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HomeCrytocurrencyDecentralised Finance (DeFi) on the Rise: 10 Web3 Projects Changing the Game

Decentralised Finance (DeFi) on the Rise: 10 Web3 Projects Changing the Game

What is Web3 for?

Web3 has a fundamental purpose: to empower users . On Web2, tech giants have amassed a massive amount of personal data and control over the information we consume, leading to concerns about privacy and the centralization of power. With Web3, users regain full control over their data, identity and digital assets.

In addition, Web3 encourages the creation of fairer and more equitable digital ecosystems. By eliminating the middleman, creators and developers can be rewarded directly for their work and content . For example, artists can sell their digital works as NFTs, ensuring authenticity and receiving a cut of future transactions.

Another benefit of Web3 is improved security. By decentralising data and services, the possibility of massive cyber attacks is reduced, since there is no single vulnerable point . The information stored on the blockchain is immutable, which prevents malicious manipulation of records.

On the other hand, some say they do not completely agree with the Web3 scheme, going so far as to name its initiatives as “one more level”, this being the case of Web 4.0 and even Web5 .

Top 10 Ideas for Web3 Projects 

Flatcoins Decentralized stablecoins that are linked to the inflation rate, helping to preserve purchasing power. These stablecoins, according to Armstrong, can be backed by a basket of assets or use an algorithmic approach.

Reputation protocols Decentralized systems that assign a rating to cryptocurrency addresses or ENS names based on on-chain activity. These services, similar to Google’s PageRank search engine metric, can be used for credentialing, ranking, and fraud prevention.

Web3 Advertising Personalized advertising protocols that work with smart contracts and involve paying based on a user’s online actions (CPA), and not paying by clicks (CPC) or number of impressions (CPM).

Protocols to raise capital A concept that systematizes and simplifies the process of attracting investment for blockchain projects, taking it to a global level, making it easier and more transparent. The next stage of ICO development. 

Job boards and tasks  Decentralized marketplaces to find employees, contractors and performers for various tasks. The main feature of the concept is globalization, which is achieved through the possibility of paying for work using cryptocurrencies, that is, excluding all the disadvantages of traditional cross-border transfers. 

L2 Networking and Privacy Solutions It should be noted that the segment of this type of projects in 2023 is one of the most actively it is developing in the Ethereum ecosystem.

Fully decentralised  P2P platforms.

On-chain games  The head of Coinbase points out the enormous potential of this sphere and its strong connection with metaverse technologies. 

Tokenization of real assets Many prominent researchers agree with Armstrong; For example, Citigroup analyst foresee the growth of the tokenized asset market to reach $5 trillion by 2030.

Software for decentralised management systems  For example, to manage governments, individual and innovative “startup cities” or communities.  

NFT marketplace : Just as you need a marketplace to purchase most items, both in the real and digital world, an NFT marketplace allows users to buy, sell, trade, display, or mint (mint – create) their own NFTs. Think of an NFT marketplace like eBay or an Amazon, but exclusively for NFTs. Virtually anyone can use an NFT marketplace, but to access these marketplaces, a user requires the following

A crypto wallet that is compatible with the blockchain you intend to purchase the NFTs on. For example, if you plan to use the Ethereum blockchain to buy or sell your NFTs, you will need a compatible wallet like MetaMask. If you plan to use Solana , you will need a Solana-compatible wallet, such as Sollet.

Create Your Nft Marketplace here : NFT Marketplace Development

NFT marketplaces are crucial because they bring buyers and sellers together and offer users a series of tools that allow them to create their own NFTs in a matter of minutes. Artists can use the marketplace to list their NFTs for sale, and buyers can browse the marketplace and purchase the item through an auction process.

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