Web 3.0, Online gaming, Metaverse and Defi tokens. There are more new technology available to access today.
The Best Exchanges to get started on for Web 3.0 and Metaverse
Do you want to enter for Web 3.0 and Metaverse? Now you are looking for an exchange to prepare yourself for Web 3.0 and Metaverse?
Check out the 3 best exchanges to get started for Web 3.0 and Metaverse today.
| Best Exchanges for Web 3.0 and Metaverse | Description |
|---|---|
| 1. Bybit | Bybit offers stablecoin-margined Options contracts to help you expand trading opportunities, and Portfolio Margin to help you maximize capital efficiency. |
| 2. Binance | The largest Cryptocurrency exchange in the world. Buy, trade, and hold 600+ cryptocurrencies on Binance |
| 3. Huobi | Huobi, a Leading Digital Asset Trading Platform. A wide array of digital asset trading and management services to satisfy diverse trading needs. |
| 4. BitMEX | Supporting more than 30 Cryptocurrencies. Get crypto’s most advanced trading platform on your device. |
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Web 3.0: The Future of Decentralized Internet
To this day, few have come as innovative as the Internet, which brings convenience and value to billions of people every day.
In the early days of the Internet, static HTML pages and the Internet in relay chat format, which had to be used with permission, and had limited interaction, were typical.
Over time, today we have dynamic social media websites and interactive applications that have dramatically changed the Internet around the world.
The current version of the Internet (Web 2.0) is used by more than half of the world’s population, but it is also a place where centralized control systems, strong surveillance systems and multinational corporations abuse advertising.
Web 3.0 is the next generation of technology, which was the original vision of Sir Tim Berners, “a reliable, open network that is open to all, but difficult to access without the user’s permission.
To understand the basics of the new Web 3.0, you need to know the history of the Internet.
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The Evolution of the Internet: A Brief History
In its early days, Web 1.0 was nothing more than a private network of interconnected computers sharing information.
In addition, early users of Web 1.0 had to request permission to access online.
However, Berners Lee, inventor of the World Wide Web (www), quickly realized that the Internet’s full potential would be best achieved through a platform accessible to everyone.
This started the transition to Web 2.0.
Creative and collaborative innovations like Netscape and AltaVista have come in the form of browsers that allow users to access multiple sites.
Instead of the boring static HTML pages, interactive websites appeared where anyone could upload any content they wanted at any time, and as speed, servers and developer skills improved, Web 2.0 became the social media or social media we are familiar with today.
It has spawned a new type of online application, such as video game streaming sites.
However, despite the remarkable advances in Web 2.0, Berners-Lee’s vision of a “semantic web” in which information is delivered intelligently to users with the aid of machine learning and artificial intelligence has not yet been realized.
Web 3.0 is the Internet where centralized multinational corporations cannot own their data directly.
Instead, all users have the option to share personalized information with the enterprise on a case-by-case basis.
The move to Web 3.0 is moving towards the Internet, where the sovereignty of data is passed on to the user, and the computer itself understands the concepts depending on the situation.
It is also a decentralized internet where applications take back control of the data from a centralized entity, giving individual users legitimate ownership of the data.
Technologies such as blockchain, Internet of Things, edge computing, artificial intelligence, and machine learning will do the basic functions that make web3.0 work.
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Artificial intelligence and machine learning
Artificial intelligence is a branch of computer science that makes computer programs capable of intelligent and autonomous decision-making. Already, AI has set the standard for machine learning capable of handling today’s powerful and difficult tasks.
In addition, in order for a machine to provide customized services to the user, it serves to help the machine better understand the user’s needs.
Significant progress has been made in building intelligent systems that can evolve on their own in the Web 3.0 environment.
Some examples include search results that are automatically tailored to your preferences based on previous searches or suggestions and your overall search history.
And AI will further activate a semantic search engine that can classify keywords according to context.
For example, to distinguish between when ‘Jaguar’ refers to a car brand and when it refers to an animal.
In addition to intelligently informing users of search results, AI allows Internet applications to connect and run on multiple types of hardware devices and software, rather than being confined to one device. It can also communicate with AI from different servers to determine the most user-friendly and effective application for any given device. This allows users to enjoy customized applications based on the type of device they have and where they are located.
Distributed storage technology
The emerging wave of blockchain and other distributed ledger technologies will enable a framework for decentralized, transparent and trusted Web 3.0. For example, it is important to note that blockchains give users subjective rights over their data.
So, censorship, surveillance and centralization will disappear as traditional data centers are replaced by IoT and edge computing (computing methodologies in which data is stored locally).
Want to learn more about decentralized technologies? Read more What is a DApp?
Resources (data) accumulating on interconnected devices through IoT in the form of mobile phones, appliances and computers make
data storage cheaper, which can lower the cost of centralized servers.
Instead of having to pay to access data for centralized applications, users can exchange and sell data in a peer-to-peer format without losing ownership, creating new economics with data.
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Challenges for Web 3.0
To move on to a truly intelligent, AI-enabled Internet, systems must read and understand every word in existence.
Moreover, while we must overcome the ambiguities and contradictions of every language, even today’s most advanced AI seems insurmountable.
Also, because there is a lot of information or data that is intentionally misleading or inaccurate, the system must have a way to recognize and filter out the misinformation.
Also, learning what is true and what is not is a problem to solve because we ourselves think without knowing what is true.
The future of Web 3.0
AI-powered services, distributed data architecture, and Edge Computing infrastructure are the foundation of Web 3.0.
With the advent of blockchain technology, machine learning, and IoT, machines are ready to operate on the Internet, where they interact and share data on their own, without third parties.
Over time, Web 3.0 will provide a fairer Internet. In addition, users not only get personalized information, but also regain control of their data.
This is a great opportunity to move away from the Internet, where there are centralized, for-profit groups that have been exploiting us today.
While there are many challenges ahead, and significant progress may be time consuming, it is important to know that there are many professionals working towards this goal.
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Blockchain Technology in Online Gaming: A New Industry in Web 3.0
The online gaming community was one of the first Bitcoin adopters, not long after Bitcoin enthusiasts started.
It is not surprising that gamers have been looking for ways to incorporate blockchain technology and cryptocurrency into their virtual lives.
With the rest of the world finally on board with cryptocurrency domination, there have been several significant advances in the world of online gaming and blockchain technology. Let’s look at some examples of how this is integrated.
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Where to buy CryptoKitties?
First, we have CryptoKitties, perhaps the most popular crypto-related game.
Powered by Ethereum, the game involves buying, raising and selling a virtual kitty.
We use smart contracts to create unique cats that can be owned and transferred between users for a fee.
Each cat has a rating, which cannot see visible features and basic characteristics, but can have certain effects when certain conditions within the smart contract are met.
Excessive reliance on ETH and gas fees can be a limiting factor in your ability to play. Because every situation in the game has an associated cost.
NFTs in online games
Next, we made a real breakthrough in online gaming.
The company Polyent Games is registering in-game purchases using blockchain technology.
This means that the purchase is no longer a one-way transaction as the game is technically owned by the game. Instead, the item becomes a liquid asset that the owner can redeem for money.
This game-changing move was achieved using Non-Functional Tokens (NFTs), which you can read here.
NFTs create a legal and safe way for players to earn rewards such as limited edition items without investing too much time and energy.
Online Casinos
Finally, there are online casinos. As expected, some players who spend time and money in online casinos are guaranteed anonymity through the use of cryptocurrencies.
In response to the growing demand, new online platforms are emerging one after another that allow players to deposit and withdraw cryptocurrencies with options tailored to some users.
While not at the level of full adoption of blockchain technology in-game, it can still be a big step in the right direction for cryptocurrency adoption.
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Acquiring cryptocurrency through games
If you’re interested in anything cryptocurrency (from Kitty to Blackjack) besides crypto games, Phemex’s new cryptocurrency asset management program will come in handy.
Here, you can receive a fixed interest rate by depositing cryptocurrencies that are not currently in use.
This means you can handle more assets over time.
What is Metaverse Coin: Advantageous Cryptos on Metaverse
Previously, the metaverse was conceived of as an inaccessible sci-fi show of a digitalized future of mankind.
However, with cryptocurrencies and the rise of companies like the meta, this concept is becoming more real than ever. Not only that, as with everything related to new technologies, the expectations surrounding the metaverse are huge.
Since there are various elements in Metaverse such as digital currency, performance event, market, e-commerce, NFTs, workplace, education, gaming, social media, digital human, digital asset, AI, etc.
Just as physical currency has driven global economic development through trade and finance, the virtual currency can play a similar role in metaverse and metaverse economy development and innovation funds. However, it remains to be seen which cryptocurrency will play that role.
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Which cryptocurrency is best suited to the metaverse?
To date, neither the Metaverse Coin nor the Metaverse Token are capable of interoperating with digital reality while driving or operating this new 3D virtual space. Instead, new project tokens/cryptocurrency groups exist that are specific to specific industries or applications.
Can Ethereum become a metaverse coin?
For example, Ethereum, the second largest cryptocurrency by market cap, does not describe itself as a “metaverse” specialized project.
However, since there are hundreds of different types of centralized app companies based on Ethereum, it can be said that a part of the metaverse nexus has already been formed.
This is evidenced by the rise of DeFi, cryptogaming, ERC20 tokens, NFTs, and hypertokenization, which are the largest players in the metaverse.
Top 5 Metaverse Coins & Tokens
Although still in development, the metaverse will certainly convince investors that it needs “metaverse,” applicability and interoperability, in addition to the popularity crypto already enjoys and the fear of not being left behind (FOMO).
As a result, these coins will come with a huge investment.
That opens the door for more developers and creators to jump into the new technology, as we’ve already seen with Decentraland and Zilliqa.
1. Exy Infinity (AXS)
Exy Infinity is a play-to-earn pet raising game built on the Ethereum blockchain. Players can collect, breed, battle and trade game pets called axies.
In mid-2020, the game had a DAU of less than a thousand, but in a year attracted millions of users and reached a market cap of $10 billion.
The “metaversy” that Exy shows is that it is an NFT game model that collects crypto while playing games.
This gives the player the feeling of owning an asset in the game. Also, there is a world in the game called Lunacia, which currently shows Exy’s own metaverse.
Going forward, Axi’s roadmap includes plans for additional governance, a more complete game monetization model, and app store integration.
The addition of these features will not only improve Axi’s current ecosystem, but may also lead to better projects running on the metaverse.
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2. Sandbox (SAND)
A sandbox is a virtual world where players can leverage NFTs and sands (utility tokens on the platform) to build, own and monetize their gaming experiences.
The key point is that players can create digital assets in the form of NFTs, upload them to the marketplace, and integrate them into the game through the sandbox game maker.
Beyond gaming, the “metaverse castle” of the sandbox is that the virtual world is made of land (a digital element that composes real estate assets on the sandbox metaverse), so players can enjoy the pleasure of purchasing and building for it.
3. Decentraland (MANA)
Decentraland is a virtual world platform built on the Ethereum blockchain. Decentraland’s infrastructure not only supports a common virtual world, but also proves land ownership as a decentralized ledger.
In other words, it is a protocol that represents the content of each land plot and a P2P network for users and content creators.
The “metaverse” of Decentraland is that it is a platform that focuses on digital land parcel ownership where users can create original content and create their own environment.
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4. Enjin Coin (ENJ)
Engine is a cryptocurrency and smart contract platform that can provide game developers, content creators, and game communities with tools and crypto value to implement and manage virtual goods.
In addition, the engine is running a virtual goods marketplace for digital assets on Ethereum.
Not only that, the engine has its own wallet. Through work, users can use crypto, NFT, and use it as a digital identity in blockchain games and apps.
The “metaverse nature” of the engine is that it encourages digital activities such as users enjoying engine-based monetization games and acquiring NFTs to trade on the marketplace.
The ability to acquire, own, and trade virtual goods in the participant economy is a key feature of the early engine metaverse.
5. Zilliqa (ZIL)
Zilliqa is a sharding-structured smart contract platform that aims to solve the scalability problems experienced by other blockchains.
Zilliqa’s blockchain native token, ZIL (ZIL), is built to scale with decentralized apps from financial services to NFT marketplaces.
Zilliqa is taking shape as a portal to the world of blockchain where people can design, build and utilize powerful dAPPs.
Already, Zilliqa is capable of multiple creator economies and governance, including DeFi, dApps, and NFTs. But even more interesting is that Zilliqa recently announced a move to the metaverse.
In particular, we are planning to launch a metaverse of this scale in Zilliqa’s first layer-1 protocol.
It will be called Metapolis and will provide a highly immersive, game-like Extended Reality (XR) metaverse platform.
Zilliqa Metapolis consists of cities with brands, artists, concepts, games, e-shops, and real estate, where you can enjoy digital experiences such as monetization through games, NFT, e-commerce, avatars, and advertisements.
This will not only create a new level of connectivity between the physical and digital worlds, but will also provide many kinds of exciting economic activity.
Top DeFi Coins & Tokens: What Crypto Is the Source of DeFi Growth
Originally, DeFi referred to a decentralized financial application based on the Ethereum public blockchain.
However, it has now expanded to cover all decentralized financial applications, regardless of the public decentralized blockchain network on which they are based.
DeFi apps inherently seek decentralization and support trustlessness, transparency, and immutability of transactions between anonymous parties. The first cryptocurrency with this core philosophy was Bitcoin. Therefore, it can be said that Bitcoin is the first “DeFi coin”.
Since the birth of Bitcoin, hundreds of new virtual currency coins have appeared. However, many of these cryptocurrencies have a clear purpose and function.
Examples include privacy coins used anonymously, exchange tokens used on centralized exchanges, stablecoins used as hedging against volatility, and “ DeFi coins” used for decentralized financial activities.
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What is DeFi Coin?
DeFi Coin is a cryptocurrency coin or token used in the DeFi economy.
In other words, DeFi Coin is a cryptocurrency used for interest farming, lending, asset management, digital wallets, NFTs on decentralized exchanges, liquidity pools.
There are a plethora of DeFi services in the market, and you can find a variety of DeFi coins and tokens.
Is Bitcoin a DeFi Coin?
Although Bitcoin is technically a DeFi coin in that it started a diversification movement to pursue decentralized finance (DeFi) beyond centralized finance (CeFi) using a decentralized peer-to-peer payment network, it can no longer be considered a pure DeFi.
Because Bitcoin is not compatible with Ethereum, it is not used on decentralized exchanges, mining liquidity, interest farming tools, and lending protocols.
However, since WBTC is an ERC20 token that is linked one-to-one with Bitcoin, it can be used on the Ethereum platform. It can also be used for a variety of operations on the DeFi marketplace, including trading, staking, and exchanges.
This will allow Bitcoin holders to utilize DeFi as well.
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Difference between DeFi Coin and DeFi Token
The difference between coin and token is that DeFi coin is a native asset because it operates on its own blockchain, but DeFi token is built on top of an existing blockchain and uses standards such as ERC (Ethereum Blockchain), BEP, TRC, OMNI, and SPL.
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DeFi Top Coins and Tokens
Top DeFi cryptocurrencies by market cap and some popular DeFi coins include Uniswap ( UNI ), Terra (LUNA), Avalanche (AVAX), Dai (DAI), and AAVE.
What is DeFi’s coin and token classification criteria?
1 Decentralized Exchanges (DEXs)
Most of the DeFi markets are decentralized exchanges (DEXs) and currently have total deposits of $29 billion. DEX allows investors and traders to freely trade cryptocurrencies. Representative DEXs include Curve Finance, Uniswap, Sushi Swap, Balancer, and Bancor.
The platform coins used in these DEXs, UNI, CRV, SUSHI, BAL, and BNT, are all DeFi tokens because they are built on the Ethereum blockchain.
2 Lending (loan)
Representative DeFi lending protocols include Aave, Maker, and Compound, and users can use these protocols to lend assets, receive deposit interest, and engage in loans. Each lending protocol holds its own DeFi token.
3 Derivatives
Synthetics is a decentralized synthetic asset platform that provides on-chain exposure to real currencies, commodities, stocks and stock indices.
dYdX is a decentralized exchange that provides high-level financial products such as perpetual futures, margin, spot trading, and loans.
4 Asset Management
The two representative decentralized asset management platforms are Convex Finance and Yearn Finance.
Both DeFi asset platforms provide various services such as liquidity supply, loans, insurance, interest farming, and safe deposit boxes. do.
In summary, it is impossible to list all the existing services as DeFi is a huge field that is constantly growing and evolving. Therefore, it is also difficult to categorize all DeFi coins and tokens.
What are the best DeFi coins to buy?
DeFi investing carries risks, even for experienced crypto traders. But despite the risk, it is undoubtedly an exhilarating choice as it delivers returns that are not possible in traditional markets. The table below shows the top-performing DeFi coins and tokens in 2022.
DeFi tokens with the highest returns by year-to-date (YTD) until October 15, 2021 were Terra (LUNA), which showed a growth rate of 6000%, Pancake Swap (CAKE) at 3000%, Serum (SRM) at 600%.
Of course, the YTD figure alone cannot present a big picture to investors, but there are many DeFi tokens that enjoy an upward trend even on a 3-month basis.
For example, Tera (LUNA) and Uniswap (UNI) are the best DeFi tokens to invest in by the latest standards. Sushi (SUSHI) and DYDX are cited.
Ethereum, the core technology of DeFi, has been showing clear growth and momentum recently.
Not only that, but with improvements and plans to upgrade the network, we may soon see Ethereum break through the $10,000 mark in the future.
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Conclusion
DeFi is an exciting ecosystem and investment destination.
This is because the market is segmented and consists of various subsets such as loans, staking, interest farming, NFTs, and wallets.
As proof of this, the price of numerous DeFi coins has risen significantly since the summer of 2020.
The DeFi coin and token market is only just beginning to rise, and the value of many DeFi projects is also rising.
For investors looking for a DeFi experience, we believe the projects mentioned above are a great starting point.
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Comment by Hans
April 24, 2024
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