.@a16z released their annual #crypto report.
I've read the 56 slides so you don't have to. π
A summary of the actual use cases, trends, and what's next. π§Ά 1/n
I've read the 56 slides so you don't have to. π
A summary of the actual use cases, trends, and what's next. π§Ά 1/n
A) Actual use cases
A common criticism of #web3 is the lack of actual use cases. Let's see if that's true. 2/n
A common criticism of #web3 is the lack of actual use cases. Let's see if that's true. 2/n
#Crypto has increased the financial freedom of the average consumer.
This applies for both poorer and richer nations.
Time to check some numbers. 3/n
This applies for both poorer and richer nations.
Time to check some numbers. 3/n
- 1.7B people are unbanked.
- Out of this 1.7B:
- 1B have mobile phones.
- 480 million have internet.
#DeFi has bypassed legacy institutions and built financial rails for them. 4/n
- Out of this 1.7B:
- 1B have mobile phones.
- 480 million have internet.
#DeFi has bypassed legacy institutions and built financial rails for them. 4/n
- Freedom of transaction.
Think about the ease of sending #USDC. Almost instantaneous with extremely low fees.
- Access to financial products.
Anyone with internet can participate in lending protocols to earn interest.
People become capitalist, not just labor. 5/n
Think about the ease of sending #USDC. Almost instantaneous with extremely low fees.
- Access to financial products.
Anyone with internet can participate in lending protocols to earn interest.
People become capitalist, not just labor. 5/n
#NFT has created a new digital economy.
This allows creative work to be much more sustainable.
The average amount earned by creators on @opensea is ~270x of @Spotify. Not a typo. π 6/n
This allows creative work to be much more sustainable.
The average amount earned by creators on @opensea is ~270x of @Spotify. Not a typo. π 6/n
B) Trends
The most important trend in #crypto- alt #L1 vs #L2 scaling.
Your blockchain is your π. Pick the right tech for each terrain. Also, different blockchains prioritise different features- security, reliability or speed.
Different use cases will need different tech.7/n
The most important trend in #crypto- alt #L1 vs #L2 scaling.
Your blockchain is your π. Pick the right tech for each terrain. Also, different blockchains prioritise different features- security, reliability or speed.
Different use cases will need different tech.7/n
Alt #L1: @solana, @avalancheavax, @FantomFDN are attracting more developers.
This means better/more products, which in turn attracts more users. A virtuous cycle. 8/n
This means better/more products, which in turn attracts more users. A virtuous cycle. 8/n
#L2 scaling on @ethereum.
2 main technology:
1. Optimistic rollups: Assume valid transaction unless proven wrong.
2. Zero-Knowledge rollups: Fancy math to prove validity off-chain.
While optimistic rollups have a head start, zk rollups are gathering steam. 9/n
2 main technology:
1. Optimistic rollups: Assume valid transaction unless proven wrong.
2. Zero-Knowledge rollups: Fancy math to prove validity off-chain.
While optimistic rollups have a head start, zk rollups are gathering steam. 9/n
C) What's next?
The most exciting technology to me is #DAO- coordinating offline behavior via online tools.
Some may find current DAOs like @ConstitutionDAO silly (for the clout!), but possibilities are endless. 10/n
The most exciting technology to me is #DAO- coordinating offline behavior via online tools.
Some may find current DAOs like @ConstitutionDAO silly (for the clout!), but possibilities are endless. 10/n
Applications I want to see:
1. Coordinating funds that may be otherwise hard to get. Especially valuable for scientific research/philanthropy.
2. Creation of cloud cities (@balajis). 11/n
1. Coordinating funds that may be otherwise hard to get. Especially valuable for scientific research/philanthropy.
2. Creation of cloud cities (@balajis). 11/n
Conclusion
In this bear market, we may be frozen with uncertainty. But the best path forward is to build valuable products.
Value -> not amount of funds raised/media coverage, but how much it improves your users' daily life.
So get building! π 12/n
In this bear market, we may be frozen with uncertainty. But the best path forward is to build valuable products.
Value -> not amount of funds raised/media coverage, but how much it improves your users' daily life.
So get building! π 12/n
If you've enjoyed this thread, follow me as I educate #crypto without the nerd-speak. π
Give this thread a retweet and like so that it can reach more people as well. Cheers! π» 13/end
Give this thread a retweet and like so that it can reach more people as well. Cheers! π» 13/end
2/3: @DarenMatsuoka and @rhhackett for putting it together.
3/3: @eddylazzarin summarising in his thread. You'll notice that we framed the same information differently. π
https://twitter.com/eddylazzarin/status/1526525857551880192
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