Kalkine Media ASX Share Market News & Research
Watchlist Sign Up/Login
Kalkine Media ASX Share Market News & Research

How are cryptocurrencies driving Web 3.0 growth?

2 min read | December 10, 2021 07:20 PM AEDT | By Sukriti Nair
How are cryptocurrencies driving Web 3.0 growth?
Image source: © Jirsak | Megapixl.com

Recent News

thumbnail

Can India Challenge China’s Manufacturing Dominance?

thumbnail

Is HAL the Biggest Winner of India’s Defence Boom?

thumbnail

Which Railway Stocks Could Double in the Coming Years?

thumbnail

Infosys and IT Stocks What Happens Next?

Make Kalkine Media
My Trusted Source

Google Source

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

More from Crypto: CRYPTOCURRENCY ASSETS 

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.