Think Web 3.0 is the next Internet revolution? Look at these 3 actions – December 31, 2021

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After the popularity of the metaverse, Web 3.0 is the new buzzword that is invading the Internet world. Also known as the Decentralized Web, Web 3.0 is the third version of the Internet, which is an improvement over the current Web 2.0 Internet.

Under Web 2.0, the Internet has become more social. At this point, internet users were encouraged to connect with each other through social networking services and blogs, which has led to the creation of massive volumes of data and content.

However, this data and content is largely controlled by a small group of tech giants including Amazon, Apple, Meta, Microsoft, and Google in the current stage of Web 2.0. This creates privacy concerns and users may feel that they have lost their freedom over their personal, business or financial data because one must agree to all of the terms and conditions for using the internet services offered by these companies.

Additionally, social media sites have set stricter standards for what types of content or posts will be accepted on their platforms. This created a controversy over freedom of expression.

Web 3.0 should help overcome this problem, as it should be a decentralized version of the Internet where people have control over their data. The third version of the Internet will be more transparent and will offer massive content accessible to all.

In addition, Web 3.0 is said to be more user specific, which will ensure data security and privacy while avoiding the risk of internet hacking.

Ride with the Web 3.0 trend

Web 2.0 has made several billionaires, including Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, and Twitter’s Jack Patrick Dorsey. In addition, the success of Web 2.0 companies has given investors the opportunity to earn a lot of money through equity investments.

However, if you missed the take off of Web 2.0, Web 3.0 might be a chance to catch up. Currently, companies that operate on the Web 3.0 model are mostly private startups. These companies are working on the development of financial and social media platforms. Some companies are developing payment platforms while there are those that are building games on 3.0 business models.

However, there are several publicly traded companies that can give you Web 3.0 exposure. To gain exposure in this space, investors should seek out stocks with activities related to blockchain technology.

Blockchain technology behind Web 3.0

Web 3.0 is built on blockchain technology.

Blockchain is a distributed electronic ledger. Distributed ledgers provide a digital record (like ownership of assets) that is maintained without central authority. It is relatively faster to close a transaction because the need for manual processing and authentication by intermediaries is eliminated as it deploys distributed consensus.

Additionally, since the blockchain uses distributed consensus, it is not easy to change system data without alerting the entire network. This makes the system extremely secure.

It should be noted that blockchain is the technology behind many major cryptocurrencies and also non-fungible tokens (“NFT”).

Therefore, based on blockchain technology, Web 3.0 has the potential to revolutionize the internet world. The concept promises to provide peer-to-peer internet services without a single authority, giving users greater control over their data.

On that note, here we discuss three blockchain technologies providing actions that people can see as having exposure in the future of the web.

Three actions that give exposure to Web 3.0

Microsoft (MSFT Free Report): His efforts with blockchain technology are remarkable. The company’s Azure Blockchain service is a fully managed ledger service that supports Ethereum Quorum ledger using the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism.

Last year, Microsoft and Ernst & Young LLP announced the extension of their blockchain-based solution for the management of playing rights and royalties.

Additionally, in March 2021, Microsoft’s Decentralized Identity team launched the ION Decentralized Identifier (DID) network on the Bitcoin mainnet. The network uses Bitcoin’s blockchain to create digital identifiers to authenticate identity online.

Microsoft carries a Zacks Rank # 2 (Buy). You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

Zacks’ consensus estimate for the company’s earnings for fiscal 2022 has been revised up a dime in 30 days to $ 9.13 per share. MSFT stock is up 52.5% year-to-date (YTD).

Image source: Zacks Investment Research

NVIDIA Corporation (NVDA Free Report): It offers solutions for next-generation technology, including artificial intelligence, Internet of Things, cloud computing, and deep machine learning. NVIDIA’s advanced graphics processing units (GPUs) and chips are essential for running highly complex algorithms and increasing the computing power that are essential to the functioning of blockchain technology.

This Zacks Rank # 2 company enjoys high demand for cryptocurrency mining. NVIDIA has launched Cryptocurrency Mining Processor (CMP), a line of products for professional mining. CMPs allow improved airflow during mining and also have lower peak voltage and frequency, which improves energy efficiency in mining. NVIDIA has generated $ 526 million in revenue from the product line since its availability.

Zacks’ consensus estimate for its earnings for fiscal 2022 is $ 4.33 per share, having moved 4.6% north in the past 60 days. NVDA shares have gained 126.6% year-to-date.

Zacks investment researchImage source: Zacks Investment Research

Intel company (INTC Free Report): The company is continuously working on providing core technology that can activate and improve blockchain solutions. With its Sawtooth blockchain platform, Intel offers data protection, access to information from open sources, and a ledger that is virtually impossible to hack, creating efficient and reliable environments for businesses.

Intel wears a Zacks Rank # 3 (Hold). Zacks’ consensus estimate for company earnings in 2021 has been revised up 10.2% in 90 days to $ 5.28 per share. INTC stock has gained 3.8% year-to-date.

Zacks investment researchImage source: Zacks Investment Research

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