The Internet has evolved since its inception. There is a real change in the way people interact first passively and then actively, and as we grow, we will soon interact with the Internet in a decentralized way. This is a term called Web3.0. Web 3.0 is a new and somewhat vague concept, but I’m going to break it down a bit and explain how the crypto market fits the big picture.
Web 3.0 operates on the basis of five key features:
- There is an evolution of the Semantic Web. That is, search results are generated according to their relevance to the search, not the keywords.
- The role of artificial intelligence in web functions will increase.
- Perhaps we are waiting for a large virtual reality. Web 3.0 guarantees this as 3D, and 4D images will become widespread.
- Improves connectivity. Human interaction with each other and with available information increases.
- There are no restrictions on online content. Anyone can use it anytime, anywhere.
To work as intended, Web 3.0 requires a decentralized protocol (a structural framework for blockchain and cryptocurrency technology). The need for interoperability, smart contracts, and peer-to-peer data exchange is the difference between Web3.0 and Web2.0, and can you see it outside of the blockchain? As the cryptocurrency market is booming with many of the best tokens ever, some of the biggest winners these days are PARSIQ (PRQ), NEAR tokens (NEAR), as seen in Tradingview, Redot, and Cointelegraph. ), And the Handshake (HNS) platform. One of the things these three have together is that they all need to be done in some way to promote cryptocurrency interoperability in real-world use cases.
Let’s take a closer look at each.
Parsiq is a protocol aimed at connecting on-chain platforms to off-chain platforms. Provides monitoring and event tracking privileges in a distributed way. Parsiq allows you to track information about major crypto tokens, crypto currency price changes, altcoin news and more. All the while, the information is structured in a transparent way. With Parsiq, you can quickly detect and prevent danger signals and cryptocurrency scams. Instead of combining search engines to display basic information about different tokens, you can use Parsiq to collect all the relevant information.
According to Cointelegraph analysis of Parsiq tokens, PRQ is an excellent token with many advantages.
Cointelegraph uses the VORTECS score. It is an intelligent way to predict the future direction of tokens by comparing historical and current token data on trading volume, sentiment, technical analysis on various trading platforms such as Redot and TradingView, and social media hype. It’s a bot.
According to VORTECS analysis, altcoin prices rose during the three days from October 22nd to October 24th, rising to 41% within an hour of that period.
The main known reason for this practice is that the Parsiq team is driving network interoperability use cases. Given the positive impact on major altcoin platforms such as Ethereum, Solana, South African Rand, Polkadot and Binance Smart Chain, it’s probably not surprising that it affected cryptocurrency prices. That is.
Near the platform
Altcoin news, such as the $ 800 million grant from the NEAR protocol, is rare in the crypto market and positions NEAR as a hot altcoin.
NEAR aims to bring the Internet to the blockchain and vice versa. It probably positions itself not as the evolutionary beat of Web 3.0, but as an important organ in the scheme of things.
As a Layer 1 platform, it aims to facilitate the injection of decentralized applications into the Internet while supporting interoperability between two separate networks.
Like Parsiq, NEAR tokens have recently shown some pretty impressive performance. It took three days compared to Parsiq’s two days, but the price of altcoin rose to a high of 82 on the VORTECS chart, regaining another 33% momentum the next day. This increase is due to a $ 800 million grant received for the development and growth of the platform. In the near future, we expect NEAR to occupy a significant share of 46% of Bitcoin’s cryptocurrency market capitalization of $ 2.6 trillion.
Apart from the price outlook for Altcoin, the handshake shares many similarities with Bitcoin. First, through a fixed supply (2.04 billion HNS), and then through a mining design, miners need to solve complex formulas that reward every 10 minutes. Handshake is a decentralized naming system on Web3.0. For clarity, the handshake is simply a way to assign a website address through an auction. Unlike Web 2.0, where anyone can search for and buy domain names, all names must go through the auction process in Handshake. I have a Peradventure, a website name that hasn’t been requested yet, and I need to send a request to the protocol. The algorithm uses many criteria to determine if a name will be auctioned. Once you have cleared the auction, you need to win at the auction table.
One of the rather unconventional things that happens at handshake auctions is that the winner of the bid must compensate for the runner-up. This approach is called Vickrey Auction. The top 100,000 websites ranked by Google’s AI Alexa will not be auctioned to avoid system abuse. Instead, the owner uses cryptographic certification to request them.
After reaching the lowest point this year, the amount of HNS tokens has increased by almost 500%, up 74% in one day. People just know the cryptocurrency domain naming system and no one wants to be left behind in future Web 3.0.