The concept of decentralization in finance first appeared in 2008 using blockchain. However, the branches of large decentralized trees are spread over various industries. The cryptocurrency industry and Web3 are two such examples of real-world decentralized implementations.Venture capital fund a16zcrypto recently Report About various trends in the crypto industry
The 2022 State of Crypto Report describes the actual impact of cryptocurrencies. Cryptocurrencies have often been criticized for not actually affecting the real world, but this seems no longer the case.
The report further describes the process by which Layer 2 blockchain becomes the face of Web3. Web3 has some limitations at the moment, but the report states that the process is in its infancy and is still in its infancy.
The importance of Web3 at the moment …
Web3 has proven to be a more suitable and much more profitable platform for creators than Web2. The report states that Big Tech companies are “in trouble” with 100% of Meta’s take rate across Facebook and Instagram.OpenSea, a popular NFT marketplace, proves to be a creator’s paradise with a take rate of 2.5%...
Cryptocurrency landscapes also allow for global inclusion of merged classes 1.7 billion people who do not have a bank account yet..
Demand for decentralized finance and the digital dollar has also increased significantly. The total value locked to DeFi is zero In just over two years.
Currently, the total DeFi value is expected to reach $ 200 billion after the market recovers from the latest downtrend. In terms of assets under management, DeFi represents the 31st largest bank in the United States.
Source: a16z
However, the road to full development is long and difficult. According to the report, in the early commercial internet context, it’s near 1995.
The Internet reached a milestone of 1 billion users in 2005, just before the technology giant was founded. Web3 has the potential to reach 1 billion users by 2031, following the trend line. This further explains that we are in the early stages of Web3 evolution.
Source: a16z
