Oracle networks like Chainlink are crucial to the functionality of Web3, which is structured and maintained by pre-written codes and smart contracts. It quickly established itself as the market leader in the blockchain oracle sector. The network was founded by Sergey Nazarov and Steve Ellis in 2017. Next on the list of best web3 coins is Chainlink ( LINK).Ĭhainlink is a network of decentralised oracles that relay data to smart contracts, thereby enabling contract execution based on inputs and outputs from the real world. As of 11 April, DOT was the 13th biggest cryptocurrency with a market capitalisation of over $17bn, according to CoinMarketCap. Developers bid in auctions, where teams agree to lock up DOT tokens to earn the right to build on Polkadot. Its native coin, DOT, is used for governance and to participate in parachain slot auctions. Polkadot was founded by Ethereum co-founder Gavin Wood. Rather, Polkadot provides the bedrock “relay-chain” upon which a large number of validatable, globally-coherent dynamic data-structures may be hosted side-by-side,” reads Polkadot’s white paper. This means that unlike previous blockchain implementations which have focused on providing a single chain of varying degrees of generality over potential applications, Polkadot itself is designed to provide no inherent application functionality at all. “Polkadot is a scalable heterogeneous multi-chain. Polkadot gives parachains shared security and interoperability. These parachains have the freedom to operate independently. Developers can build L1 platforms on the Polkadot network called parachains. Unlike smart contract platforms like Ethereum ( ETH), which are also known as layer one (L1) platforms on top of which decentralised applications (DApps) are built, Polkadot is a layer-zero platform. Polkadot (DOT): Interoperability of blockchainsįirst on the list of top web3 crypto coins compiled by Coinmarketcap is blockchain platform Polkadot and its native coin, DOT. Despite all of them experiencing double-digit losses year-to-date (YTD), they remain strong players in Web3. Top web3 coins 2022 by market capĪs of 11 April 2022, the top web3 crypto projects by market capitalisation included Polkadot ( DOT), Chainlink ( LINK), Filecoin ( FIL), Theta Network ( THETA) and Helium (HNT). The top five web3 coins selected below are based on a list of web 3.0 tokens by market capitalisation compiled by CoinMarketCap.Īre they the top web3 coins to invest in this year? Let’s dive deeper into the projects and look at their performances so far this year. In this article, we’ve listed blockchain projects that are unique in their own respective offerings. Former Google chief executive Eric Schmidt joined blockchain oracle Chainlink ( LINK) as strategic advisor in late 2021. Sherice Torres jumped ship as chief marketing officer at Meta Platform’s crypto and payments unit to join Circle, the company behind USD Coin ( USDC). Ryan Watt left his job as head of gaming at Youtube to join layer-2 network Polygon’s ( MATIC) NFT unit. Top executives from tech companies are migrating to blockchain companies to create Web3. While Web3 is still in its nascent stage, elements of it such as decentralised finance (DeFi), non-fungible tokens (NFTs) and play-to-earn gaming have attracted attention. Web3, or Web 3.0, is heralded as the internet’s next phase. Top Web3 coins 2022: Next phase of internet? Photo: Muhammed AKAN /
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