If there’s anything Amazon’s (NASDAQ:AMZN) Web Service taught us yesterday, it’s that Web 3.0 is long overdue. The AWS outage had widespread effects on the internet — effects that wouldn’t be so glaring in a more decentralized world. The event shows investors what Web 3.0 bulls have known all along. But now, with interest in the next iteration of the web at hand, what are the best Web 3.0 cryptos to buy?
AWS outages are not infrequent. Yesterday’s was quite similar to what happened in November 2020. Fastly (NYSE:FSLY), a content delivery network, brought down several popular sites in June 2021. Could this be what the internet is like from here onward? Internet users put an awful lot of faith in cloud computing and content delivery networks (CDNs).
Web 3.0 promises to solve this dependence through decentralization. Its advocates want to move away from an internet dictated by the largest tech companies — Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon, Meta Platforms (NASDAQ:FB), Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL). By moving the web to the blockchain, the forces driving the internet aren’t corporations — they’re the users themselves. That’s because Web 3.0 blockchain projects aren’t the products of large companies, they’re bespoke apps for the next generation of the internet, made by developers who put governance in the hands of the users.
With this grandiose idea in mind, where might one want to invest in order to help drive adoption of Web 3.0? Here are some Web 3.0 cryptos that support products aiming to make things like the AWS outage a thing of the past:
- Flux (CCC:FLUX-USD)
- BitTorrent (CCC:BTT-USD)
- Ocean Protocol (CCC:OCEAN-USD)
Web 3.0 Cryptos to Buy: Flux (FLUX-USD)
Flux is the most appropriate of cryptos to buy to hedge against centralized internet problems. That’s because Flux calls itself the “AWS of blockchain,” a decentralized response to the prevalence of Amazon in cloud computing. It offers blockchain as a service, whereas AWS cloud computing touches on software as a service, infrastructure as a service and platform as a service.
Anchoring the entire Flux ecosystem is FluxOS. Through the FluxOS operating system, one can deploy decentralized applications, host servers, pull real-time data and perform many other tasks that are crucial to the current iteration of the internet. As of right now, there are already dozens of applications and servers running on the network.
What especially interests the Web 3.0 crowd is Flux’s use of FluxNodes to keep the web services platform running. Those who hold the FLUX coin have the ability to host their own node for the network. The operators supply computing power to the network through whatever they can offer, such as an individual PC or a dedicated server. These servers are located all over the globe; they keep developers’ projects running on the Flux network at any time in any part of the world.
Flux is building some serious hype as a Web 3.0 play; the AWS outage continues to give the FLUX coin more exposure as a Web 3.0 investment.
Chances are high that investors are familiar with BitTorrent as a file-sharing service. But did you know it’s a crypto too? BitTorrent’s revitalization over the last several years is not just poising it for a comeback as a web service; rather, it is setting itself up to be a Web 3.0 leader.
In the early 2000s, BitTorrent was a tour de force amongst file-sharing platforms. The service allowed file holders to offer up seeds of files for download. Users could download the seed and collect portions of files from a network of hosts until they received the full file. After this, they could seed the file and start the process again.
This peer-to-peer file sharing is something which the internet could stand to gain. It cuts out the fat of server providers, allowing users to both supply and receive services. The local nature of these peer-to-peer services also adds to the decentralized aspects of Web 3.0 which investors are drawn to.
In 2018, Justin Sun and his network Tron (CCC:TRX-USD) purchased BitTorrent. The Tron network is behind the crypto-fication of the platform, allowing the file sharing network to utilize the BTT token as fuel for transactions. Since then, BitTorrent has undergone numerous upgrades as a blockchain protocol, including a recent redenomination of the BTT token. Now, as the BitTorrent main network prepares to launch on Dec. 12, the BTT crypto is seeing a fair bit of interest.
Web 3.0 Cryptos to Buy: Ocean Protocol (OCEAN-USD)
Centralized computing is very kind to its users when it comes fetching data. However, there are plenty of Web 3.0 developers working to make something that can compete with the cloud’s convenience. These developers are also working to make user data much safer; indeed, cloud computing networks are not new to seeing data compromised. Projects like Ocean Protocol are among those leading the charge toward more secure data in a Web 3.0 world
Ocean Protocol is certainly more of a picks-and-shovels Web 3.0 play, given its focus on user data and how it is handled. But, users would be happy to know that Ocean’s data libraries don’t carry the same security risks that current data custodians do. That’s because Ocean uses a compute-to-data model.
Users can sell their private data for profit by uploading it to the Ocean Protocol; only metadata is viewable and actual data files are encrypted and stored on-chain. Those purchasing this data can then run computations on these data sets, and because they are only viewable on-premises, the data is kept highly secure.
All of this data exchanging takes places on Ocean’s convenient 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 also recently began the implementation of a decentralized autonomous organization (DAO); through the OceanDAO, users will have the power to vote over future changes to the network.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.