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Web3 Ecosystem New Trends: Social Applications, zk-SNARKs, and Bitcoin Innovations
Three Major Development Trends in the Web3 Field
Recently, the Web3 ecosystem is undergoing a series of remarkable changes. Here are three important areas worth paying attention to:
Social and Consumption Application Scenarios
Web3 is transitioning from the financial sector to the social sector. Recently emerging projects are attempting to change users' social behavior patterns through tokenization. As on-chain transactions become increasingly popular, the importance of stablecoins as a bridge between traditional finance and decentralized finance will further highlight.
At the same time, advancements in generative AI are expected to bring a more personalized and streamlined user experience to Web3. The abstract application of AI technology is likely to lower the entry barriers to Web3, making it easier for ordinary users to access blockchain data.
Zero-Knowledge Proofs Promote Modularity and Composability
Zero-knowledge proof ( ZKP ) technology is continuously maturing, including theoretical breakthroughs and the expansion of application scenarios. ZKP is becoming a universal interface that connects different levels of the modular technology stack.
Modularity means that different layers of the blockchain technology stack, such as consensus, execution, and data availability, are managed by different providers. This "plug-and-play" architecture enhances the composability of blockchains, allowing projects to customize their technical architecture based on specific needs. Furthermore, developing smart contracts using general-purpose programming languages helps to lower the barrier for Web3 developers.
New Opportunities in the Bitcoin Ecosystem
Driven by the anticipation of the 2024 halving, the Bitcoin ecosystem has regained attention. This includes the possibility of mainstream financial institutions launching Bitcoin ETFs, as well as a modular Bitcoin blockchain that supports more flexible smart contracts.
The most striking innovation is the Bitcoin digital assets based on technologies like Ordinals. This may lead to a differentiation in NFT applications: Ethereum NFTs focus on utility, while Bitcoin NFTs evolve into a unique "digital collectible," serving as a medium for art and fashion collectibles.
Overall, Web3 is迎来新的发展机遇 in social applications, technological architecture, and the Bitcoin ecosystem, among other aspects. These trends will profoundly influence the future direction of the entire industry.