Web3 means lots of things to lots of people. Instead of trying to define it, I’m going to talk about 3 main themes in Web 3 that I think are worth watching. And I don’t care what you call it. Call it Web15 if you want.
But I’m full of alpha in today’s article. In fact, the themes of modular, scalable blockchains, easy Wallet UI (user interface) to increase adoption, especially through mobile-native apps, and cross-chain interoperability are 3 of the big themes of the future. So, we have 7 altcoins that hit on 1 or more of these major themes. Curious? Want to know more? Then let’s check these coins out.
What are the Benefits of Web 3?
Web3 is bringing some important changes to web users. Important ideas like more decentralization, more privacy, and more censorship-resistant platforms. Just check out this huge leak of Celsius customer data just last week.
We have an increasing trend towards authoritarianism in government also to thank for more interest in privacy. And these concepts are vital. The idea of you owning your data and followers instead of Facebook or Youtube being able to shut down your account at a moment’s notice is important.
Coin #1: DOT
So with that in mind, coin #1 is one of our longtime favorites, Polkadot. DOT is a leader in one of our favorite categories, the Layer 0 ‘build out your blockchain here’ category. I like a few in this category. So, Polkadot is not the only Layer 0 on my list but here are some things I like about them:
- The crowdloan & staking system to pledge for a parachain gives lots of utility to the DOT token. People must stake it, hold it, and pledge it for their project to get a parachain slot
- The staking % is HIGH. 51% are staking it now and most of these stakers are long-term HODLers. They are believers in the project.
- Room for growth here is enormous.
Polkadot still has the largest active developer ecosystem outside Ethereum, with almost 3x more weekly commits than the next largest ecosystem according to @MessariCrypto.
Shout out to the devs that actively contribute to making Polkadot's multichain vision for Web3 a reality. pic.twitter.com/r9lNDwZJk0
— Polkadot (@Polkadot) October 3, 2022
The knock on Polkadot is that they aren’t growing fast enough. But we think they are building well, building right, and the returns from that are coming soon.
Coin #2: ATOM
Modular blockchains, the idea of having a blockchain that’s easy to create and build out apps and ecosystems is one of the big themes of Web3. Layer 0s like Polkadot are a natural project to fit this category. And I like it so much I have a 2nd Layer 0, the leader in the category, Cosmos.
Cosmos has more blockchain ecosystems than any other. They include:
- BNB Coin and Beacon Chain.
- Terra Luna Classic & New Luna.
- The Secret Network, and others.
⚛️Cosmos Ecosystem – Q3 2022 Quarterly Report
— Cosmos Daily ⚛️ (@CosmosATOMDaily) October 6, 2022
Their tools for building out a blockchain have created billions of dollars of Web3/crypto value. But until now, there was a big question about Cosmos and its ATOM token.
How does ATOM Benefit from this?
Unlike DOT, the native token of Polkadot, where every project has to stake and hold it, that’s not true with ATOM. That is, it wasn’t true in the past, but things are changing.
Cosmos ATOM 2.0 Whitepaper, if adopted, will bring lots of extra utility to ATOM. All projects will have to hold some to pay for Interchain Security. We did a Cosmos update video recently featuring this new, updated whitepaper and what it will mean for ATOM holders. We are bullish on it.
Are you bullish on Layer 0 protocols like DOT and ATOM? Do you have a different favorite? Let us know in the comments below.
Coin #3: MATIC
Here is another of our favorites, MATIC. I don’t think you can be bullish on Ethereum and not bullish on Layer 2 solutions for it. Layer 2 will stay vital to the ETH ecosystem for a long time to come even with The Merge completed.
And the undisputed leader of Layer 2 is Polygon. Here’s why:
- They have their own chain that’s a sidechain of ETH.
- They are making great acquisitions like Hermez to add to their zero-knowledge (ZK) protocol portfolios.
- Use almost every technology a quality L2 needs whether ZK or SNARKS or rollups.
- They are becoming a fast, inexpensive home for games too. Games are one of the fastest-growing sectors in the industry.
It's the world's 1st open source zkEVM network and we couldn't be more proud ✨
— Polygon – MATIC 💜 (@0xPolygon) October 12, 2022
Polygon continues to make good strategic decisions and increase its influence in the market.
Coin #4: Fuse
Next, we have a project in the open-source money area. Fuse Network. Fuse is one of our small-cap gems. Their goal is to enable the creation of new tokens as easily as possible. They have their own stablecoin fUSD and their native token, FUSE.
In their Fuse Studio, they even have a no-code option so entrepreneurs can create their own token that includes fiat on-ramps. It’s pretty cool. With no coding necessary, a business can create a loyalty token or something else worthy of exchange. This opens up lots of options.
Elastic Fuse RPC nodes provide personal, geographically diverse, and protected API endpoints you can immediately start using with @ChainstackHQ!
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— Fuse ⚡️| GITEX Dubai 🇦🇪| DevCon Bogota 🇨🇴 (@Fuse_network) October 3, 2022
One thing Fuse has that we really like is its mobile wallet app. It’s simple and clean. They are trying to bring real-world utility by having a simple Paypal-style app for moving money around.
Like blockchains being modular, another big Web3 theme is mobile-friendly or mobile-first. And Fuse is.
Coin #5: Celo
Another mobile theme is Celo. They are so mobile-centric, they use phone numbers as public wallet keys. They want to make moving crypto as easy over the phone as people do with Paypal and Venmo.
Celo has a stablecoin cUSD, and others, and makes it easy for developers to issue tokens on their compatible EVM chain. And Celo is big in the cross-chain interoperability side of the industry both within their chain and their popular Celo Bridge linking a few chains with Celo.
Dive in for a recap. 🧵⤵️ pic.twitter.com/0IvSWedGGD
— Celo (@CeloOrg) October 13, 2022
Few chains are so heavily invested in mobile and in a great user experience as Celo is. Plus they’ve been around since 2017 so they aren’t some new kid on the block either. Mobile is an under-represented part of the crypto-economy right now. But if you think like I do that mobile will catch up, then Celo is worth a look.
Do you have a favorite crypto project that focuses on mobile? What is it? Maybe we will feature it in a future video. Let us know in the comments
Coin #6: Lukso
Now to another of our Gems, Lukso. Lukso is bridging physical, consumer goods with digital goods w NFTs through their blockchain.
You should check out our Gem Report for why we like Lukso so much but I can sum it up for you here:
- Pedigree: one of the creators of the ERC-20 token standard is its founder
- Big Brand advisors: Advisors include executives from Nike, Chanel, and Instagram. That’s great strategic partnering for a consumer-based blockchain like Lukso
- Identity: Working hard to solve the decentralized identity issue, especially for creators who will use their platform.
The biggest problem Soulbound Tokens (SBTs) face is that the current Blockchain identity systems are tied to a single private key that is unchangeable.
Learn about the properties and issues of SBTs and why SBTs need Universal Profiles to work👇
— LUKSO (@lukso_io) September 29, 2022
While there are a few projects targeting the creator economy, I think there will be several winners there and Lukso is positioning itself to be one of them.
Coin #7: zkSync
zkSync is another player in the Ethereum Layer 2 side of the industry. That’s another theme we have here along with mobile and modular, easily customized blockchains. The zk, as we said before on Polygon, is for zero knowledge. This is one of the most popular ways to run a Layer 2 and keep it secure.
The zk rollups method is a popular way to set up an ETH L2. We did a video just on this subject in December and included zkSync as one of our favorites then. The good news, you are seriously early on this one. The bad news, they haven’t launched their token yet but an airdrop is in the works. Make yourself eligible for the airdrop by using one of the dApps in their ecosystem while it’s in the testnet.
We’re excited to announce that the proposal for @Uniswap v3 to deploy on zkSync 2.0 has passed. Watch this space for more details about the integration and what it will bring to our growing ecosystem. #jointhemission https://t.co/F1Cqw09hCd
— zkSync (@zksync) October 14, 2022
And that’s it. 3 big themes and 7 coins from large caps down to almost ready to have their token generation event (TGE). Which of these coins do you like most for the future of Web 3?
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