10 Best Web 3.0 Cryptocurrencies To Buy for 2022

Since Web 3.0 is meant to operate via decentralized protocols, which are the foundation blocks of cryptocurrency technology and blockchain, there will be a growing relationship between these three technologies.

Read: 5 Things You Must Do When Your Savings Reach $50,000

What Is Web 3.0?

Web 3.0 is the latest iteration of the World Wide Web. Although the transition from Web 2.0 is far from complete, companies, and even some governments, are already shifting services to the blockchain networks on which Web 3.0 is based.

Web 1.0

The web has undergone significant shifts since its first iteration, developed in 1989 to create a global library of hyperlinked documents. This first-generation web was “read-only” — users could read static documents and follow the hyperlinks from one document to another — whether within a particular website or across multiple websites — and later, purchase products from online stores. But there wasn’t a way to interact with the information.

Web 2.0

Web 2.0, which began in 2006 and is the phase we’re currently in, changed that. First defined in 2004 as a “read-write” web, as described in the International Journal of Computer Science and Information Technologies, Web 2.0 ushered in the social web, with dynamic content and the ability for users to interact, collaborate and generate their own content. Special interest groups, for example, which allowed users with common interests to communicate on message boards, gave rise to blogs, podcasts, wikis, RSS feeds and ultimately, social behemoths like Facebook, YouTube and Twitter.

Web 2.0, like Web 1.0 before it, operates according to a permission-based paradigm. The content is controlled by mega-corporations that can restrict access to it. In exchange for interacting with the content, users provide corporations with access to vast amounts of personal data gleaned through the use of cookies and other technologies.

Web 3.0

Web 3.0 is a “read-write-execute” or “read-write-own” web and is structured more like a database than a library. It’s based on public blockchains, which are networks distributed across thousands of computers. Blockchains work like ledgers to track, verify and secure transactions. They’re decentralized, which means they aren’t controlled by a particular entity. Anyone can use them to build or use apps — called decentralized apps, or DApps. No permission required.

Because the apps are also decentralized and permissionless, content can’t be censored, transactions can’t be blocked and no personal information is divulged. This democratization of data takes it out of the control of corporations and puts it in the hands of the users.

Web 3.0 cryptocurrencies are decentralized currencies that exist on a blockchain and make it possible for their blockchain to function. For example, ether, the currency for the Ethereum blockchain, is used as payment for transactions executed on the blockchain, whether they be purchases, games fees or other activities — things a user might do on Web 2.0. The difference is that on Web 3.0, users don’t complete these tasks under a centralized authority’s watchful eye, and they don’t have to disclose their identity.

Some cryptocurrencies serve more than one purpose. Bitcoin, for example, is both a payment method and a store of value, like fiat money and gold. Other cryptocurrencies, called governance tokens, give network users voting rights on decisions project developers are considering implementing.

Here are 10 Web 3.0 cryptocurrencies to buy in 2022.

10 Best Web 3.0 Tokens for 2022

Here’s what you should consider before investing in some of the top Web 3.0 cryptocurrencies.

1. Helium (HNT)

Helium is a decentralized network powered by blockchain for the Internet of Things, or IoT, devices using the proof-of-coverage algorithm.

With Helium, users can build decentralized wireless infrastructure on any scale, allowing low-power devices to communicate with each other and transmit data over a network made up of nodes called hotspots, each of which covers a certain portion of the network. The hotspots also serve as miners. Network users who buy or build a hotspot both operate the network’s nodes and mine HNT, which is the Helium network’s native cryptocurrency.

The current price of HNT is $2.12, and it has a market cap of around $285.51 billion as of Dec. 11.

2. Chainlink (LINK)

Chainlink is a decentralized network built on Ethereum that facilitates the creation of smart contracts based on real-world data — one of the first to do so. It can integrate with any blockchain, which is why it has become a widely used platform for oracle services.

Chainlink’s native coin has seen a 4,190% increase in price since its 2017 introduction, and it has the benefit of being an early mover in the smart contract arena.

Chainlink’s current price is $6.72, and it has a market cap of about $3.4 billion as of Dec. 11.

3. Filecoin (FIL)

Filecoin is a decentralized peer-to-peer storage network where users can earn the platform’s token by renting out space on their computers’ hard drives. One of the main benefits of Filecoin is that it can store digital assets, such as art or music, behind non-fungible tokens.

Anyone can be a storage provider in Filecoin’s network, whether you’re an individual or a data center. All you need is internet access and enough disk space. The more storage you provide to the Filecoin network, the more transaction fees and tokens you can earn.

The token’s current price is $4.28, and it has a market cap of about $1.44 billion as of Dec. 11.

4. Flux (FLUX)

Flux is made to help developers create Web 3.0 applications and deploy them on different networks at the same time. It can also be used to create decentralized projects. Flux offers an oracle design with an exclusively decentralized infrastructure that lets users access data on- and off-chain.

The current price of flux is $0.5113, and it has a market cap of $145.21 million as of Dec. 11.

5. Theta (THETA)

Theta is a decentralized blockchain network built specifically for video streaming. As a peer-to-peer network, Theta aims to facilitate the delivery of video for users, with enterprise validator nodes from Sony, Google, Samsung and other companies.

The current price of theta is $0.8404, while it has a market cap of $837.65 million as of Dec. 11.

6. The Graph (GRT)

The Graph is an indexing system that can be used to organize blockchain data, which can further be filtered and queried by members. It is both a low-level blockchain indexing protocol and a high-level cryptographic ledger built upon that protocol.

The current price of the graph token is $0.0692, while the market cap is $477.17 million as of Dec. 11.

7. BitTorrent-New (BTT)

With more than 2 billion users and 200 million wallets, BitTorrent is a leading peer-to-peer file-sharing platform that has torrent client software for Mac, Android, Windows and more. It touts itself as “the world’s biggest distributed network” and provides secure streaming and downloading for torrent products. For a fee, users can upgrade to premium memberships to take advantage of perks like virtual private network capabilities and ad-free browsing, according to CoinMarketCap.

The current price of the bittorrent-new token is $0.0000006823, and it has a market cap of $648.12 million as of Dec. 11.

8. Siacoin (SC)

Sia is a peer-to-peer digital platform where users can pay hosts to rent their cloud storage space. The users’ data is encrypted in 30 segments, each of which is uploaded to a different host.

Sia’s developer, Skynet, has several Sia-based projects in the works, including cloud-based media streaming, content delivery and file sharing.

The current price of siacoin is $0.002571, while it has a market cap of $135.68 million as of Dec. 11.

9. Basic Attention Token (BAT)

BAT powers a blockchain-based digital advertising platform that delivers content through the Brave Browser. Advertisers pay for their ad campaigns using BAT, and some of the BAT they pay is distributed to users as a reward for viewing ads. Although the BAT environment protects users’ privacy, advertisers can target their ads to maximize their effectiveness.

The current price of basic attention token is $0.223, and it has a market cap of $332.63 million as of Dec. 11.

10. Polkadot (DOT)

Polkadot enables transfers of any asset or data across blockchains. Its service is not limited to tokens. With Polkadot, users can interoperate with multiple blockchains, called parachains, in the native Polkadot network. What sets Polkadot apart from competing networks, such as Ethereum, is that these parachains are unique and independent, but they can communicate with each other — a vital function for Web 3.0.

The current price of polkadot is $5.14, and it has a market cap of $5.89 billion as of Dec. 11.

Final Take

Considering the advent of Web 3.0, the rise of Web 3.0 cryptocurrencies is inevitable.

Web 3.0 is built on the concepts of greater utility, openness and decentralization. Since the proponents of these concepts are increasing with every passing day, the higher support for them could result in Web 3.0 tokens becoming lucrative investments. However, cryptocurrency is still a highly speculative investment. Do your homework before you invest, and don’t invest money you can’t afford to lose.

FAQ

Here are answers to some of the questions people are asking about Web 3.0 cryptocurrencies.

• What are the top Web 3.0 coins?

  • The three top Web 3.0 coins by market cap are Polkadot, Chainlink and Filecoin.

• Is Web3 the same as crypto?

  • Although Web3 and crypto are related, they're not the same thing. Web3 consists of distributed computer networks called blockchains. Cryptos are created on the blockchains for use as a payment method, a store of value or to give network users voting rights in decisions affecting the blockchain.

• Can you invest in Web3?

  • There's no single Web3 entity to invest in in the same way you'd invest in a company's stock. However, you can invest in companies involved in Web3 technologies, trade or stake Web3 cryptocurrencies, purchase non-fungible tokens you think might increase in value, or loan your cryptocurrency on a platform like Aave.

Daria Uhlig contributed to the reporting for this article.

Data is accurate as of Dec. 11, 2022, and is subject to change.

This article originally appeared on GOBankingRates.com: 10 Best Web 3.0 Cryptocurrencies To Buy for 2022