2022 - The Year of Web 3.0 - Tokens, Trends & Opportunities - Report
Hello and welcome back to the new weekly report from The Crypto Journal.
The full article is here: https://thecryptojournal.substack.com/p/2022-the-year-of-web-30-tokens-trends
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I will start with this chart, which shows the search volume trend for web 3.0 in the last 12 months:
Web 3.0 defines the next generation of the Internet, redirecting power from big tech enterprises to individual users. This web will be decentralized and based on peer-to-peer technology. It would allow people to purchase and trade online without relying on an intermediary such as a company or a bank, eliminating any middleman fees and providing anonymity for its users.
🧪 Why it matters
Thinking that Web 1.0 (basically the www) has revolutionized information and the Web 2.0 revolutionizes interactions, Web 3.0 can revolutionize agreements and value exchange. It changes the data systems in the backend of the Internet, introducing an elastic state layer by incentivizing network actors with a token.
🔍 Problem
The Internet we have today is damaged because, first of all, we do not control our data. It's been around 30 years since the mass adoption of the www. We still depend on the idea of stand-alone computers, where information is centrally stored and managed (centralized) on a server and dispatched or retrieved by a client.
Just think about our daily interaction on the Internet, where copies of our data get transmitted to the server of a service provider and then stored somewhere centrally. All that information consolidated in the hands of a few creates the risk that our data will get hacked. It also makes it more accessible for governments to perform surveillance and set censorship. And if any of these centralized entities closes down, your data is lost.
💡 Solution
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Web 3.0 - Since it will be decentralized, data will be interconnected in a decentralized way: here comes the blockchain and cryptocurrencies in action.
⚔️ Players
There are already some early-stage applications on the blockchain, and these tokens have been doing great lately. Here are some of the big players:
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Filecoin - D_ecentralized_ storage network.
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Helium - IoT - decentralized wireless infrastructure.
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THETA - Video delivery network.
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The Graph - Query protocol for Ethereum and IPFS using GraphQL.
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BitTorrent - File sharing protocol.
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Livepeer - Decentralized video streaming network
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Render - Distributed GPU rendering (what?)
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ENS (Ethereum Name Service) - Naming for wallets, websites & usernames.
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Gitcoin - Fund and coordinate open source development.
📡 New projects & Opportunities
Octopus Network - Multichain network on NEAR.
X-Protocol - New exciting project aiming to be a Metaverse & Application Portal
Numbers Protocol - Decentralized photo network.
Ethereum Push Notifications Service - Protocol for blockchain-based notifications chain agnostic and platform-independent.
🔥 Bepro - A new decentralized marketplace that links developers with operators or anyone looking to create open-source development repositories.
👗 Trends
User privacy and identity security are two essential notions in our society.
The big tech guys have manipulated and influenced these concepts in the last few years. Just think about Facebook (Meta).
With Web 3.0, users can take back custody of their digital identities by utilizing better distributed, interoperable, and self-sovereign applications.
The future of identity will be transportable and decentralized:
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ONT ID - Reclaim control of your digital identity with web 3.0 solutions.
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Z-Cloak - A privacy-preserving computing platform based on Substrate.
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My Crypto Profile - An identity linking tool for blockchains and social media platforms. Built by Litentry - decentralized identity aggregation computing services.
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Nym Tech - Infrastructure to prevent data leakage from internet protocols.
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