Crypto- The Next Leap towards Future
There is no denying that crypto is the next big thing, or should we say it already is.
06:37 24 January 2022
Stupid are the ones that do not see crypto taking the world in the near future. There is no denying that crypto is the next big thing, or should we say it already is. At the pace our world is progressing, there are advancements made in the crypto world as well. Every day we get to hear all new terms. What is our first reaction-Now what does that mean? Yes! It is hard to keep up with crypto, and it's by parts, but what are we here for?
In this article, we will talk about some terms that we have heard recently but do not know much about. Web 3.0, huh token and PolkaDot up against Solana. If all of that sounds interesting, stick to this article because you are in for a ride. So, without any further delay, let us discuss the topics mentioned above.
What is WEB 3.0?
The term "web 3.0" denotes a new stage in the evolution of the internet as we know it. It denotes a phase in which your internet and all content you encounter is personalized just for you—a phase in which the internet becomes more open, intelligent, and autonomous. Data in Web 3.0 will be more decentralized than in the present phase of the internet, Web 2.0, where data is primarily centralized. The interconnection will be possible as a result of this. It will also entail data interaction between machines and users. Artificial intelligence and the semantic web are critical components of this phase.
How is WEB 3.0 related to Cryptocurrency?
You're probably wondering what Web 3.0 has to do with cryptocurrencies now that you know what it is. Because Web 3.0 is decentralized, it will operate via decentralized networks—the same networks that underpin blockchain and cryptocurrencies. Even though Web 3.0 is still in its early stages, we can already witness some early-stage blockchain applications that are performing well. Furthermore, as compared to Bitcoin and altcoins, tokens associated with Web 3.0 applications on the blockchain have performed far better than expected.
According to Messari the value of Web 3.0 tokens, increased by 244 percent on average, over the course of the year, as of August. While this is less than NFT's 2,726 percent increase, it is significantly better than Bitcoin's 37 percent increase during the same time period. While Bitcoin has become more stable and valuable to institutional investors, this data suggests that Web 3.0 could be the next frontier for speculative crypto traders aiming for big profits.
Despite the crypto market's recent falls, the biggest decentralized internet assets have enjoyed enormous increases this year. For example, this year alone, the value of coins like Helium (HNT), BitTorrent (BTT), and Livepeer (LPT) has surged by at least 800 percent. Crypto specialists believe that this is beneficial to the cryptocurrency market.
What are the Abouts of HUH Token?
HUH Token is a meme token, similar to Shiba Inu and Doge currencies. It is a decentralized, virtualized digital cryptocurrency that was created as the next evolution of a Binance Smart Chain yield-generating contract (BSC). The HUH token project's mission, according to the project's unknown designers, is to "disrupt the status quo and establish a source of income for everyone by rewarding the HUH community with both HUH and BNB tokens." The Token's value is currently $0, with a 24-hour trading volume of $0, despite the fact that it has a circulating supply of 1,000,000,000,000,000 HUH coins and a total supply of 1,000,000,000,000,000 HUH. The Token can also be traded on the Pancake Swap platform.
Some Features About HUH Token
1) The First Cryptocurrency to Offer Both BNB and HUH Tokens
As long as you have a HUH, you can automatically claim and receive BNB tokens without doing any effort. The number of BNB tokens received in an investor's wallet is determined by the quantity of HUH they own. However, in order to get BNB during the redistribution, a user must have a minimum quantity of HUH tokens. Users can have two distinct sources of income from the distribution of BNB and HUH tokens, thanks to this unique feature of the HUH network.
2) Referral System with a Difference
HUH, Token will be the first Cryptocurrency to offer a unique referral system that rewards both the referrer and the recommended once it goes live. According to the developers, the system was designed in such a way that even beginners will find it simple to use while still earning extra money. To make you understand the idea better of how the referral system works, when a user on the HUH platform refers someone with a referral code, that user receives 10% of the BNB Token from their first purchase, and when that referred person, in turn, recommends another person, the first user receives 2% of the new person's purchase amount.
Polkadot and Solana
polkadot and Solana are both speedier and more efficient than Ethereum, as well as being distinctive in their own right. Solana addresses the same issue with lightning-fast transaction speed, whereas Polkadot supports interoperability and scalability through cross-chain transactions.
Polkadot is a heterogeneous blockchain architecture created by Gavin Wood, one of Ethereum's co-founders, in the year 2016. Polkadot, unlike the others in the race, does not simply claim to be a new blockchain network with a number of benefits; rather, it has a pretty distinctive concept behind its development. It was created primarily to facilitate blockchain interoperability. Polkadot is a platform that allows different blockchain networks to join and collaborate. For cross-chain operations, Polkadot provides a shared environment. Interoperability and dApps are the network's key use cases. Simply said, users will be able to run smart contracts on one chain while transacting on another with Polkadot.
Solana debuted its mainnet in 2020 after publishing its first whitepaper in 2017. Solana's MSP is lightning-fast transaction speed, which is a significant improvement over existing Blockchain technology. In their blockchain network, the inventors of Solana apply the concept of clocks. This changes the focus of agreement away from the sequence and legitimacy of transactions and toward the time of execution. Developers at Solana have incorporated synchronized clocks to make validation easier using the concept of "proof of history" rather than "proof of stake" or "proof of effort."