The current internet is rich with opportunities, features, and all kinds of services. It is easy to get lost in everything that it has to offer, including social media, streaming services, news websites, online gaming, and much, much more. However, for all its benefits and advantages, the current internet — Web 2.0 — also has its flaws.
Primarily, all the services available to us today are entirely centralized. This means that they are owned by companies that only have one goal — to earn money. Some of them charge you in exchange for providing services, while others are offering services for free, but are also bombarding users with ads. However, no matter what service you use, they are all collecting your data. Some want to analyze it in order to improve their service, while others are selling it to advertisers, who then target you with more personalized ads.
This is why the decentralized internet is desperately needed, as it will allow users to be in control of their own data, and decide who should be allowed to see it, and who should not. More than that, decentralized internet, popularly called Web 3.0, or Web3, is the natural next step for the internet development, where you will be in control of your own money, you will have access to everything with no intermediaries, and you would be able to prove ownership of any digital asset of any kind that you have.
As a result of cutting out these middlemen, everything would be cheaper, transparent, and immutable, which is why so many projects are already launching Web3 services, even though this next stage of the internet is still in the very early stages of its creation. But, if you wish to help and support the projects that are working on developing it, here are some to invest in right now.
The first on our list is Polkadot — a project that was created in order to solve the issue of scalability. As you may know, older blockchain projects are incapable of scaling to meet demand, which leads to long waiting periods and high transaction fees. Polkadot found a way around it by developing parachains — parallel chains that are taking over a portion of the main network’s work.
At the same time, these parachains can be used to connect to other blockchains, meaning that Polkadot may have found one way to establish bridges to other networks, which might be the earliest form of the future version of the internet.
To learn more visit our Investing in Polkadot guide.
Next, we have Helium, which is a decentralized blockchain-powered network for the Internet of Things devices. Helium essentially allows low-powered wireless devices to connect to it and communicate with one another, which allows quick, easy, direct sharing of important data.
Its network consists of nodes which it calls Hotspots, and they are devices offered by people from all over the world that are boosting the network’s signal, providing internet for IoT devices to connect to and use the internet, even in areas where regular internet providers do not offer coverage. Helium literally offers a decentralized internet connection, and as such, it might play a crucial role in decentralizing the Web.
To learn more visit our Investing in Helium guide.
Next, we have Filecoin, which is a decentralized storage system that wishes to provide a safe place for storing humanity’s most important information. It works similarly to cloud services, only cloud services are centralized, meaning that your data stored on them is not only accessible to you. This means that it can be misused by third parties, which is not acceptable in a decentralized world.
Filecoin offers an alternative that is truly safe, secure and guarantees the privacy of your information.
To learn more visit our Investing in Filecoin guide.
4. Basic Attention Token
Basic Attention Token, or BAT, is a native cryptocurrency of the Brave Browser — a decentralized browser that features an integrated wallet and guarantees the security of your data. The project aims to revolutionize the way online advertisements work. Instead of allowing advertisers to bombard users with data as they please, the project blocks all ads and lets users choose to view ads only when and if they want to.
However, they also get rewards for doing so, which the project believes is only fair. If you have to watch some company’s ads, you should be compensated for it, and it represents a great way to earn a bit of crypto along the way.
To learn more visit our Investing in Basic Attention Token guide.
Halfway down the list, we have Conflux. This is a project that provides sustainable infrastructure for the global token economy. It aims to connect creators, communities, and markets from all over the world, and not let the borders stop them from interacting with each other.
The project functions as a high-throughput Layer-1 consensus blockchain that uses a unique Tree-Graph consensus algorithm, essentially enabling the parallel processing of blocks and transactions, which boosts scalability. Plus, it is the only regulatory compliant public blockchain that is allowed in China, which grants it a unique advantage for those who wish to reach Asian markets through blockchain technology.
To learn more visit our Investing in Conflux guide.
Next up, we have Aragon — a decentralized platform built on Ethereum’sblockchain that offers a new, modularized way to develop dApps, crypto protocols, and DAOs. Since Web 3.0 will be all about creating communities and having them manage everything in democratic ways, a project that allows for easy DAO creation on open-source infrastructure with governance plugins is definitely something that has a future in the growing, decentralized internet.
To learn more visit our Investing in Aragon guide.
In the seventh spot, we have a project called Elastos, which aims to be a blockchain-powered version of the internet. Elastos emerged as a concept back in the year 2000, but since the development of blockchain and cryptocurrencies, it decided that being based on this technology is a better option. It has seen active development on the blockchain since 2017.
Like many other projects, Elastos recognized the limitations of Ethereum and similar platforms that are slow, not flexible, and unable to scale. This is why Elastos was developed as a dAppplatform that solves such limitations and offers a better experience to the users. But, the twist is that you can access dApps, but you do not have to access the internet in order to run them. All dApps will run on Smart Web, with the idea being that this will protect users from malware and digital attacks.
Moving forward to number 8, we have a project allied Flux — a new generation of scalable decentralized cloud infrastructure. Essentially, it aims to allow users to develop, manage, and spawn their apps on multiple servers at once.
Its ecosystem is a fully-operational suite of decentralized computing services and Blockchain-as-a-service solutions, and as such, it is ready to be used in the Web3 environment.
To learn more visit our Investing in Flux guide.
Nearing the end of the list, we have Theta Network — a blockchain-powered network that was built specifically for decentralized video streaming. The project aims to provide a decentralized version of platforms like YouTube, Twitch, and alike, and among its advisors are the co-founder of YouTube, Steve Chen, and the co-founder of Twitch, Justin Kan.
Essentially, Theta’s idea is to have its users — who have extra bandwidth and other computing resources — contribute the resources needed for streaming, and in exchange, they will get rewards, while streamers get a decentralized network to broadcast their content, attract fans, and earn from the community engagement.
To learn more visit our Investing in Theta guide.
Finally, last but not least, we have Braintrust. This is a project that acts as the first decentralized talent network that wishes to connect skilled, vetted knowledge workers with the world’s leading companies. Every company in the world seeks to hire capable workers who know how to do their jobs in the most efficient ways.
However, it is not always so easy to find the right people for the job, while would-be employees have a hard time reaching out to the companies that might have work for them. Braintrust aims to help the two groups connect and solve both of their problems at the same time, and establish long-term relationships between workers and employers. This may very well be the future of job hunting, which is why we believe that this project has an excellent future ahead of it.
To learn more visit our Investing in Braintrust guide.
Web3 holds great potential for the future, as it promises to change everything that we know, and the very way the internet works. We know that right now, it all seems too good to be true, but it is, and by looking into the mentioned projects, you will quickly see that they do have a plan and that they do work.
So, all that they require now is a decentralized, interoperable network to be established, and Web3 will officially be born. Of course, that will require more work and figuring out some problems that have lingered for more than a decade. But, the development has been progressing and everything is suggesting that we will, in fact, reach that point someday. So, consider preparing for that by investing in one or more of the mentioned projects right now, and be ready when Web3 finally takes off.