The Three Major Directions for Future Development in the Web3 Field

Recently, the development trends in the Web3 industry have attracted widespread attention. As a professional in the industry, I believe that the following three areas will become key focus areas for the development of Web3 in the near future.

1. Social and Consumer Applications

Web3 is shifting from the financial sector to the social sector. Recently, on-chain social elements have gained attention, with various projects attempting to change user social behavior patterns through tokenization. As users increasingly engage in transaction activities on the blockchain, stablecoins will continue to rise in importance as a bridge between traditional finance and decentralized finance.

At the same time, advancements in generative artificial intelligence are expected to bring about a more personalized and streamlined user experience. The widespread adoption of AI technology may lower the barriers to using Web3, making it easier for users without a technical background to access and understand blockchain data, thereby promoting the popularization of Web3.

2. Modularization and Composability Based on Zero-Knowledge Proofs

Zero-Knowledge Proof (ZKP) technology will continue to mature and develop, whether through breakthroughs in theoretical research or through specialization in specific application areas. We are beginning to view ZKP as an effective tool for building universal interfaces between different levels of the modular technology stack.

Modularity means that different aspects of the blockchain technology stack (such as consensus, execution, data availability, etc.) are managed by different providers. This approach allows the blockchain architecture to be built in a modular way, similar to building blocks, enabling projects to customize their tech stack according to specific needs. Additionally, using general-purpose languages like Rust to enhance the composability of smart contracts can improve developers' familiarity, thereby lowering the barrier to entry for Web3 development.

3. Bitcoin Ecosystem

As the Bitcoin halving event in 2024 approaches, the Bitcoin ecosystem has once again attracted market attention. This includes the possibility of traditional financial institutions launching Bitcoin ETFs and the development of a modular Bitcoin blockchain that supports more composable smart contracts.

It is particularly noteworthy that the rise of Bitcoin digital assets based on technologies like Ordinals. This could lead to a differentiation in the NFT market: NFTs on Ethereum may focus on utility, while NFTs on Bitcoin may evolve into a form of digital jewelry or art, fashion collectibles due to their unique cultural significance.

With the continuous development of these fields, we can foresee that the Web3 industry will welcome more innovations and breakthroughs, providing users with a richer and more convenient blockchain application experience.