Top 10 Web3 Tokens to Watch in August 2022
At the time, Blockchain technology was experiencing a meteoric rise in popularity, and the Internet is one of the most unique sectors in which it is expected to see development. Since the networks that create Web 3.0 will operate on decentralized protocols, the fundamental building blocks of blockchain and crypto technology, we can anticipate that there will be significant convergence and a mutually beneficial relationship between these three technologies and others. areas of study. Cryptocurrencies designed for the Web 3.0 standard are decentralized initiatives that use smart contracts and automate transactions made over the Internet. So here is a list of the top ten Web3 tokens you should watch out for in August 2022.
1. Helium (HNT)
- Market capitalization: $1 billion
- Unit price: $8.12
Helium is a decentralized network for Internet of Things devices that uses the proof of coverage method. This network is powered by blockchain technology. Helium users can build a decentralized wireless infrastructure of any size, allowing low-power devices to communicate with each other and send data through a network of nodes called hotspots. Helium has one of the most robust Web3 networks, surpassing over 300,000 nodes in November 2021.
Each hotspot covers a particular percentage of the network as a whole. Mining operations are also conducted in hotspots. Helium Network users who purchase or expand a hotspot will simultaneously operate HNT, the native coin of the Helium Network, and manage the nodes that make up the network.
2. Audius (AUDIO)
- Market capitalization: $306 million
- Unit price: $0.3744
Audius is a decentralized digital music network that uses its native currency, AUDIO, to bring together the interests of music composers, music users and node operators. This is accomplished through the use of smart contracts. The coin has several applications, including governance, staking, and incentivizing to increase artist income. Audius also recognizes and appreciates its content providers by highlighting their work on its weekly listings.
3. Chain link (LINK)
- Market capitalization: $4 billion
- Unit price: $8.70
Chainlink is a decentralized network built on Ethereum, facilitating the creation of smart contracts based on data mined from the real world. Due to its ability to interact with any blockchain, it has quickly become a popular platform for providing oracle services. Recently, demand for Chainlink’s native token, LINK, has increased. At one point, it even overtook Shiba Inu to become the most commonly traded cryptocurrency held by the largest ether holders. In August, Chainlink’s current price was $9.16 and the company had a market valuation of around $4.3 billion.
4. Filecoin (FIL)
- Market capitalization: $2.1 billion
- Unit price: $8.17
Filecoin is a decentralized peer-to-peer storage network. Users can earn platform currency by renting space on their computers’ hard drives. Filecoin’s ability to hide non-fungible coins behind digital assets like artwork or music is one of the most valuable features of this cryptocurrency. Anyone, be it a person or a data center, has the potential to function as a storage provider within the Filecoin network. Your potential revenue from transaction fees and tokens will increase in proportion to the storage space you make available to the Filecoin network.
5. Flow (FLOW)
- Market capitalization: $252 million
- Unit price: $0.9805
Flux is designed to help developers through the process of building Web 3.0 applications and deploying those applications simultaneously across multiple networks. Moreover, it can be used in the formation of decentralized initiatives. Users can access data both on-chain and off-chain because Flux’s oracle architecture is built on a fully decentralized infrastructure. As of August, Flux’s current price is $1.12 and its total market cap is $288 million.
6. The graph (GRT)
- Market capitalization: 928 million dollars
- Unit price: $0.1346
The Graph is an indexing system that can be used to organize data stored on the blockchain. This data can then be filtered and searched by community members. A low-level mechanism for indexing blocks in a blockchain and a high-level cryptographic ledger built on top of this protocol are components of this system.
7. Theta (THETA)
- Market capitalization: $1.4 billion
- Unit price: $1.49
Theta is a decentralized blockchain network that was developed for the express purpose of facilitating video streaming. Theta is a peer-to-peer network that aims to make it easier for consumers to access video content. The network will have enterprise validation nodes from companies such as Sony, Google, and Samsung, among others.
Theta is known for launching NFTs with unique partnerships, iconic artists like Katy Perry, and popular TV shows like The Price Is Right, making it a must-watch in August 2022.
8. BitTorrent-New (BTT)
- Market capitalization: 928 million dollars
- Unit price: $0.0000009881
Over 2 billion users and 200 million wallets are associated with the BitTorrent peer-to-peer file sharing network, making it the most popular of its kind. Client software for BitTorrent can be downloaded for several different operating systems, including Windows, Mac OS X, and Android. It bills itself as “the world’s largest distributed network” and offers secure access to watch and download torrent material for various types of items. According to CoinMarketCap, users can upgrade to premium subscriptions by paying a fee. Premium subscriptions provide users with benefits such as the ability to browse the website without seeing advertisements. In August, the current price of a new BitTorrent token was $0.000001018 and its market capitalization was around $952 million.
9. Dots (DOT)
- Market capitalization: $9.7 billion
- Unit price: $8.80
Polkadot allows to transfer any asset or data on different blockchains. The use of tokens is not mandatory to use its services. Polkadot users can interact inside Polkadot’s native network with several blockchains called parachains. Polkadot stands out from other competing networks, like Ethereum, because each of its parachains is singular and self-contained, but the parachains can interact with each other. This is an essential feature for Web 3.0.
- Market capitalization: $254 million
- Unit price: $0.00492
Sia is a digital platform that operates on the peer-to-peer model that allows users to pay other users to rent their cloud storage space. User information is split into thirty discrete and encrypted chunks before being sent to a new site for each section. These projects include cloud-based video streaming, content distribution, and file sharing. As of August, the cost of one Siacoin is now $0.005031 and the cryptocurrency has a market capitalization of around $259 million.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in Web3 tokens.
Follow us on twitter @thevrsoldier to stay up to date with the latest news from Metaverse, NFT, AI, Cybersecurity, Supercomputer and Cryptocurrency!
Image source: yurihoayda/123RF // Image effects by Colorcinch
Comments are closed.