
Over the past two years, there have been many discussions surrounding Web3 and cryptocurrencies. And with good reason.
Part of the evolution from the Web 2.0 movement, Web3 is a movement to decentralize the Internet, democratize access to applications, websites and services within the ecosystem, and challenge the dominance of the tech giants.
Since the birth of the space, many cryptocurrency projects have joined the movement to build a viable infrastructure for Web3 and facilitate a smooth user transition.
And in this article, we have collected the top five Web3 tokens that investors should consider in 2022.
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1. Polkadot(DOT)
Founded in 2016, Polkadot (DOT) is one of the most popular projects in the Web3 space.
As a Web 3.0 interoperability platform, Polkadot's blockchain ecosystem aims to interconnect otherwise independent chains, enabling seamless value transfer, data exchange and other operations.
Polkadot's ecosystem consists of four key elements. The first is the Relay Chain, which serves as the main blockchain of the project, responsible for communicating with other chains and maintaining a high level of security within the ecosystem.
Parachains and parathreads are independent chains that run parallel to the Relay Chain, communicate via Cross-Chain Messaging (XCMP), and benefit from the security provided by the main Polkadot blockchain. Deployment can take advantage of a limited number of dedicated slot parachains - the project must win the auction if it wants to lease one.
Parathreads don't have to go through this process since they don't need a dedicated socket to operate on. However, since they share a slot with other chains, there is no guarantee of continuous uptime for parathread projects.
Transit bridges also play a key role in the Polkadot ecosystem, as they are responsible for enabling interoperability between the relay chain and other blockchains.
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2. Filecoin(FIL)
In addition to interoperability between different blockchain networks, decentralized storage is also an element of Web3 infrastructure. As one of the leaders in this space, Filecoin (FIL) is working to make this happen.
As a decentralized storage network, Filecoin users can host and retrieve their data on the project's dynamically distributed cloud solution, which runs on the blockchain. From free hard drives on desktop computers to full-fledged data centers, ecosystem participants can provide their hardware storage services and get FIL in exchange.
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3. Theta Network(THETA)
Filecoin focuses on distributed storage solutions, while Theta Network (THETA) builds the next-generation video and entertainment blockchain, providing decentralized streaming and content delivery.
Just like Filecoin users share their device’s idle storage for rewards, Theta viewers contribute their unused bandwidth and computing resources while watching videos. And in exchange for optimizing streaming quality and overall user experience, they'll earn Theta Fuel (TFUEL), one of the project's two native cryptocurrencies.
Users who share computing and bandwidth become caching nodes and form a video grid transmission network with others to stream streams to viewers in a decentralized manner.
One of the most important aspects of Theta is that content delivery is optimized for local usage through peer-to-peer technology, which not only improves the quality of streaming, but also significantly reduces bandwidth usage compared to large centralized CDNs and video streaming platforms.
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4. The Graph(GRT)
The Graph (GRT) provides a viable solution to software that lacks decentralized indexing and querying in the blockchain space.
Before the project launched, developers had to turn to centralized servers to process and collect data and develop their own methods for the process.
A key element in the Web3 infrastructure, Graph allows crypto projects and developers to extract data from external sources in a decentralized manner using immutable application programming interfaces (APIs) called subgraphs.
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5. Basic Attention Token(BAT)
Basic Attention Token (BAT) is one of the oldest Web3 tokens.
Launched in 2017, BAT is a utility token that runs on the Ethereum and Solana blockchains and supports decentralized advertising on the open-source Brave browser.
Brave is a privacy-focused browser with built-in ad and tracker blocking. However, users can choose to turn on ads, which allows them to earn BAT tokens. Since consumers can decide whether to display ads in their browsers, the project's ad network provides advertisers with optimized results at more competitive prices.
Thanks to the above advantages, and the option for content creators to earn income through advertisements and BAT tips, Brave has been growing steadily, with nearly 19 million daily active users, 10.6 million BAT wallets, and 3.8 million on-chain transactions (as of June 2 day).