Privacy and Decentralization in Web3: 3 Projects to Watch
In the world of Web3, privacy and decentralization are making a big comeback. If you’re just starting to explore this space, welcome! We need you to help keep Web3 from becoming another version of Web 2.0. Privacy matters, and everyone should have the ability to transact freely, regardless of political affiliations. In this article, we’ll introduce you to three projects that embody the crypto narrative of privacy and decentralization.
tomi: Building an Ambitious Decentralized Internet
The first project we want to highlight is tomi, which aims to create an entirely decentralized internet. Unlike other projects that focus on specific apps or ecosystems, tomi has a grand vision of revolutionizing the entire network. They use encrypted servers instead of relying on centralized services like Amazon Web Services, ensuring privacy and decentralization are at the core of their operations.
tomi utilizes the Ethereum blockchain and its tomiPay wallet supports various chains, including Bitcoin, Cardano, Solana, and more. Their goal is to enable fast, cheap, scalable, and censorship-resistant transactions. Additionally, tomi is working on decentralizing the domain registration process by allowing users to mint their own domains through an auction system.
Oasis Protocol: Enhancing Privacy with Confidential Smart Contracts
Oasis Protocol takes a different approach to privacy by offering confidential smart contracts. When you transact with someone or another app on their Layer 1 chain, your interactions remain private. Oasis also provides the Oasis Privacy Layer (OPL), a plug-and-play solution that developers can integrate into their EVM-based dApps to enhance privacy. This solution is particularly significant for the EVM ecosystem, which is one of the largest in the industry.
Aleph Zero: Competing with Solana and Offering Seamless App Integration
Aleph Zero is a privacy-focused project that aims to compete with Solana. They recently launched an ecosystem fund of $50 million to support their growth. Aleph Zero offers an on-chain domain name and ID service called AZERO.ID, which allows users to register domains and use them as IDs to interact with other AZERO apps. They have also integrated with Ledger wallets for smooth transactions.
Despite these promising features, Aleph Zero’s token has experienced a decline in value. However, this is likely due to overall market conditions rather than the project’s fundamentals.
Hot Take: The Importance of Privacy and Decentralization in Web3
Privacy and decentralization are crucial for the success of Web3. Projects like tomi, Oasis Protocol, and Aleph Zero are leading the way in bringing these principles to life. By prioritizing privacy and offering innovative solutions, they are shaping a future where individuals have control over their data and can transact freely without censorship or surveillance.
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