Many consider Web3 to be the next phase in the evolution of the internet. A buzzword used across the world, and causing commotion around Silicon Valley, but what is Web3 and why is Gate.io the perfect platform to consider Web3 tokens?
Web3 in a nutshell
As we have seen over the last decade and a half with the current Web2 ecosystem, our personal data may be used for nefarious reasons as was the case with the Cambridge Analytica scandal, which used targeted content to sway voter’s opinions during political elections. Or major data breaches of many websites across the web which has led millions of users’ data being leaked.
Many current Web2 giants fear disclosing data breaches, fearing users leaving their platforms and the negative publicity surrounding it. This is a major disadvantage of the Web2 ecosystem that many believe Web3 will solve; securing users’ data while giving users control over their digital identities.
The main objective of Web3 is that it aims to decentralize the internet and give control of data back into the hands of its users. Whether it’s social media, banking details or passwords; everything will be secured by the blockchain. This would allow enhanced security, protecting user data against data breaches, while securing the data using hashes.
Security is further enhanced by the fact that each node holds a copy of the blockchain’s ledger, which includes transactions previously performed on the network. As such, should someone with malicious intent attempt to manipulate the ledger, they would need to do so on each node, which is both highly unlikely and difficult at the same time.
Web3 tokens on Gate.io
Over the years, Gate.io has taken pride in listing up and coming projects on its exchange. The exchange already has some of the most popular Web3 tokens such as DOT, KSM and HNT listed. Gate.io also has lower cap tokens such as MIRROR, AUDIO and FLUX which all have significant growth potential. Each project that Gate.io lists is meticulously vetted by our team, ensuring only transparent projects with potential are listed on the platform.
As 2021 draws to a close, the most popular web3 projects have a total market cap of just $15 billion, a far cry from Bitcoin’s market cap of over $1 trillion. Surprisingly, just a year ago, the entire DeFi market was also valued at around $15 billion and has grown tremendously since. As such, going into 2022, many believe Web3 tokens will see the same level of growth as NFTs and the DeFi market throughout the last year.
How have Web3 tokens benefitted from Gate.io
Gate.io recognized the potential of the Web3 movement in its early days, as such the company has ensured support for projects and listed many projects during their early stages. Gate.io offered full support for parachain auctions on DOT and KSM, including vetted projects that make use of these protocols. The platform also partnered with Tron on NFT projects based on the TRC-21 and BTFS protocols.
Why choose Gate.io when investing in Web3 projects
Gate.io constantly performs research into the market, looking for up and coming projects with potential, as shown with the recent announcement of Gate Ventures, with a $100 million investment fund aiming to pursue early-stage projects in the space. Gate Ventures will provide financial resources as well as support and insight into the larger market, in addition to access to the wider Gate.io ecosystem.
