As always, this is not investment advice, you should consider carefully or consult an advisor before making any investment decision.
2023 is predicted to be a year in which Web3 breaks into the mainstream. So, if you are planning to invest in Web3, here are some of the most potential projects this year.
Chainlink (LINK)
Chainlink itself is not a Web3 platform; however, its technology is indispensable for Web3 projects that helps accelerate Web3 adoption. Chainlink is one of the first networks that allow the use of off-chain data to create smart contracts.
Chainlink was created in 2017 by Sergey Nazarov and since then, it has become one of the most popular crypto projects. Its community as well as its price and liquidity has seen a big growth. LINK is one of the cryptocurrencies which will explode due to the important achievements it has achieved. Chainlink has announced 500,000 non-zero active wallets on its network. In addition, Chainlink has achieved 500 integrations with its 500th partner, the decentralized financial currency system, Gaugecash. Among the integrations are 213 DeFi projects and 84 blockchains. These numbers are expected to keep increasing over time. Given the importance of Chainlink in the crypto space, LINK is obviously one of the best coins to invest in 2023.
Filecoin (FIL)
Launched in 2014, Filecoin is a decentralized storage network which stores files through a technology called Interplanetary File System (IPFS). Thus, Filecoin’s purpose is to make permanent data storage truly decentralized. Filecoin is specially designed to work seamlessly with Web3 and DeFi protocols. You can store data like NFTs, large files and data on its network. That is why Filecoin is one of the best networks for music streaming and video conferencing.
Filecoin includes a blockchain and native cryptocurrency (FIL). Filecoin (FIL) has received wide acceptance within the crypto community that is evidenced by the rapid growth of the community along with an increasing daily trading volume and market capitalization. Once the web3 concept becomes mainstream in 2023, Filecoin is expected to attract more investors that will push its price up.
Ethereum Name Service (ENS)
ENS (Ethereum Name Service) is a service that makes it easy to send and receive cryptocurrencies as well as access websites with simple, memorable names rather than long strings of letters and numbers. It takes the exact same concept as the Domain Name Service (DNS) used for websites. However, it isn’t only limited to wallet addresses, but also can be used to represent transactions IDs, hashes, and metadata, all commonly found in the cryptocurrency world. Overall, ENS is a potential web3 coin, so you might consider putting ENS on your watch list.
The Graph (GRT)
The Graph is an indexing protocol for querying networks like Ethereum and IPFS. Anyone can build and publish open APIs, called subgraphs, making data easily accessible. Whenever a blockchain is connected to the Graph, the data is automatically indexed. That means all unrelated data will be kept off-chain, making networks work faster and more efficiently. Graph works in the same way as Google, indexing web pages and making it easy to crawl the internet. This is why people often call Graph as the Google of blockchains.
Ocean Protocol (OCEAN)
Ocean Protocol is one of the pioneers of Web3, which has developed many useful tools for the development of Web3 apps. It connects consumers and data providers through an ecosystem that integrates blockchain-based data provenance, privacy, and control. All data providers have the power to price their data, while consumers get a tool to access any data they request.
OCEAN, the protocol’s native cryptocurrency, saw a massive drop in price during the bear market of 2022. But after a major correction, OCEAN had a rebound in December thanks to its listing on Thai crypto exchange Bitkub. Ocean has also attracted the attention of many investors globally and has also been featured in leading news outlets such as BBC, New York Times and Forbes. Cypher Capital recently invested $5 million in the Ocean protocol, making OCEAN one of the best Web3 coins to buy in 2023.
(To be continued)