Cryptocurrencies are having a moment. Blockchain-based digital currencies seem unavoidable these days, from Elon Musk's tweets, cryptic Super Bowl advertisements and the newly rebranded Crypto.com Arena in Los Angeles.
This momentum appears to be propelling people toward Web3, an internet ecosystem based on blockchain, crypto wallets, non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs). And, as we move forward, it is critical to identify the cryptocurrencies that can play a significant role in fostering Web3.
Cardano (ADA)
Cardano, dubbed a "rival" to Ethereum, has quickly risen from the ashes to become one of the market's largest cryptocurrencies.
Cardano is a Web 3.0 network with a blockchain-powered ecosystem that allows users to interact without relying on centralized data repositories.
Cardano is based on the Ouroboros blockchain protocol, which is completely decentralized and open source. There is no central database on the Cardano network because the information is stored in multiple locations.
Users can access the information whenever they want. Another advantage that Cardano users have is data ownership. Individuals have complete control over their data and can send it across the blockchain at any time.
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Gnox (GNOX)
Considered to be the next face of Web3, Gnox is the next evolution of the Binance Smart Chain (BSC) reflection token. It is the first self-acquiring reflection token to maximize investors’ earnings now and in the future.
Their goal is to make you a digital bank. Once their contract has been launched, they will not have a central entity, no human intervention, and no overheads.
Gnox is the first DeFi earning protocol to provide all types of investors with "Yield Farming as a Service." They work hard to make it as easy and smooth as possible for DeFi users to earn passive income to support their stable growth.
Because of its unique DeFi treasury, which allows investors to get a bigger reward from other protocols, Gnox has one of the reflection projects with the fastest-growing communities.
Gnox thinks that long-term holders and users should be rewarded with a stream of passive income equal to the treasury's income over time.
The Gnox advantage becomes obvious when they use their method across numerous pools, delivering up to 50% APR while existing traditional banks average less than 2%.
The majority of Gnox's stable coins, DeFi LP tokens, and NFTs will be kept in the treasury, which is a multi-signature-protected vault.
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Conclusion
Blockchain technology has been gaining a lot of traction in recent years. While the majority of the world's population is attempting to develop new ways to invest in cryptocurrencies and blockchain, Web 3.0 is on the horizon.
Web 3.0 is a new internet hybrid that aspires to be a decentralized version of the virtual world. It aims for transparency, so users will see a lot of content that is open to all.
Cardano and Gnox are expected to win the Web 3.0 race in 2022.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Website: https://gnox.io
