The wave of Web3.0 strikes, five leading Web3 projects you have to know about
Over the past year, you may have come across the term Web 3.0 frequently in discussions related to the cryptocurrency, metaverse, non-fungible tokens (NFTs), and decentralized finance (DeFi) spaces.
Web 3.0 is the next generation of the internet, with a focus on decentralization. It aims to create a certain level of transparency, and smart contracts will control user data and transactions, rather than a centralized organization.
But automated transactions require cryptocurrencies. These tokens that will support Web 3.0 are basically decentralized projects that use smart contracts to automate transactions on the internet. Here is a list of the top Web 3.0 projects to watch in 2022.
Oracle Leader: Chainlink-LINK
Chainlink is an extensive decentralized oracle network whose token is LINK, providing this much-needed flow of information to smart contracts running on various blockchains. Its goal is to make smart contracts a more powerful tool, with each oracle network providing many oracle services independently, enabling them to take advantage of dynamic data inputs collected from external sources. Chainlink is not just an oracle network but an ecosystem that includes many parallel decentralized oracle networks, such as decentralized finance and money markets and decentralized stablecoins and algorithmic stablecoins and liquidity mining, etc. . As a leading project in the field of oracle machines, the Chainlink platform has reached cooperation with many star projects and data companies, and the number of trusted nodes in its platform exceeds 100.
Storage leader: Filecoin-FIL
Filecoin is like a filing cabinet for Web 3.0. It is a decentralized storage network that serves both as a secure alternative to centralized cloud storage and as a passive way to make money.
Filecoin wants users to know that storage can hold almost any type of data, whether it’s audio files, video, still images, or text. It also claims to be secure enough for more important data such as private company information and records.
On the investor side, they are rewarded for providing storage capacity. Anyone can provide storage for Filecoin users; this is how the network creates competitive tariffs. Providers can give the network unused hard drive space to store other people’s data. The seller then passively earns FIL. Of course, the more storage a user provides, the more FIL they get.
Anonymous Privacy Leader: Boxie-BXE
Boxie.Network is a trans-generational operating system that supports anonymous smart interactive contracts. Boxie attempts to create an operating system that is compatible with all areas of cryptocurrency functionality, and is an anonymous, privacy-safe, smart-contract-enabled operating system. Based on this, Boxie must be compatible with solidity language and EVM, and use zero-knowledge proof to protect privacy.
At present, we rarely see privacy-type projects in the web3 section. We have to admit that Internet privacy protection has become an increasingly important issue. Boxie has a unique vision to target this promising track. Combining organically with its Infog Protocol and adapting to the era of multi-chain development, I believe Boxie will give a satisfactory answer.
Wireless communication network leader: Helium-HNT
Helium’s native token focuses on a decentralized wireless communication network. Helium encourages miners to deploy hotspots through incentives to achieve wireless network coverage, providing a low-power, wide-coverage wireless network for IoT devices. Traditional IoT devices using cellular communication networks consume a lot of power and have high costs. Helium’s low power consumption has good advantages. More importantly, in this track, Helium does not seem to have an opponent yet, and the future value can be expected.
Search Engine Leader: The Graph-GRT
When it comes to the web3.0 ecosystem, we can’t help but mention the decentralized version of Google — The Graph. The Graph team, established in January 2019, raised a seed round of $2.5 million from Multicoin, Framework Ventures, and Parafi Capital. Financing is a decentralized indexing protocol built on Ethereum that provides an index so that users can obtain blockchain data through the index. Although the search speed is indeed not as fast as the general centralized database, The Graph can automatically crawl and update smart contracts, so there is no need to worry that the data will be old and unusable expired data.
The Graph mainly relies on four roles: Developer (developer), Indexer (node operator), Curator (marker, reviewer) and Delegator (agent, pledger) to ensure the smooth progress of the protocol. jobs and earn $GRT tokens as rewards for completing their respective tasks.