Crypto has always had an image problem, something that escalated after a brutal 2022.
of the Merge shifting from Proof of Work to Proof of Stake saw its energy consumption slash by 99%. To top that, several, several OP layer 2s are scaling the network.
. The design will essentially pave the way for a vastly cheaper and quicker execution which will ensure that layer 2 networks can thrive.In recent years, the DeFi and Web3 space has seen a flurry of financial enthusiast forays. The COVID pandemic spurred tens of millions of gamers and gamblers into the GameFi and Play 2 Earn projects and this trend seems to intensify.
Meanwhile, storage and retrieval of both public and private keys have been the Achilles Heel of Web3 security. But wallet developers are now seeing big investments to enhance the experience and usability.Heavy deleveraging pressures inflicted in the second half of 2022 sparked the collapses of several prominent crypto companies. The total value locked in DeFi took a severe beating and declined by over 76%. The failures are expected to set the stage for “grander innovations ahead.
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