Top 5 Blockchain and Web 3.0 Trends in 2021

2021 is an important year for the global blockchain and Web 3.0 ecosystem, and many changes in the virtual space, crypto, NFT, and other industries have been unveiled this year. The top 5 points of the blockchain space in 2021 are:

The market value of all crypto assets topped $ 3 trillion for the first time, and the Total Fixed Value (TVL) of Financial Services (DeFi) reached $ 100 billion. The world is crazy about NFT.

In 2021, innovators working on Web 3.0 (which develops decentralized applications powered by blockchain) are also aggressively expanding existing blockchains. Businesses always want to join the Web 3.0 revolution.

The top 5 points of blockchain in 2021 are:

metagalaxia

In October 2021, Facebook CEO Mark Zuckerberg announced plans to change the company's name to Meta and announced plans to create a meta world.

Simply put, the metamonde is an online 3D universe that connects multiple virtual entities. This 3D world allows users around the world to meet, chat, work and play together.

Because it opens up and adheres to Web 3.0, a metaverse-like platform is needed to transform into a digital business with a wide range of electronic devices and components. As a result, Facebook rebranding has brought innovation and practicality to technologies such as AR, VR, blockchain, cryptocurrencies, and NFT.

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Cryptocurrencies peaked in 2021 when Elon Musk, Jack Dorsey, Mark Cuban, and other international leaders began supporting them at public conferences.

As cryptocurrencies gain more and more attention, they have recently become one of the most popular investment options.

To keep up with this moment, Bitcoin (BTC), ETHereum (ETH) and a few other cryptocurrencies have all risen recently this year.

In fact, according to a recent report by blockchain data platform Chainalysis, global cryptocurrency usage has grown by over 880% in the past year. In addition, the market capitalization of the cryptocurrency market also hit the $ 3 trillion mark for the first time.

Cryptocurrency has become a hot topic as the major financial firms have paid for this new exchange.

Even in India, city officials are looking to better understand cryptocurrencies, interpret and oversee cryptocurrencies. In the next bill, the Indian government turned to Indian cryptocurrency exchanges to clarify the regulations in this area.

Cash flow with Web 3.0

The rapid development and innovation of Web 3.0 has not been ignored. Entrepreneurs of all sizes are raising more money to invest in this space in 2021, in hopes of being part of the Web 3.0 revolution.

Last year, US venture capital firm Paradigm and Andreesen Horowitz created cryptocurrency investments worth $ 2.5 billion and $ 2.2 billion, respectively, to invest in web companies. 3.0.

In fact, according to Pitchbook data, since late November 2021, venture capitalists have invested $ 27 billion in global cryptocurrency companies, more than in any previous year.

In addition, according to the “2021 Global Entrepreneurship Ecosystem Report” (GSER), blockchain technology has grown 121% in the A-cycle industry over the past five years, making it the second largest sub-industry in the world. world.

In India, the CoinDCX and CoinSwitch Kuber cryptocurrency exchanges became unicorns in 2021 with revenues of between $ 90 million and $ 260 million respectively.

Blockchain expansion and infrastructure

The long-awaited Ethereum 2.0 update will be fully unveiled in 2021 as the integration process integrates into more scalable and energy-efficient blockchains.

An important phase called the development of the Altair Beacon chain will take place at the end of 2021. The blockchain is preparing for “integration” in the future. Ethereum is a Proof of Stake (PoS) Internet Proof of Work (Pow) blockchain.

In addition to Ethereum, there is a lot of work to be done to expand the blockchain infrastructure this year.

Polygon, the most popular Ethereum scale-up project, has invested $ 1 billion in its Zero Knowledge (ZK) project. The ZK project is an extension that runs channel counting and sends them to the channel via proof of use.

In 2021, Polygon will participate in and / or acquire ZK operations and teams to develop ZK centric projects including Polygon Hermez, Polygon Miden, Polygon Zero and more.

The NFT film

Digital artist 2021 Beeple (Mike Winkelmann) is selling NFTs for $ 69 million, sweeping the world, opening the door for more artists, musicians, performers and end users to sell more NFTs.

Stars like Eminem, Grimes, Paris Hilton and Lindsay Lohan attended.

In fact, some of these digital devices in photos, videos, etc. have been exchanged for hundreds, thousands or millions of dollars. NFTs are also looking for cross-border applications such as games, digital identity applications, licensing and certifications, digital art, etc.

According to a Cointelegraph study, people will spend more than $ 9 billion on NFT in 2021, and some estimates show that by the end of the year, total NFT industry revenues could increase to 17. $ 7 billion.

Some countries are starting to join cryptocurrencies.

As more businesses accept cryptocurrency, countries are starting to pay more for cryptocurrencies.

Of course, we can't miss one of the biggest novelties of the year: El Salvador and the adoption of Bitcoin.

In September of this year, the government of El Salvador announced that it had acquired Bitcoin as its national currency, and the news spread around the world, making El Salvador the first country to use Bitcoin.

Requirements are subdivided in this function. On the other hand, shopping with Bitcoin on a daily basis is risky because the value of Bitcoin is much more volatile than modern fiat money.

Meanwhile, you can see how Bitcoin can be used as a means of payment and national currency.

Development of central bank digital currency

Regarding the national currency, the CBDC should also be mentioned. CBDC is a blockchain-based digital currency developed by the central bank.

The main CBDC projects include the Ubin project in Singapore and the Digital Euro project in Europe.