You may have heard the term web 3.0 spoken a lot in the cryptocurrency, multiverse, non-fungible token (NFT), and decentralized finance (DeFi) communities during the last year. Web 3.0 is the internet’s next incarnation, with a focus on decentralization. Its goal is to provide a degree of openness in which smart contracts, rather than centralized organizations, govern user data and transactions.
However, automated transactions need the use of cryptocurrency. These Web 3.0 currencies and tokens are essentially decentralized initiatives that use decentralized applications to handle business electronically. In 2022, and here’s a list of top decentralized initiatives or Web 3.0 coins to watch.
Many individuals are already aware of the BitTorrent client, which is a cryptocurrency. It’s a file-sharing and hosting protocol that uses peer-to-peer technology. TRON network purchased it in 2018, and the BitTorrent Token (BTT) was launched on the Tron blockchain later that year.
The project’s goal is to develop a token-based economy in which token holders control resource networking and storage.
Basic Attention Token
The Basic Attention Token (BAT) is a cryptocurrency network that promises to use blockchain technology to bring safety, impartiality, and effectiveness in digital advertising. It is the Brave web browser’s native coin, developed on Ethereum (ETH). Advertisers, users, and publications will all be able to trade BAT fairly. BAT keeps track of how consumers engage with digital ad material and maintains the large amounts of data ledger. With a total quantity of 1.5 billion tokens, there are already over a billion in circulation.
Audius is a randomized music streaming network that uses its native currency, AUDIO, to match the interests of musicians, fans, and node operators. The coin may be used for administration, staking, and remunerating artists. Audius also recognizes and compensates its producers by including their music in weekly popular lists. The Audius project has formed a partnership with TikTok, a video-sharing platform, and hopes to integrate stable coins into the network in the future to enable sponsored content.
Helium is a modular blockchain platform that attempts to improve Internet of Things (IoT) gadget communication capabilities. The Helium main net enables low-power communication between devices and data transmission over its enormous network of nodes. Heliums based on aspects HNT is awarded to those that operate a node inside the network in helium. The network is based on a solid evidence consensus technique, which allows nodes on the network to agree while connection quality changes.
On the Ethereum blockchain, Livepeer is a randomized video streaming network. The open-source nature of the platform allows users and developers to engage in its administration and upkeep. The LPT is its native cryptocurrency, which holders may invest in the system to receive either ETH & LPT as incentives. Video workers on the network may also use their GPUs to encode videos and collect ETH and LPT as a reward.