Best 3 Cryptocurrencies Web 3.0 to Buy in August

By August 24, 2022Polkadot
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Polkadot (DOT)

Since it has attracted so much interest from financiers and establishments across the board, DOT ranks among the top Web 3.0 currencies to purchase right now.

One of the best blockchains for transferring any kind of asset or data across other blockchains is called Polkadot. Polkadot enables users to collaborate across several blockchains by using a novel technique called parachains.

Even while each parachain is separate and operates autonomously, a key feature of Web 3.0 is that they may share information with one another. In addition, the Polkadot network is expanding at a fast rate, and DOT will soon be the market leader in the decentralized internet area.

Filecoin (FIL)

Filecoin serves as the “file cabinet” of the Web 3.0 era. It’s essentially a P2P storage network where people rent out space on their hard drives in exchange for FIL. Therefore, Filecoin is safer than centralized cloud storage services like Cloudflare and Amazon Web Services. They have control over users’ private information saved with them. In addition, Filecoin offers a decentralized data storage and retrieval service through its network of independent storage providers.

As of April 2021, FIL has risen to a record high of $237.24, having enjoyed a phenomenal upswing over the previous several years. Even if Filecoin was caught up in the crypto winds of 2022, market watchers predict that the coin’s value will increase dramatically over the next few years as it emerges as a viable contender in the Web 3.0 realm.

Filecoin markets itself as a secure repository for storing sensitive data such as proprietary business documents. One other perk of crypto is that it may be used to store non-fungible digital goods like music or artwork. Using a new kind of evidence called Proof-of-Spacetime, data is stored in blocks that are generated by miners.

ZCash (ZEC)

Among the top 3 cryptos that will compete in Web 3.0, ZCash stands out as one of the first coins developed with privacy as a primary design goal.

Coins designed to protect user anonymity are becoming more important in today’s data-intensive society. The idea behind Web 3.0 is to provide people full access to and ownership of their data. To ensure that users’ transaction histories cannot be traced back to them, cryptocurrencies like ZCash use a special ZK-SNARKs technology that enables shielded transactions.

For purposes of audits, know-your-customer checks, and utilizing exchanges and brokers, users may also easily turn off the protected transaction functionality. This makes ZEC one of the greatest cryptos to compete in Web 3.0 since it puts the power of data ownership in the hands of the people.

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