technologies that support it mature and become scalable, I believe the web will reflect its original intent.
The chronic interruptions that have become the norm in Web 2.0 will disappear as decentralization also makes possible transparent, opt-in, peer-to-peer communications that allow individuals to take ownership of their precious time.
In sum, Web 3.0 will bring us a fairer internet by enabling the individual to be a sovereign. True sovereignty implies owning and being able to control who profits from one’s time and information. Web 3.0’s decentralized blockchain protocol will enable individuals to connect to an internet where they can own and be properly compensated for their time and data, eclipsing an exploitative and unjust web, where giant, centralized repositories are the only ones that own and profit from it.
Top 5 cryptocurrencies that are ahead for the Web 3.0
Web 3.0 strives for transparency, and the users will see endless resources, content, and agreements that will be accessible to all. Web 3.0 tokens are decentralized projects that will use smart contracts and automate transactions over the internet. So, here is a list of the top Web 3.0 cryptocurrencies that are aiming to develop the new tech and should be bought.
OCEAN is another crypto that offers all the tools needed to build a Web 3.0 solution. The token makes one of the best investments for those looking to invest in a Web 3.0 token with much potential. The protocol has developed several tools needed to develop Web 3.0 applications. The protocol also focuses on decentralizing the concept of data sharing on the internet, which offers access and transparency when handling data.
Looking on the 3 days time frame, the price has already broken below the support trend line which has been maintaining the bullish structure for quite some times. A possible price discovery to the blue region around $0.6115 could be met in near future and this could be a perfect area to start your DCA strategy. ATH is at $1.94 based on the Binance’s rate and if there is more highlight about the web 3.0 project, the ATH can be easily broken.
BitTorrent is the first torrent tracker and the most potent peer-to-peer network in the world. Large files are divided into fragments and transmitted over the web in a fragmented form, merging into one whole on the recipient’s computer. Everyone who downloads the file from the network automatically becomes a part of the distribution.
Another coins that has dropped massively for almost 80% since its ATH is BTT. The price has now broken down below the support trend line and has been thrown over. Will this be a good coins to collect for speculating the web 3.0 hype? All I know is that the safe buy area is around $0.000735 because looking at current bitcoin’s condition, it’s still very logical that the price will eventually reaches this area.
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.
Another coins that has broken down below its bullish structure is Filecoin. There is likely potential downside discovery for the end of this 2021 and the Q1 of 2022. But it’s actually a good time to collect some and start the DCA strategy on this coin (just like what our team do). Safe buy at $20.
Polkadot is one of the most popular cryptocurrencies in the global market, but investors might not know that it is actually a Web 3.0 project. The network is known for seeking scalability and compared to Ether, it ranks higher when it comes to charging low fees and offering fast speeds. Because of its top-ranking position and gradual rose in market value, DOT can stand as the market leader, and head the decentralized internet sector.
It’s no doubt that this coin is a very good coin with a good project, fundamental and solid team. I always admire this coin to be one of the most serious competitor of Ethereum. For current structure, the possible of testing the $18 support is on the card as the result of potential bearish continuation on Bitcoin. However, it’s always be a good decision to put some of your holding into Polkadot.
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.
If you want the coins that answer current’s world problem of energy consumption, the answer is Helium. Utilizing the radio waves to meet the criteria of low cost energy is absolutely impressive. It’s also represented on the chart where we can see the price is still holding the bullish structure of higher high and higher low combination. The support below is $25 and $16 but I’m pretty sure to start the DCA strategy now is a good decision.
This is not the financial advice and this article is based on personal perspective only. So, do your own analysis for your own decision.
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