3 Cryptocurrencies, That Will Explode as Web3 Expands

3 Cryptocurrencies, That Will Explode as Web3 Expands

Cryptocurrencies One of the most crucial elements of effective investment is being up to date with trends. One strategy to create a portfolio that outperforms the market is to be quick to identify those that will eventually become the status quo.

Consider making an investment in some of the most well-known tech stocks ten years ago.

Our daily lives are now influenced by businesses like Meta Platforms (NASDAQ: META), Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and many more. Ten years ago, an investor who was trend-aware could have predicted it and taken advantage of such opportunities.

The tech-heavy Nasdaq Stock Market has seen value growth of around 250% over the past ten years.

Even though hindsight is always 20/20, there is one pattern in the market right now that offers a chance like to one from ten years ago.

The new age of the internet

Our reliance on the internet appears to grow every. Some businesses profited from this and are now ubiquitous in our daily lives.

These businesses offer technology, monitor your online activities, and make outrageous profits thanks to their centralised business methods. However, it appears as though that might be coming to an end as a result of new technology that has the power to completely alter the internet’s status quo.

This new era of the internet, also known as Web3, wants to be everything that the existing internet, also known as Web2, isn’t.

Social media, banking, gaming, and the metaverse are examples of Web3 phenomena that have the potential to undermine the current centralized system.

With Web3, decentralized blockchains would serve as the foundation for an open-source, safe, and completely trustless internet, meaning that no external company, such as Google, is required for the system to operate.

According to a recent report by Vantage Market Research, the market for Web3 is currently worth slightly under $3 billion.

However, according to the same research, it might increase to about $23 billion by 2028. That represents a growth of more than 700%. How then can investors take advantage of this chance?

Owning the cryptocurrencies that are native to those blockchains is one easy way to get a taste of the next internet era because blockchains are the backbone of Web3.

Based on current developments, I think that three are up to the role of assisting Web3’s future growth: Arweave, Polygon, and Ethereum (CRYPTO: ETH) (CRYPTO: AR).

Ethereum

Ethereum is gradually becoming Web3’s core technology. To be clear, Web3 is not even remotely possible without Ethereum.

Decentralized apps (dApps) can be programmed with smart contracts to substitute third-party entities, enable user data to flow across applications without being collected, and—best of all—be extremely secure and execute automatically when certain circumstances are satisfied.

Solana (CRYPTO: SOL) and Cardano (CRYPTO: ADA) are two additional smart-contract-based blockchains, however Ethereum has emerged as one of the most popular ones.

It now hosts the majority of development for Web3 use cases due to its popularity. It would be helpful to think of Ethereum as the foundational code that powers Web3, similar to how JavaScript or HTML powers Web2. Any investor in Web3 should make sure their portfolio has a sizeable amount of Ether.

Polygon

This network is putting itself in a position to dominate Web3 as the internet’s new golden era develops. With Polygon, the drawbacks of Ethereum (slow transaction speeds and hefty fees) are eliminated without compromising the security and decentralization that make Ethereum so appealing.

To accomplish this, Polygon removes transactions from the blockchain of Ethereum and later inserts them back. Transactions at Polygon are lightning-fast and barely cost a penny because of the technologies they employ.

Perhaps the greatest way to put it was by Polygon co-founder Mihailo Bjelic when he discussed the need for Web3. A blockchain needs “scalability, security, and Ethereum compatibility” to become the “holy grail of Web3 infrastructure.”

Web3 must continue to be quick and affordable if it is to serve all of the world’s internet users. Now that we have Polygon, that is conceivable.

Arweave

Arweave is last but not least. There needs to be a place for all the info in the world. With the use of blockchain technology, Arweave offers a straightforward way to save data indefinitely.

The nicest thing about Arweave is that the data is not under the control of a central authority and that once it is placed on the blockchain, it cannot be changed.

Additionally, Arweave supports smart contracts, allowing Web3 developers to create dApps that specifically leverage the information on Arweave’s blockchain. Additionally, in accordance with Web3 principles, because the data is anonymous and stored securely on a blockchain, it cannot ever be changed and cannot be exploited to make money.

We must first comprehend how Arweave functions in order to comprehend how it might be advantageous to investors. We’ll keep things short and sweet, but users must pay for storage space with AR coin in order to store data on Arweave’s blockchain.

Users might be ordinary people who want to keep a special photo or another blockchain that wants to store its transaction history to free up space. The idea is that if demand for Web3 data storage increases and Arweave’s blockchain expands, the value of the AR coin should as well.

Think about entering the metaverse using glasses or virtual reality goggles and finding all of your favorite games and apps waiting for you, just like on your phone’s home screen.

Without the help of any Big Tech companies, those apps and games all smoothly communicate with one another to deliver a special experience tailored just for you. Your bank account, pictures, and other data are all securely and privately kept on the blockchain.

Investors stand to win significantly today because Web3 is still far from being in its final form, and it is difficult to predict exactly how it would look. Investors can benefit from a tendency that may eventually become the norm as the internet develops further.

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