5 Best Web 3.0 Coins To Invest For The Long Term In 2023 - Our Picks
FIL - Top web 3 crypto in the market
DOT - Decentralized exchange token DOT is a must-have
AUDIO - Web 3 crypto full of potential
LINK - One of the best altcoins
ENS - Unique web 3 crypto to buy now
A Closer Look At The 5 Best Web 3.0 Coins To Invest For The Long Term In 2023
While most of the global populace is trying to invent new ways to invest in blockchain and crypto, Web 3 is emerging as the cornerstone of something bigger than the tech industry ever imagined. It is the new breed of the internet that aims to become the decentralized version of the virtual world.
This third-generation internet is where apps and websites will process information in a human-like way. The network allows users to interact and collaborate intelligently without worrying about central and data-specific repositories. In addition, Web3 strives for transparency, and the users will see endless resources, content, and agreements that will be accessible to all.
Web 3 cryptocurrencies are decentralized projects that use smart contracts and automate transactions over the internet. So, learn more about the 5 top web3 cryptos to invest in for the long term in 2023.
Filecoin (FIL)
Filecoin is a decentralized peer-to-peer storage network where users can earn the platform’s token by renting out space on their computers’ hard drives. One of its main benefits is that it can store digital assets, such as art or music, behind non-fungible tokens.
It also claims to be secure enough to store more sensitive information like private company information and records. It is one of the top Web 3 cryptocurrencies you can buy before it hits big in 2023. For these reasons, experts regard this Web 3 crypto as one of the top 5 long-term web3 cryptos to buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polkadot (DOT)
Polkadot is a unique project that aims to decentralize the web by connecting blockchains and enabling interaction. This will eventually allow new applications like decentralized finance (DeFi) services. Polkadot effectively allows any blockchain to be attached to it, making it one of the top crypto projects.
The DOT tokens are also used for governance to vote on any changes to the network. Unlike other cryptocurrencies, Polkadot can be easily upgraded to fix bugs or even introduce new features without needing a hard fork or spinoff. This makes it a highly user-friendly cryptocurrency that is easier to adapt.
Developed by a Switzerland-based Web3 Foundation, Polkadot is poised for future growth. In addition, the network is known for its unique and complex architecture. It is multi-chain and combines several blockchains. This unique structure allows it to process a large number of transactions simultaneously. For all these reasons, DOT is one of the 5 top web3 cryptos to buy before 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
AUDIUS (AUDIO)
Audius is a new music streaming company built on the foundations of blockchain or Web3 technology. Despite being only a few years old, it was named one of the hottest companies of 2021, attracting investment from top Venture Capital firms and artists like Katy Perry, Nas, Pusha T, Steve Aoki, and others.
Co-founded by computer scientists Roneil Rumburg and Forrest Browning, it is a community-owned and artist-controlled music streaming platform that runs on the Ethereum and Solana blockchains. Unlike the more restrictive model of Spotify, Audius aims to be a place where music artists can freely distribute, stream and monetize their work. Thanks to its open-source, decentralized framework, it has already gained a spot in the list of top 5 web3 cryptos to buy before 2023.
The number of active users (over 3 million) on this platform stands as testimony to their success. With more and more users and artists joining the Audius platform, the blockchain-enabled music platform will gain further market share in the mainstream music industry.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Chainlink (LINK)
Chainlink (LINK) is a blockchain abstraction layer that acts as a distributed network of oracles. The LINK tokens power the network operation, and the crypto enables smart contracts to be globally connected in order to increase blockchain performance.
It uses secure oracles to link smart contracts to real-world data, activities, payments, and off-chain computing in a highly tamper-resistant and reliable way.
The Chainlink Network focuses on growing its open-source community and guaranteeing decentralized participation to all data providers, node operators, smart contract developers, researchers, and security auditors. To participate as an oracle node operator on the network, one must stake LINK tokens. People in charge of the decentralized network’s information infrastructure can earn money and contribute to this crypto’s success.
Without Chainlink, smart contracts would be isolated, and they would never be able to reach their full potential nor communicate with other chains and contracts, so the importance of this project is clear from the start.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum Name Services (ENS)
The Ethereum Name Service is a naming service for wallet addresses, hashes, and other machine-readable identifiers. It turns difficult-to-read strings of data into easily readable addresses. It works similarly to the Domain Name System (DNS) used for websites.
The project allows users to display long Ethereum public addresses in a simplified text-based way. This makes it easier to share, use, and remember addresses and other data. Turning machine-readable numbers into human-readable alternatives is essential to improve blockchain adoption.
However, ENS is not just limited to wallet addresses. It can be used to represent transaction IDs, hashes, and metadata, all commonly found in the cryptocurrency world. In the end, these projects prove that usability determines a cryptocurrency's success. This makes ENS one of the top 5 Web3 cryptos to invest in for the long term in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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