Stablecoins, another kind of altcoin, have value that’s tied to an outside asset like gold or the U.S. dollar. Then there are meme coins, which serve little purpose, but skyrocket in popularity because people think they’re funny or cute.
“People love to gamble, so as long the market is hot, I think there will always be a place for that,” Daniel Polotsky, founder and chief advisor of Bitcoin ATM company CoinFlip, says of meme coins.
There are more than 15,000 cryptos in circulation, according to CoinMarketCap, and more are being developed every day.
Explaining what Web 3.0 is is hard, because the definition is being worked and reworked in real-time. But since people can’t stop talking about it, here goes nothing.
The general idea is that Web 3.0 is a version of the internet where people have ownership over their digital property, and control over their data, without having to go through middlemen like Facebook and Google.
First there was Web 1.0, which was the original version of the internet with static sites (remember GeoCities?). Then Web 2.0 emerged, with the entrance of Amazon, Twitter and all those other sites that came on board to make the internet more user-friendly. Web 3.0 is about taking back some of the power from those tech behemoths.