Web 3.0 +
What more can Web 3.0 offer?
Are there other Web 3.0 use cases?
Irrespective of the prevailing sentiments towards cryptocurrencies, Web 3.0 (decentralized web) is here to stay .
Web 3.0 is the evolution of the internet in its third iteration, the internet of Decentralized network, Open-source software, Machine Learning, Artificial Intelligence and the Blockchain technologies
Other top use cases for Web 3.0 will include
1 Decentralized Finance
Defi- Decentralized Finance, Financial spectrum based on decentralized application that run on smart contracts on the Blockchain.
The key platforms are Ethereum are Solana
Some of the major benefits of DeFi include trustless and borderless transactions, peer-to-peer transaction based on the Blockchain without recourse to a traditional central authority.
One of the top use cases of Web 3.0 is the Metaverse. Although there are multiple metaverses with varied requirements, the Metaverse is largely an untapped sphere where Virtual Reality, Augmented Reality are fused to engender an alternate life-like experience for its users.
Scores of global fashion brands are conducting fashion shows in the Metaverse.
Real Estate projects have taken a quantum leap into the meta verse with various real estate projects sold out before completion.
There are dozens of concert and musical shows in the metaverse.
Law enforcement inclusive of jail times has been implemented in the Metaverse.
3. Privacy and Digital Infrastructure
Despite the pervasive myth of anonymity on the block chain, it is not, however it provides a deeper level of data protection and privacy.
4. Blockchain Games
This is one of the earlier web 3.0 applications.
The games come in several variants such as free-to-play , play-to-earn models and have attracted over 1.6 million gamers globally.
The Metaverse is largely being built with similar technology form the Blockchain games. NFT is used extensively within the Block chain game ecosystem
5.Decentralized autonomous organization (DAO),
This refers to organization built on smart contracts that run on the blockchain technology. They aim to provide secure ledger and are not administered by any central authority.
In summary and despite all the talks of Web 5.0 (basically a version of the Web 3.0 built on the Bitcoin blockchain network (Lightning), Web 3.0 is the next frontier.
Bitcoin/Ethereum, Solana, Cardano, Polygon Watch as of July 7, 2022
👉Bitcoin (BTC) is now at $21,591.37 with a market cap of $412.1 Billion
👉Ethereum (ETH) is now at $1,235.95 with a market cap of $150.1 Billion
👉Solana (SOL) is now at $38.45 with a market cap of $13.2 Billion
👉Cardano (ADA) is now at $0.48 with a market cap of $16.1Billion
👉Polygon (MATIC) is now at $0.56 with a market cap of $ 4.5 Billion
As always ‘DYOR’ -‘Do Your Own Research Before investing in Cryptocurrency or any form of investment.