Top 3 Web3 Projects That Are Hot In The Market
As 2022 begins, there is a distinct sense of anticipation for what the world of digital assets has in store following a dramatic 2021 packed with surging NFTs, Defi, and Play2Earn ventures. This enthusiasm is a result of the fact that 2021 was packed with initiatives centred on the acquisition of digital assets. Since 2014, when Ethereum co-founder Gavin Wood coined the phrase Web3 to describe the decentralised and serverless web scape that would one day operate on blockchain technology and peer-to-peer (P2P) technology, we have been waiting for this version of the Internet. After multiple false beginnings over the last several years, the new year is now being touted as Web3 breakthrough moment with various WEb projects. We have arrived at this crossroads for the Internet just in time, given the variety of difficulties that social media platforms like Facebook and Twitter have produced for themselves and their users. Censorship, the loss of users’ data privacy, and the Great Social Media Outage of 2021 are examples of these issues.
It is a good moment to take a look at some of the most significant Web3 projects that are expected to take off in 2022, each of which will be responsible for constructing an integral part of this new decentralised online paradigm. These include the Helium, Deeper Network, Arweave, Polkadot, Ocean Protocol, and Theta Video API projects.
Now that the big actors are starting to emerge, it is a good moment to examine the most significant Web3 projects.
Deeper Network, a privacy pioneer in the Web3 projects arena, has rolled out multiple versions of its Deeper Connect hardware line, which functions as a decentralised VPN (DPN) to build a censorship-resistant and data-private network for users, who are rewarded for their participation with $DPR tokens. This is done to construct a censorship-resistant and data-private network for users, in which their involvement is rewarded (ERC20, BEP20, Native).
The gadget offers enterprise-level security and a single-click connection to the Web 3.0 ecosystem. This ecosystem already incorporates ad blocking and parental controls, and it will soon incorporate decentralised advertising, a decentralised video content creation platform (D-Tube), a decentralised content distribution network (D-CDN), and decentralised file sharing and storage, Defi applications, NFT marketplaces, decentralised e-commerce, and more. The Deeper Connect Pico model is now being offered on Kickstarter, and it has already earned $2.1 million in fundraising via crowdsourcing, a huge increase from its initial $100,000 funding goal.
Deeper is the first blockchain to meet the requirements established by Helium to join its network, and the combination of the two technologies is creating revolutionary outcomes. In addition to being able to mine Deeper’s native currency (DPR) through bandwidth sharing, the Deeper Connect Mini can now mine HNT via radio waves when linked to Deeper Connect HNT Miners. This new functionality will become accessible shortly.
This is the first miner we have seen that supports two distinct coins. Currently, Deeper has over 55,000 nodes distributed throughout more than 150 countries.
— swankyfinance.eth (@swankyfinance) July 20, 2022
Arweave is a community-owned and open-sourced platform that enables users to keep data on a blockchain for an indefinite amount of time for a one-time fee. According to the creators, the protocol performs similarly to Uber’s for web-based cloud storage. It does this by connecting users with content to preserve people with free space on their hard drives. One of the key purposes of the endowment that Arweave has created is to ensure the data’s long-term survival.
The Arweave protocol serves as the basis for the permaweb, a collection of protocols that may be linked in many ways and are powered by the mining of native AR tokens. Not only does it handle smart contracts, but it also hosts applications and stores data, and all of these features are easily compatible with web browsers.
Arweave will compete with Filecoin (FIL) and other decentralized storage blockchains in Web 3.0, and the three of them will take on Amazon Web Services and other centralized cloud storage giants (AWS).
The world of blockchain is still reliant on fiberoptic networks provided by telecommunications companies such as Verizon and Comcast, at least for the time being. Web3 projects must include hardware in the decentralization domain to achieve its aim of total decentralization and be deemed successful.
Helium, which refers to itself as “The People’s Network,” is motivating users to build up blockchain-friendly hotspots in densely populated areas where mining is more profitable by giving mining of Helium money (HNT) in return for doing so. All of this is accomplished using the firm’s energy-efficient radio technology.
The Internet of Things (IoT) will be enabled by the Helium Network, which also contains strong development tools and ready-to-use hardware. The network is already functioning in North America with more than 400,000 hotspots and more than a thousand sites. It was built to have the best scalability feasible. Additionally, preparations for 5G compatibility are being done.
· Theta – Streaming video for Web 3
The brand-new decentralised video solution created by Theta Labs is now in the race for the title of Web3 projects most efficient video streaming technique. Through the Theta Video API, users may submit their videos and get URLs that they can embed on their web pages. The technique, which may be executed by almost anybody, is completely decentralised and wholly reliant on the peer-to-peer interaction offered by the Theta Network. This is not an embedded video that links to a centralised site; rather, the whole transaction takes place on the blockchain.
The API is powered by Theta’s TFUEL token, and no additional platforms are required for encoding, delivering, or playing the content. The company’s objective with its decentralised solution is to level the playing field for people and small to medium-sized businesses by supporting them in avoiding reliance on centralised platforms such as YouTube and Vimeo.
Ocean Protocol (OCEAN) is a firm that specialises in the decryption of data for artificial intelligence and develops Web3 project solutions (AI). The “last mile” services are offered by several data markets, with data owners controlling their datasets as opposed to depending on the administration of a single market. The protocol incorporates blockchain technology and provides several licencing choices for the information it saves and trades.
Ocean Protocol aims to decentralise the data sharing procedure by putting a high emphasis on both transparency and scalability. Ocean Libraries may be used to build markets and wallets, while the Ocean Market application facilitates the secure publishing and discovery of data. The application may also be used to publish data.
Given the company’s history of robust growth, quick expansion, and the creation of its stablecoin, 2022 has a great lot of promise, especially for its $OCEAN token (ERC20).
· Polkadot – The interoperable eco-system of blockchains
Polkadot (DOT) is a blockchain technology that aims to serve as a connection between other blockchains. This makes it one of the most intriguing blockchains particularly developed for Web 3.0. It contains interoperability features that let it interface with other blockchains and exchange any kind of data. In addition to the scalability and security that are rapidly becoming industry standards for Web3 projects, its Substrate framework and the concept of interoperable parachains hold the promise of resolving a great deal of the challenges that other layer-1 networks are currently facing as they attempt to keep up with the expansion of their respective industries.
Parachains are customizable, project-specific sub-blockchains that loop back into the main chain, also known as the Relay Chain. With the introduction of Polkadot and its “canary network,” Kusama, they were presented. Parachains are intended to enhance efficiency, increase network scalability, remove specialised data of the Relay Chain, and enable native tokens. In addition, some data may be kept private by these chains.
Polkadot has created a lot of noise from the introduction of its first para chain auctions in November and continues to do so until the activation of the first five winners on December 18. This is even though its native asset $DOT has remained mostly under the radar in terms of pricing in 2021. Expect great things from the project’s creator, Mr Gavin Wood, and his team in 2022 as they continue to choose and add their 100 auction winners for the para chain.
The era of Web 3.0 is rapidly approaching, and anyone who has not been closely following the gradual developments in this space should be astounded by the sheer breadth of new technologies that are being rolled out to reproduce and improve the problematic Web 2.0 experience in a decentralized setting.
Even while the great majority of people across the world continue to sleepwalk through the latter phases of the old internet, it is important to start paying attention to where this is headed and how to position yourself to get an advantage.