If there is anything that of Amazon (NASDAQ:AMZN) Web Service told us yesterday is that Web 3.0 is long overdue. The AWS outage had widespread effects on the Internet, effects that would not be so obvious in a more decentralized world. The event shows investors what the bulls in Web 3.0 have always known. But now, with the interest in the web’s next iteration, what are the best web 3.0 cryptos to buy?
AWS outages are not uncommon. Yesterday was quite similar to what happened in November 2020. Quickly (NYSE:FSLY), a content delivery network, took down several popular sites in June 2021. Could this be what the internet looks like from now on? Internet users have great trust in cloud computing and content delivery networks (CDNs).
Web 3.0 promises to resolve this dependency through decentralization. Its advocates want to move away from an Internet dictated by the biggest tech companies – Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon, Meta-platforms (NASDAQ:FB), Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL). By moving the web to blockchain, the forces that drive the internet aren’t businesses, it’s the users themselves. This is because Web 3.0 blockchain projects are not the product of large corporations, they are tailor-made applications for the next generation of the Internet, designed by developers who put governance in the hands of users.
With this grand idea in mind, where to invest to promote the adoption of Web 3.0? Here are some Web 3.0 cryptos that support products aimed at making things like AWS outage a thing of the past:
- Flux (CCC:FLOW-USD)
- BitTorrent (CCC:BTT-USD)
- ocean Protocol (CCC:OCEAN-USD)
Web 3.0 cryptos to buy: Flux (FLUX-USD)
Flux is the most suitable crypto to buy to guard against centralized internet problems. That’s because Flux is called “blockchain AWS,” a decentralized response to Amazon’s prevalence in cloud computing. It offers blockchain as a service, while AWS cloud computing is about software as a service, infrastructure as a service, and platform as a service.
The anchor of the entire Flux ecosystem is FluxOS. Thanks to the FluxOS operating system, one can deploy decentralized applications, host servers, extract data in real time and perform many other tasks crucial to the current iteration of the Internet. At present, dozens of applications and servers are already running on the network.
Of particular interest to the Web 3.0 crowd is Flux’s use of FluxNodes to keep the web services platform running. Those who own the FLUX coin have the option of hosting their own node for the network. Operators deliver computing power to the network through whatever they can offer, such as a personal PC or a dedicated server. These servers are located all over the world; they keep developer projects running on the Flux network at all times in any part of the world.
Flux creates serious hype as a Web 3.0 game; the AWS outage continues to give the FLUX part more visibility as a Web 3.0 investment.
Chances are, investors are familiar with BitTorrent as a file sharing service. But did you know that it is also a crypto? BitTorrent’s revitalization over the past few years doesn’t just prepare it for a comeback as a web service; rather, it is positioning itself as a leader in Web 3.0.
In the early 2000s, BitTorrent was a tour de force among file sharing platforms. The service allowed file owners to offer file seeds for download. Users could download the seed and collect portions of files from a network of hosts until they received the complete file. After that, they could seed the file and start the process over.
This peer-to-peer file sharing is something the internet could gain. It removes fat from server providers, allowing users to provide and receive services. The local nature of these peer-to-peer services also adds to the decentralized aspects of Web 3.0 that attract investors.
In 2018, Justin Sun and his network Tron (CCC:TRX-USD) bought BitTorrent. The Tron network is behind the crypto-fication of the platform, allowing the file-sharing network to use the BTT token as fuel for transactions. Since then, BitTorrent has undergone numerous upgrades as a blockchain protocol, including a recent renaming of the BTT token. Now, as the BitTorrent mainnet prepares to launch on December 12, there is some interest in BTT crypto.
Buy Web 3.0 Cryptos: Ocean Protocol (OCEAN-USD)
Centralized IT is very kind to its users when it comes to data recovery. However, there are many Web 3.0 developers working to create something that can rival the convenience of the cloud. These developers also strive to make user data much more secure; indeed, cloud computing networks are not new to seeing compromised data. Projects like Ocean Protocol are among those leading the charge towards more secure data in a Web 3.0 world.
Ocean Protocol is certainly more of a web 3.0 game in spades, given that it emphasizes user data and how it’s managed. But users would be happy to know that Ocean’s data libraries do not carry the same security risks as today’s data custodians. This is because Ocean uses a data computation model.
Users can sell their private data for profit by uploading it to the Ocean Protocol; only the metadata is visible and the actual data files are encrypted and stored in chain. Those who purchase this data can then run calculations on those datasets, and because they are only visible on site, the data is highly secure.
All of this data exchange takes place on Ocean’s practical Ocean Market app. Of course, the platform also hosts various DeFi tools, allowing OCEAN holders to stake their currency and provide liquidity to the network. It has also recently started to set up a decentralized autonomous organization (DAO); Through OceanDAO, users will have the power to vote on future changes to the network.
At the date of publication, Brenden Rearick did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.