(CTN News) – (Bitcoin) Blockchain technology is currently gaining a lot of momentum and it is speculated to show significant progress in the internet sector. As Web 3.0 networks will be based on decentralized protocols, we can anticipate a strong convergence and symbiotic relationship between these three technologies and other fields. Blockchain cryptocurrencies are decentralized projects that use smart contracts and automate transactions over the internet. In this article, we introduce you to the top Web 3.0 cryptocurrencies that will replace Bitcoin in the near future.
Helium is a decentralized blockchain-powered network for IoT devices that broadcasts data through radio waves to be recorded in the blockchain by a global network of low-energy wireless hotspots. To verify that the hotspots provide legitimate wireless coverage, the network uses a new algorithm known as proof-of-coverage consensus.
A blockchain abstraction layer called LINK enables universally connected smart contracts. Additionally, it presents the ideal combination of a project with the right technology and enough resources to pursue further development. Chainlink has a wonderful community. It is one of the best Web 3.0 cryptocurrencies that will eventually replace Bitcoin.
Filecoin is the filing cabinet of Web 3.0. It offers a secure alternative to centralized cloud storage and a passive revenue stream. Filecoin is capable of storing almost any type of data, whether it is audio, video, or text. Moreover, it claims to be safe enough to store more sensitive information like private company information and records.
Its native token, AUDIO, aligns the interests of artists, fans, and node operators. Tokens are used for governance, staking, and incentivizing the earnings of artists. Audius also features its creators on its weekly trending lists. Web 3.0 cryptocurrencies are the ones that will overtake Bitcoin in the future.
Flux aims to lay the groundwork for developers to build this new version of the web. Users can create Web 3.0 applications and decentralized projects using Flux and then deploy them across various networks. FluxOS – a decentralized operating system created especially for Flux users – makes this process even more efficient. It also offers blockchain-as-a-service (BaaS), which is very similar to SaaS.
A user-powered blockchain will power Theta, a next-generation entertainment and video platform. Users will be able to watch decentralized video through enterprise validator nodes from Sony, Google, Samsung, and other companies. In the future, it will overtake Bitcoin as one of the top Web 3.0 cryptocurrencies.
Researchers at John Hopkins, MIT, and other eminent academic and scientific institutions created ZCash, one of the first privacy-built cryptocurrencies. This privacy coin was originally built on the Bitcoin codebase, with the only difference being a privacy feature.
On the Ethereum blockchain, Livepeer provides a decentralized video streaming network. In this way, the various actors in the streaming ecosystem can participate in a secure and cost-effective manner. Distribution of real-time video and encouraging network participation are its main objectives. The Web 3.0 currency is set to replace Bitcoin in the near future.
Kadena is a scalable PoW layer-one blockchain protocol that is capable of processing up to 4,80,000 transactions per second (TPS), thanks to its use of branded chains. In contrast to Bitcoin, Kadena offers smart contract capabilities similar to those of Ethereum.
Due to its proven track record for parachain success, investing in Kusama is like taking a detour via Polkadot. As with DOT, developers compete to get a spot on Kusama’s network through parachain auctions. Because the network is older and stronger, Kusama is considered a profitable short-term investment. In the future, it will overtake Bitcoin as one of the best Web 3.0 cryptocurrencies.