Web3's "Ten Uncertainties" in 2022 (Part 2)

"Uncertainty" is the biggest industry in crypto, and it's also what makes Web3 feel.

Since Tim Berners-Lee announced the concept of the World Wide Web in 1989, the Internet industry has gone through two turbulent periods: Web1 and Web2, and now Web3 is booming. Sitting on the shoulders of Satoshi Nakamoto and other industry pioneers, this new tool accomplishes all aspects of wealth through encryption, regulatory law and legislation through smart contracts, taxation through declarations of tokens, and can be open and transparent. The list recognizes policy design and implementation, as well as financial and cultural integration through DeFi and NFT.

Everything is beautiful and refreshing.

If the writing stopped now, the startup looked more like a sales piece for a project than a target and unfair for the popular Web3 newsletter. There is no doubt that Web3 has become a priority in 2021 and the infrastructure from wallets to public chains has received a lot of attention. ""?

This article is divided into sections and sections, and the first part of this article, "Top 10 Web3 Uncertainties in 2022 (Part 1)" (click to skip) was published on January 14th. The first half of this article focuses on the rare occurrence of Web3 anomalies, and the second half focuses on the prevalence of Web3 anomalies.

Configurability has become a priority in the world of Web3.

Obviously, composability and decentralization are two of the most unique features of Web3.

Since Satoshi Nakamoto published a free article on blockchain technology, decentralization has become a major issue for districts and deserves special attention for integration, especially gender diversity.

The descriptive study of so-called composability refers to the general ability of material in the body to be recycled into larger samples and to utilize the material derived from this structure through access to another model, and understanding the simplest is a combination of: The process of splicing different lego brick modules.

In the world of Web2, integration is very difficult to achieve.Configurability for the Web2 world like having shared Alibaba and JD.com databases, shared Google/Meta/Apple servers, or having users trade on Exchange A keep their assets on Exchange B and trade them through Exchange A Asset subtraction, all resources above are zero!

In the blockchain world, composability of an ecosystem is simple.For example, on Ethereum, you can easily do these tasks, borrow a DAI from MakerDAO, put it in Curve's DAI pool, get Curve LP tokens, and then bring your LP tokens to Convex to get exchange rates. At the same time, you can get CRV tokens and CRX tokens as a gift. Only the cost is expensive, the whole process is smooth and flowing, and no one will tell you anything. It is the most direct representation of Web3 composability.

However, the situation is different for many blockchain ecosystems. On the other hand, the cost of closed operations has reached new heights due to the continuous improvement of technologies such as Ethereum/Solana/Terra/Polkadot/Avalanche/Polygon/Cosmos/Ze. Worth $10 on TVL alone. The value of fixed jobs is $139 billion. At the same time, the number and type of applications based on different frameworks are also increasing. Today there are thousands of application channels in the top 3 lowest cost to the public.

Bridges are the key to composability in various ecosystems. The Messari 2021 report also defines this issue.Messari believes that all of these new blockchains (such as Ethereum's layer 2 rollup) need to communicate with each other, so perhaps the biggest problem with cryptocurrencies right now is the lack of bridges.If the future is more chained, the work of improving chain links, crossing, separating and joining sub-chains, and promoting valuable assets will certainly be done all over the world ( virtual).

DAOs are now an integral part of Web3.

DAO represents web independence and is an integral part of Web3.

In the Web3 world, each token has its own voting rights, and each participant receives the same rights as the affiliate, which is the simplest of DAO terms. For example, in the sentence "Full control is not the best solution", there is the possibility of a "hegemonic candidate" in the middle, but the whale presses the stop button on the application and the growth is slow. , after all, this is just an example.The DAO governance concept will also be an integral part of Web3.

You might say "Vote? Hehe".

In reality,In the world of Web3, voting and governance have long been just as important and easy to breathe.To login to the MetaMask wallet, deposit tokens and join the ENS administration, deposit the corresponding ENS tokens and attach a photo to vote and oppose the agreement.

This way you can vote in the Web3 world.

Of course, the role of the DAOs is not limited to voting; they can start fundraising for vision problems. The happiest event to date is the November 2021 DAO auction. The DAO board raised $5 million in less than 48 hours to buy a copy of the legal copy at Sotheby's auction. Although this is a complete challenge, it is a move that should be significant in the world of Web3.

There are many similar management methods. In mid-December 2021, well-known entrepreneur in the cryptocurrency community Mike Dudas teamed up with friends Jim Daily and Chris Maddern to create LinksDAO, with the goal of creating "an organization" The biggest golf of the world. “Over $10 million increase in two days in NFT sales.

Owners are the soul of Web3

In the Web2 world, if you ask Tencent, "Who has this information?"

He will answer you. This information is stored on our servers. We have a responsibility to protect your privacy. Please use it with confidence. What they don't tell you is that they are still making money off your information.

So in the world of Web3, is "no one making money off your data"? Yes and no.

In Web3, a distributed business, since there is no centralized management, no one can absorb the growth revenue unless the person has the management of all the tokens, but such a trade cannot operate normally. .In the Web3 world, the exchange of interest stems from tokens, and those who hold more tokens will benefit more from ecosystem improvements.

So the essence of Web3 membership is that token distribution allows all participants to enjoy the distribution of funds due to development and management, does not mean that data exchange is very important .

Web3 advanced in metaverse form

The Web3 world would really be the shape of the metaverse before major adoption. By 2021, purchases related to Metaverse will be booming, allowing time for the arrival of Web3.

With the launch of the Roblox sandbox game platform in March 2021, the metaverse concept exploded into a market, and the market capitalization reached $40 billion, opening up the "metaverse" market mindset. . In China, iQIYI, Kuaishou, Soul and partners from other companies have also applied for "Metaverse" registration.

Meta has also invested nearly $10 billion in its AR/VR business after acquiring VR glass maker Oculus in 2014. In its second quarter 2021 financials, Facebook said it would continue to invest $5 billion. in the annual business development in the future, and the upcoming name change is the key to all of this.

In late August 2021, ByteDance acquired VR startup Pico, the largest software and hardware R&D maker in the home VR industry, for 9 billion yuan. the company. Most companies consider virtual reality as one of the entrances to the metaverse.Just as Zuckerberg asked Oculus to get the metaverse ticket, Pico is also the metaverse ticket for ByteDance.

Microsoft suddenly announced on January 18 that it would acquire Activision Blizzard for $68.7 billion, with Microsoft spending 53% of its shares at the close, the largest in its 46-year history. take again. The acquisition is also seen as a milestone in Microsoft's metaverse ambitions.

The reason why big internet companies are coming together and getting into the sports related business is because sports is worth the metaverse and metaverse is worth it.Web3. Metaverse is not equal to Web3, and it can be considered an important alternative to Web3 led by big companies.

Ethereum, BTC expectations are low

In the end, can Ethereum outperform Bitcoin?

In October 2021, the cryptocurrency cycle remains promising for "Ethereum Returns Bitcoin", but the recent surge in public L1 chains such as Solana/Avalanche/BSC/Luna and the perception of human ways of L2 makes it is able to think of everything. . Layer 2 can be made of Ethereum like polygons, not Layer 2 of Ethereum. Expectations that Ethereum will pass BTC are dwindling.

According to Messari's report last year, "Can ETH cross BTC in this cycle? The answer is rare." Not only because Ethereum is facing serious problems, but also because the public chain is now very competitive and the market likes to create more chain links in the future. However, Messari believes that after all the public meltdown, we can work together to break down Bitcoin based on the market value of FAMGA on M1. "

It's all about Web3's "Top Ten Uncertainties" of 2022.