2024

DeFi

Pirate Nation

This is the second part of this article. Here is the <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/a16zcrypto-report-insights-on-states-stablecoins-and-ai-part-1/" target="_blank" rel="noopener">first part</a>. 
<h4>The 2024 a16zcrypto report has dropped, offering many fresh insights about the crypto market. From DeFi to AI as a phenomenon, it has all boiled down to many discussions.</h4> 
This review of the a16zcrypto report is friendly, making all complicated aspects understandable. 
<h5>5) DeFi’s Growing Popularity</h5> 
Another area still progressing is <a href="https://www.altcoinbuzz.io/?s=defi" target="_blank" rel="noopener">DeFi</a>. DeFi is one of the most developing segments of the crypto industry; over 34% of daily active users work in it. DeFi protocols have more than $169B+ now. The areas in which DeFi is experiencing massive growth are staking and lending. 
However, changing the consensus mechanism to <a href="https://www.altcoinbuzz.io/?s=proof+of+stake" target="_blank" rel="noopener">proof-of-stake</a> (which Ethereum did two years ago) enhanced network security. Ether stakes increased from 11% to 29%). 
<img decoding="async" class="wp-image-153472 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vxcbvbghfgfht-300x171.jpg" alt="" width="658" height="375" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vxcbvbghfgfht-300x171.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vxcbvbghfgfht.jpg 629w" sizes="(max-width: 658px) 100vw, 658px"> 
<h5>6) AI and Crypto: A Powerful Combo</h5> 
Artificial intelligence is a big deal today and is not reserved only for tech companies. According to an <a href="https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/" target="_blank" rel="noopener">a16zcrypto report</a>, 34% of crypto projects use AI in their work, compared to only 27% the year before. The connection between AI and crypto is more profound than most people think. There’s a significant overlap between people visiting AI-related websites and top crypto sites like CoinGecko. Crypto could play a huge role in tackling AI’s biggest challenge: centralization. 
AI training is costly and is only possible with the use of resources accessible by significant corporations. Nevertheless, Gensyn and Near have embarked on the development of AI computing. Crypto could also assist in democratizing AI, such as how ‘crypto’ seeks to improve the finance industry. 
<img decoding="async" class="wp-image-153473 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vcxvbcnbvcvfdfdgfdg-300x168.jpg" alt="" width="667" height="374" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vcxvbcnbvcvfdfdgfdg-300x168.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vcxvbcnbvcvfdfdgfdg.jpg 620w" sizes="(max-width: 667px) 100vw, 667px"> 
<h5>7) Scalable Infrastructure Unlocks New Possibilities</h5> 
Like other technologies, the transaction cost decreases as the blockchain networks expand in scale, thus opening up new use cases. For instance, it used to cost people a lot of money to mint their NFTs, but now people are launching cheap NFT projects on <a href="https://zora.co/" target="_blank" rel="noopener">Zora</a>. 
It also expands for new crypto projects, where around 10% are in social networking. Some websites are far less restrictive and intrusive than conventional social networks. 
<a href="https://www.altcoinbuzz.io/?s=Web3+gaming" target="_blank" rel="noopener">Web3 gaming</a> is also putting pressure on scalability. Games such as Pirate Nation report to focus on the most computing resources, a testament to the development of blockchain technology. 
<img decoding="async" class="wp-image-153474 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/cvvccvxxvcxvc-300x165.jpg" alt="" width="693" height="381" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/cvvccvxxvcxvc-300x165.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/cvvccvxxvcxvc.jpg 631w" sizes="(max-width: 693px) 100vw, 693px"> 
<h5>8) Prediction Markets Are Gaining Momentum</h5> 
Since the US elections are approaching, people are also participating in prediction markets. People bet on different events, such as elections. Even though crypto-based prediction markets are not allowed in the United States, they are trending globally. 
The non-crypto-based company, Kalshi, is in a federal lawsuit that will set a precedent on how election contracts will be. 
<img decoding="async" class="wp-image-153476 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vcxcxvcxvcxvxvcvxc-300x168.jpg" alt="" width="689" height="386" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vcxcxvcxvcxvxvcvxc-300x168.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/10/vcxcxvcxvcxvxvcvxc.jpg 621w" sizes="(max-width: 689px) 100vw, 689px"> 
<h5>The Road Ahead for Crypto</h5> 
The crypto space has registered significant gains in every aspect. Bitcoin and Ethereum ETPs are now listed, and new bipartisan crypto laws are in order. Ethereum L2 scaling solutions and other fast blockchain networks are becoming the norm, unlocking apps we couldn’t have imagined a few years ago. 
Stablecoins are only getting stronger, DeFi apps are now leading, and AI+Blockchain looks quite promising for the future of crypto. As these technologies begin to grow and perfect, more innovation will come. 
<h5>Conclusion</h5> 
Looking at the <a href="https://a16zcrypto.com/posts/article/state-of-crypto-report-2024/" target="_blank" rel="noopener">a16zcrypto report</a> for 2024, we see how the crypto world has advanced and how much more space there is to grow. From regulatory victories to the integration of artificial intelligence, crypto contrasts with reality. These are some developments now; other incredible use cases will emerge with time. 
<img decoding="async" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg"> 
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Disclaimer 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. 
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. 
Copyright Altcoin Buzz Pte Ltd. 
The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/a16zcrypto-report-2024-insights-on-states-stablecoins-and-ai-part-2/">a16zcrypto Report 2024: Insights on States, Stablecoins, and AI – Part 2</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

a16zcrypto Report 2024: Insights on States, Stablecoins, and AI – Part 2

Altcoin Buzz

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