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Highlights
- Web3 or Web3.0 is the latest buzz word across the internet.
- Recently, Amazon Web Services (AWS) outage called for a decentralised and private Web 3.0 future.
- Evolving cryptocurrencies can help investors surf through the internet evolution.
Amazon Web Services’ (AWS) recent outage and slowdown clearly highlight the importance of a decentralised web world. It questions the dominance of internet biggies like Meta, Google, Microsoft or Amazon. It seems that Web 3.0 is the answer to the growing problem. Its decentralisation and privacy focus are taking it a notch above its predecessor, Web2.0. One way to invest in this buzzing internet future is Web 3.0 crypto tokens.
How cryptocurrencies work in Web 3.0
- Web 3.0 evolves the current web experience into a decentralised future, which does not depend on Big Tech.
- Rather, Web 3.0 users and machines interact with data using smart, digital contracts, over a peer-to-peer network.
- Web 3.0 provides digital space for people to produce content, create codes, share them and make deals on it.
- Web 3-based cryptocurrencies give users the benefit of selling data for profits in the form of cryptocoins or tokens.
However, the highlight here is that users make informed choices on data sharing and privacy controls.
Which are Web 3.0 cryptocurrencies that focus on privacy?
Among the multitude of cryptocurrencies from the Web3.0 evolution, few are more focused on addressing privacy concerns of users. Well-known names include,
- Safle- It uses blockchain technology to decentralise identities with identity wallets.
- Zcash- one of the few first privacy-built cryptocurrencies built on the Bitcoin codebase.
- Monero-a popular privacy coin for hiding details like the sender’s and the receiver’s addresses along with funds being transferred.
Other than these blockchain networks like Ehtereum, many cryptocurrencies are based on Web3 technologies.
Also Read: What is Web 3.0? What are the top tokens?
How are cryptocurrencies driving Web 3.0 growth?
Bottom line
The semantic Web 3.0 is driven by privacy and decentralisation, giving users greater control over their data. NFT, new cryptocurrencies and even the Metaverse are making blockchain evolution the most probable next version of the internet.
Also Read: IDEX crypto jumps 60% post Coindesk listing
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