The Breakdown The Future of Web3 is Functionality
Jun 17, 2024
Exploring the importance of proof of reserves in the crypto sector, the rise of cryptocurrencies and innovative financial products, decentralized infrastructure empowering entrepreneurs in Web 3, and the significance of functional projects and open architecture in Web3 development.
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Demand Proof of Reserves
- Demand proof of reserves in crypto.
- This attestation is a key capability of crypto and should be standard practice.
Web3 Needs Function over Flash
- Web3 needs functional decentralized infrastructure, not flashy interfaces.
- This empowers entrepreneurs to build diverse applications and fosters a healthier internet.
Web3 and Network Effects
- Web3 social networks fail because incentives alone don't overcome initial lack of network effects.
- New, compelling user experiences combined with Web3 infrastructure are key for mainstream adoption.