The new internet age known as Web3 wants to replace our current internet called Web2. Things like social media, finance, gaming and metaverse on Web3; plans to push decentralization into the background. Also, some web 3.0 coin projects are gaining momentum.
Analysts draw attention to this web 3.0 coin project
A recent report by Vantage Market Research on the current state of Web3 valued the industry at just under $3 billion. But the same report says it has the potential to grow to roughly $23 billion by 2028. That’s an increase of more than 700 percent. So how can investors seize this opportunity? Analysts from consulting giant The Motley Fool mentioned three coins that have the task of supporting the future growth of Web3: Ethereum (ETH), Polygon (MATIC), and Arweave (AR).
Ethereum is slowly becoming the foundation of Web3. To be clear, there is no possibility of Web3 without Ethereum. With their smart contracts, developers can program decentralized applications (dApps) to replace third-party assets, allowing user data to flow seamlessly between applications without any aggregation. There are other smart contract based Blockchains like Solana and Cardano. However, Ethereum has risen to the top as one of the most used blockchains.
Its popularity has caused it to host the most developments for Web3 use cases. As with JavaScript or HTML for Web2, it can be helpful to think of Ethereum as the underlying layer or code that allows Web3 to run. Any investor interested in Web3 should make sure they have a substantial amount of ETH in their portfolio.
Polygon is also important for the web3 domain
This network is positioning itself to become a powerhouse of Web3 as the new age of the internet continues to advance. Polygon is unique because it makes up for Ethereum’s shortcomings. cryptocoin.com As we reported, the technology Polygon uses executes transactions at lightning speed for less than a penny. For a Blockchain to be a “building block of Web3 infrastructure” it must have “scalability, security and Ethereum compatibility”.
Storage service: Arweave (AR)
Last but not least, Arweave. In a world full of data, that data needs a home. Arweave is a data storage solution that uses Blockchain technology to provide a simple way to store information forever. The best part about Arweave is that no central authority controls the data. After the data enters the Blockchain, no one can change the data. Also, Arweave is compatible with smart contracts. This means that Web3 developers can customize dApps to use data from Arweave’s Blockchain.
In accordance with Web3 principles, this data cannot be used for profit as it is anonymous. It can never be changed as it is secure on a Blockchain. To store data on Arweave’s Blockchain, users need to purchase storage with AR tokens. The idea is to support more data storage as Arweave’s network grows and for Web3. Thus, as the demand increases so does the price of the AR coin.
