Outlook on the Top 10 Trends in the Blockchain Industry for 2024

In the upcoming year of 2024, starting from the fundamental principles of Blockchain, we can foresee some important industry development trends. The core of Blockchain lies in providing a public, transparent global ledger system. The evolution of this accounting method reflects the transformation of the socio-economic landscape: from the single-entry accounting of the Sumerians on clay tablets around 3500 BC, to double-entry accounting in the Mediterranean city-states of northern Italy in the 13th century, and then to distributed accounting in the digital world in 2009.

Based on this fundamental principle, the blockchain industry in 2024 may present the following top ten trends:

1. Ethereum will continue to lead Blockchain technology innovation, maintaining its unmatched leading position.

2. The Layer 2 (L2) technology of Blockchain will mature, providing support for applications with practical scenarios and real value, and is expected to trigger a large-scale outbreak of applications.

3. Cryptoeconomics will become an important discipline. Token economic models will demonstrate significant practical value in supporting the real economy and technological innovation.

4. The Bitcoin ecosystem will continue to evolve, but the key to success lies in adhering to the fundamental characteristics of Bitcoin. Notably, attention should be paid to the fiat-pegged stablecoin payment settlement system within the Lightning Network.

5. Artificial Intelligence and Web3 will achieve seamless integration. Blockchain technology will be used to establish a large-scale collaborative network of algorithms, computing power, and data, while distributed ledger technology will be used to manage and trade a large amount of cross-border AGI intellectual property.

6. The development of Blockchain will be primarily driven by developers, rather than consumers. The focus of competition among major Blockchain networks will be to attract developers.

7. The recent rise in Bitcoin prices is mainly driven by safe-haven demand under inflation resistance in developed economies and geopolitical instability, while other factors have a relatively small impact.

8. The world will witness a wave of digital nomads, with countries vying to introduce "digital nomad visas". At the forefront of the competition among global technology innovation centers, attracting digital nomads will become crucial.

9. Decentralized Physical Infrastructure Networks (DePIN) will become an important bridge connecting the real world with the virtual world, and off-chain with on-chain.

10. Business application models based on distributed ledger technology will emerge in the three layers (L3) and four layers (L4) of Blockchain.

In 2024, distributed ledger technology will transition from the infrastructure construction phase to the commercial application implementation phase. We will witness the transformation of the real world into the virtual world, as well as the deep integration of the virtual and the real.