As 2023 draws to a close, companies and higher authorities are actively involved in predicting the crypto industry revolution for the coming year, 2024. According to reports from local Chinese media, Dr. Xiao Feng, Chairman of HashKey Group, reminisces on the first principles of blockchain and presents his predictions for the top ten industry trends in 2024.
1. Ethereum continues to dominate Feng cited Ethereum's unrivaled position as a guide to blockchain innovation, highlighting that no competitor can match its influence in 2024.
2. Development of Layer 2 blockchain technology Layer 2 Blockchain technology has reached maturity, supporting a surge of applications with specific use cases and tangible real-world value.
3. The Rise of Cryptoeconomics Cryptoeconomics is taking center stage in classrooms, showcasing token economic models that contribute to the real economy and drive technological innovation.
4. Bitcoin's ecological development Dr Feng highlights the importance of adhering to Bitcoin's basic principles for success. He highlighted the potential of the Lightning Network's legal currency stablecoin clearing and payment system.
5. AI and web3 collaboration The integration of artificial intelligence with web3 creates a powerful collaboration network. Blockchain facilitates algorithms, computing power, and calculations for AGI's vast and limitless intellectual property.
6. Developer-driven blockchain network Contrary to the consumer-driven model, Dr. Feng advocates for developer-driven blockchain networks, predicting that large networks will be defined by developer competition.
7. Understand the logic behind Bitcoin's surge. Bitcoin's surge was caused by the efforts of developed countries in Europe and the United States battling inflation amidst geopolitical turmoil, with other factors having little impact.
8. The global rise of digital nomads The digital nomad revolution is about to happen, as countries compete to launch “digital nomad visas” in the race to become a global center of scientific and technological innovation.
9. DePIN will blur the real world and the virtual world. Feng introduced DePIN, a concept that connects off-chain and on-chain elements, blurring the boundaries between the real world and the virtual world.
10. The emergence of distributed business application models Blockchain transitions from infrastructure development to commercial applications at the L3 and L4 layers, with 2024 marking a convergence between reality and the virtual world. Dr. Xiao Feng expects a transformative year for blockchain, where the boundaries between the real world and the virtual world will become indistinguishable, paving the way for a tremendous rise in technology and global innovation.
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