Many feel that my assertion that Web3 will take place quicker than many picture to be a bit misguided. Here is where we need to look at how exponential development takes place.
In this vidoe I relate the growth of DeFi platforms and what we saw in two years. There is no reason with the right applications we could not see the same thing duplicated with Web3.
▶️ 3Speak
Defi and web 3.0 had took would by suprise
Well considering how fast cryptocurrency has snuck up on the world, people believing that change can and will continue to be slow are severely misguided.
The right platforms are key but also the right marketing needs to be in place. You could build something amazing but if no one knows about it what's the point. Hive itself is still a little ecosystem we see a ton of traction on Splinterlands but still few that really interact and understand the hive blockchain. Huge amount of growth still to be had and it's for sure going to take effort from all of us.
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The central banks have propped up the system long enough for the foundation of DeFi & Web 3.0 to be laid. When the system finally buckles under its own weight, the adoption of crypto will enter the parabolic phase, as it will finally serve a purpose for the masses.
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Check out the last post from @hivebuzz:
Looking forward to more articles on this topic!
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Same will probably play out for metaverses...
Regarding to Hive and what's developed on Hive, knowing that Leofinance is about to launch the mobile version, I've noticed new investors/curators. @singhcapital is one large player on Hive, but just today he powered up over 100,000 LEO.
Development is indeed feeding exponential growth and Leofinance is proof of that. Projects that work and have real life used case gain traction and attention.
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Summary:
In this video, Task talks about the potential rapid growth and development of Web 3.0 and the crypto blockchain industry. He emphasizes the concept of accelerating development, comparing it to compounding in finance. Task discusses how the blockchain industry has seen rapid growth and innovation, particularly in the DeFi sector. He speculates on the potential for significant growth in the total value locked (TVL) in DeFi over the next few years, citing factors like interest, market conditions, and new inflows of capital. Additionally, Task touches on the challenges and opportunities in the Web3 space, highlighting the need for user-friendly applications in social media and tokenization. He indicates his optimism for the future of development in the blockchain industry, suggesting that significant progress may happen sooner than some expect.
Detailed Article:
Task's video delves into the rapid evolution of Web 3.0 and the crypto blockchain industry, drawing parallels between development acceleration and compounding growth in finance. He stresses the importance of understanding how technological development, especially within open source environments, can progress exponentially.
The discussion then shifts to the DeFi space, where Task highlights the rapid expansion and innovation observed, particularly through the forking of the Ethereum virtual machine and the subsequent rise of various DeFi platforms. He notes the significant growth in the total value locked on different chains beyond Ethereum and speculates on the potential for further growth in the sector. Task mentions the possibility of the total value locked in DeFi reaching trillions of dollars in the near future, showcasing his optimism for the industry's growth trajectory.
Task also addresses the challenges and opportunities present in the Web3 space, specifically focusing on the potential for explosive growth in social media and tokenization. He outlines the current limitations in user-friendly applications for social media and mentions upcoming projects like Speak Network that could potentially drive further adoption and innovation in the space.
Moreover, Task discusses the importance of overcoming challenges such as high transaction fees to facilitate broader adoption and development in Web3. He highlights the significance of leveraging open-source code and forking existing technologies to drive continuous expansion and improvement in the blockchain industry.
In conclusion, Task expresses his positive outlook on the future of the crypto blockchain industry, hinting at significant advancements and growth that may occur in the coming years, challenging the perception that substantial progress will take an extended period to materialize.