In emerging economies, the employment sector could undergo structural change. Once value transfers are seamless across different crypto-universes, this could spur a new wave of adoption, and the NFT and blockchain-based gaming economy, in particular, could receive a further boost. It remains exciting to wait for the dawn of the multi-chain world. However, this is diametrically opposed to the philosophy of Web3, which focuses on individuals with clearly defined property rights and freedom of action with the help of blockchain technologies. It can be assumed that these internet giants will develop a largely centralized, partly closed system, so that value transfers to other digital ecosystems will be made more difficult or even impossible. Microsoft and Facebook have announced that they are setting up their own approaches to digital worlds, i.e., "metaverses". Especially in the Philippines, Axie Infinity, developed by Sky Mavis, has become a source of income for many. The year 2021 represented a turning point in "GameFi" with Axie Infinity and the launch of the Ronin sidechain, which enabled the throughput necessary to allow one million active players to participate in the Axie Infinity universe in August 2021. These digital economies are hard to imagine without NFTs and blockchain-based infrastructures. The Metaverse is a virtual platform on which people can collaborate and trade economically. NFTs and blockchain-based gaming become a source of income Cryptocurrencies are particularly important in this context because they can provide a sustainable incentive system that encourages network users to provide the required infrastructure over the long term. From decentralized data storage via blockchains such as Arweave or Filecoin, decentralized wireless networks such as the Helium network, tokenized platforms, and projects where all decisions are made by the community, to completely new ways of identity management - Web3 offers a wide range of possibilities. Web3, on the other hand, is based on the idea of putting the users of the internet back in control of data and infrastructure. At its core, it is about reducing dependency on large "big tech" networks and IT service providers, such as cloud or internet providers, as they often handle the collected data in a non-transparent manner, represent a "single point of failure" and can operate a partly arbitrary product and pricing policy due to an oligopolistic market environment. Web3 represents a novel approach to potentially delivering internet architecture in a decentralized and autonomous way using blockchain technology. Web3 infrastructure paves the way for the decentralization of the internet Mining companies are increasingly tapping renewable energy sources, such as geothermal or solar energy, because of the cost structures such energy sources offer. Not only have mining companies pulled out of China after the crackdown on the country's mining industry. Overall, the energy mix used for blockchain network operations is becoming increasingly green. Also, the increasing number of wallet addresses, for example, measured by monthly active users of the MetaMask wallet (10 million active monthly users currently), indicate that demand for crypto investment opportunities will continue: DeFi offers double-digit interest rates through liquidity provision, lending, and staking, whereas banks in developed countries quite often offer less than 2% on savings. For example, the MSCI World Index is only 17% higher than it was at the beginning of 2021, and the gold price trend is currently negative. Nevertheless, it is fair to contrast the price performance of cryptocurrencies with those of well-known market indices. Of course, investments in the crypto asset market are riskier than traditional investment opportunities, partly due to higher price volatility. It is noticeable that many native cryptocurrencies from alternative Layer-1 blockchain protocols (Alt-L1s), which are traded as potential Ethereum killers (such as Solana, Binance Smart Chain, Cardano, Polkadot, Avalanche), are among the top 20. Since the beginning of 2021, the USD prices of the largest 20 cryptocurrencies listed on CoinMarketCap by market cap have increased by triple digits. But the overall crypto asset market will also grow.
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