In the previous articles, I hope you can imagine a certain part of Web 3.0 and the benefits it brings. Today, let’s take a look at 5 crypto projects that are ready for this revolution
If it is easier to understand, Web3 is the platform that we have been using now, it is not a trend like meme coins, animals, NFT,… It can be understood that Web3 is a further vision of people, it is borderless, decentralized and a large ecosystem.
Because it is an ecosystem, Web3 will have layers that take on different roles from L0 - L4 respectively.
Web3 is a fairly broad category, in Web3 there will be many different sectors Parts of which include Data Management, File Storage, Content Creation and Distribution, IoT, Smart Contract Platforms, Shared Compute, Al, Decentralized Exchanges, Social Media, Application Development, Virtual and Augmented Reality, Misc,…
Here is 5 projects that current top 5 web3 ranking coins (By Messari)
As you know, Chainlink is a decentralized Oracle network that mediates smart contracts and external data, allowing to provide off-chain data into the blockchain and vice versa. Smart Contract inherently does not have the ability to interact with any data source outside the Blockchain, so the problem that Chainlink is solving is about connectivity.
Chainlink will empower smart contract developers to build dApps on various blockchains such as Ethereum, Binance Smart Chain, Solana, Polygon, Cardano, etc. The decentralized Oracle network is designed to enhance and extend the capabilities of Smart Contracts on a blockchain.
There are 3 main parts: Blockchain , Storage and Excutable
Chainlink is also a project under Web3 and in the Data Management group. The data sent through Chainlink is considered as a condition to activate the Smart Contract to work and generate output data.
In other words, Chainlink uses Oracle to connect to Ethereum, providing more data (time, API, …) to execute Smart Contract.
Filecoin is a Decentralized Storage Network designed to store users’ information. It is also a peer-to-peer storage network for data files on the Internet.
The solution that Filecoin brings is to maximize the cost of storing data, when our information is stored, it will save time, be safe and circulate more easily. In addition, Filecoin is also a project located in Web3 under the File Storage (storage) platform.
The way Filcoin works is similar to other storage projects in that users need to pay to store personal data, storage capacity and time are always available in the system. Of course, after storing, you have the right to access them (by other bridge devices). In addition, hosting participants can also earn rewards by participating in the Filecoin ecosystem.
Theta Network is a Blockchain system that streamlines the content creation and distribution process by combining Thetan Streaming services. Thetan is primarily interested in sports events, e-sports, music, gaming, and so on.
If you’ve ever watched stream rooms on YouTube, Thetan Network is quite similar to those videos, but Theta Network’s goal is to increase the quality of streaming video (such as limiting jerky, lag, and video quality). The high cost of infrastructure for video streaming platforms is still guaranteed; finally, the centralized and inefficient ecosystem.
Usually such streams are aimed at pulling users’ views, the higher the view rate, the greater the profit of the content creator (creator). Theta Labs launched Thetan Mainnet 3.0, upgraded Elite Edge nodes, increased user engagement, rewards, and content cost savings (CDN),…
And Thetan’s rotation mechanism will go from Validator, Guardian, Elite Edge Node, Peer Connection and Signature share.
If you have been involved in the market since 2019, then BitTorrent is no longer a strange name. This is also the first IEO project on Binance Launchpad, up to now, 23 projects have been launched on Binance launchpad.
BitTorrent is a protocol that allows users to create content and connect and share them through Tokenomics. In other words, BitTorrent is a set of protocols that provide infrastructure for third-party applications (exploit resources and allow users to contribute to the ecosystem of BitTorrent Speed, BTT Token and BTT Operations).
In the Web3 File Storage sector, BitTorrent is also one of the projects. Despite the fact that the BTTs did not “resound” until they were well-known thanks to the list of Web3 projects, the project’s native token BTT grew dramatically by 1.020 percent as a result of the early introduction (YTD).
Since its launch, BitTorrent has grown to almost 2 billion users, 200 million wallets, and 100 million monthly active users (MAU). Using BitTorrent on the Decentralized Web allows app creators to directly compensate users, while resources (information, data, etc.) are various and not controlled by anyone. The overall purpose is to inspire the development team and users to keep contributing to the BitTorrent ecosystem.
The Graph is a protocol that allows indexing and querying of data from the Blockchain, which means anyone can access it to build and publish APIs (Subgraphs). The Graph supports many Blockchains such as Ethereum, Polkadot, Near, Solana, Fantom, Celo…
The Graph is a project in the data management category in Web 3.0 that addresses the issues of speed, cost, and data processing. If you look at how it works, The Graph is solving a huge problem of Data provided for dApp applications on the Web 3.0 platform - almost the gateway to entering Web 3.0.
The Graph ecosystem consists of 4 main parts:
- Indexers: The creator of node.
- Curators: Developer of subgraphs.
- Delegators: Play a security role in the network.
- Consumers: The end user in the system.
-Source: Coin98, Messari-