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Crypto Tokens- Top 3 Popular in the Web3 Space

Crypto tokens and the internet as power it becomes more decentralized, its third generation cousin, Web3, has seen massive growth. The article will explore some of the top crypto tokens in the Web3 space, find out their functionalities, and why they could be suitable investments in the long term.

 

Key Takeaways

Web3 is the decentralized version of the internet.

FileCoin is a Web3 token with a platform that provides a solution for decentralized file storage.

Polkadot is an open-source interoperability platform that facilitates the cross-chain transfer of data on the blockchain. It not only has its own token but also other types of assets.

BAT is the token that powers a new concept: deliberately monetizing users’ attention.

 

Top Web3 Tokens

Here are the top  Web3 crypto tokens that you can consider purchasing. They have been selected based on their functionality, popularity in the Web3 community, and their previous contributions to the technology.

 

Filecoin (FIL)

Founded by Juan Beret, Filecoin is a happening web3.0 project that focuses on decentralized File Storage. Unlike Amazon Web Services (AWS) or Cloudfare, which are very centralized, Filecoin specializes in providing the same functionality permissionless. It thus lets people store sensitive information on the web without having to hand it over to mega-advertisers.

Filecoin supports applications like Web3. Storage applications that allow the internet to become permissionless. The P2P technologies it enables also offer an alternative imagination of how applications can be built with Web3 and, in turn, how the internet can evolve in the future.

Here’s more exciting stuff about Filecoin:

Its functionality prevents mega-corporations and governments from censoring information that belongs to private individuals.

The decentralized storage on applications powered by Filecoin also lowers the entry barrier for developers who want to build innovative solutions on Web3 instead of Web2.

Since Filecoin is the native token for all these applications and forms the base for further development, it is an excellent token in terms of functionality.

Crypto Tokens- Top 3 Popular in the Web3 Space
Filecoin

 

Polkadot

Polkadot (DOT) is an open-source interoperability platform that facilitates the cross-chain transfer of data on the blockchain. It allows tokens and other types of assets, thereby allowing blockchains to be interconnected with each other.

Here’s some more information about Polkadot:

DOT was designed by the Web3 Foundation to provide a foundation for a decentralized shift of the web. It is one of the only ones to do so—complete with mechanisms that allow users to control critical aspects of the network.

By its interoperability, Polkadot can interact and share data seamlessly with one another; it can also simplify the creation of new applications and services on its platform.

Polkadot is one of the top coins to consider buying in this category. Here are the functionalities it offers:

Interoperability: It enables blockchains to interact seamlessly and pass on data efficiently.

Scalability: Its scalability has to do with the fact that it allows interconnected network validators to ensure the security and consensus of the blockchain. That way, it can scale efficiently by making it possible for multiple parallel blockchains to run simultaneously.

Upgradability: Polkadot can upgrade itself automatically and quickly fix bugs. All of this, without ever requiring a fork.

Governance: DOT coins can also be used to take significant decisions about the future of the network.

 

Crypto Tokens- Top 3 Popular in the Web3 Space
Polkadot

 

Basic Attention Token

The Basic Attention Token (BAT) powers a new concept: deliberately monetizing users’ attention. It is a native token of a blockchain-based digital platform, Brave, that rewards users for their attention.

What is the BAT experience?

The BAT experience entails users watching privacy-preserving advertisements and getting rewarded for it. Advertisers pay for the campaign in BAT tokens, and a small percentage of that money is given out to the users who watch those ads. It gives advertisers a better return on their advertising costs and users a revenue proportionate to their attention. That’s not all.

Founded by Brendan Eich and Brian Bondy, both highly distinguished in the internet browsing software industry, the Brave ecosystem and BAT tokens are also unique because they enable payments to non-members. This means that the platform can tip users who are not yet part of the network and enhance its outreach for the benefit of advertisers. BAT allows advertisers to remove the middlemen from the advertising industry and serve their campaigns to the customers directly. They cut out mega-corporations like Google and Facebook, which have dominated the environment. The Brave ecosystem promotes a culture where advertisers keep user information secure and care about privacy while making a profit.

Crypto Tokens- Top 3 Popular in the Web3 Space
Basic Attention token

As of 2021, the BAT network has more than:

30 million active users

12 million connected wallets

400 direct advertisers based out of 190 countries

1 million publishers.

Wrap-Up

While these top crypto tokens seem to be great investments, please remember that they are still very volatile and are controlled by unpredictable market conditions. We encourage you to research on crypto tokens and use due diligence before investing.

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