[NEWS] US company a16z announces "9 things" it expects from crypto assets

On the 6th, American venture capital firm a16z (Andreessen Horowitz) published nine trends they expect to see in the cryptocurrency industry in 2024.

The following nine trends were listed in a16z's article "A few of the things we're excited about in crypto (2024)."

1. Entering a new era of decentralization
2. Resetting the UX of the future
3. The rise of modular tech stacks
4. The convergence of AI and blockchain
5. Playing to earn becomes playing and earning (P2E becomes P&E)
6. When AI becomes the game maker, crypto assets provide guarantees
7. Formal verification becomes less formal
8. NFTs become ubiquitous brand assets
9. SNARKs go mainstream

Entering a "new era" of DAO improvement and decentralization

Miles Jennings, General Counsel and Head of Decentralization, mentioned how "Machiavelli's theory" can be used to improve DAOs.

Given the efficiency and stability of centralized systems, it is difficult for decentralization to develop at scale. The DAO model is not designed for the socio-political realities of decentralized governance. However, he said that unprecedented decentralized coordination, operation functions, etc. will soon emerge, such as the emergence of DAOs that adopt Machiavelli's theory.

In addition, in the field of security, Eddy Lazzarin, CTO of a16z Crypto, said, "The birth of cryptographically generated passkeys will make signing in to websites and apps more secure," and added, "Web 3.0, which has better UX than Web 2.0, will become more mainstream."

Fusion of AI and Blockchain

Professor Andrew Hall of Stanford University and others argue that combining AI and blockchain will reduce the cost of AI and lead to democratization. In a decentralized market, anyone can contribute to the development of AI models and receive rewards, and it will surpass major technologies.

In addition, Ariana Simpson, general partner, said that "play-to-earn (P2E)" blockchain games will become commonplace. Games that allow players to earn more value by creating them will emerge, and P2E will change to "play-to-earn (P&E)."

In addition, investment partner Carra Wu said, "As AI creates games, we need to guarantee that the gaming industry will not collapse and will be neutral," and mentioned, "We need guarantees in the event that problems occur with AI."

In addition, research engineering partner Daniel Reynaud argued that in cryptocurrency projects, smart contract developers are making it easier to perform formal verification to check the security of programs.

Research partner Scott Duke Kominers said, "NFTs will become ubiquitous brand assets," and said that in 2024, the conditions will be in place for NFTs to become widespread as digital brand assets in various companies and communities.

In addition, a16z investment engineer Sam Ragsdale argues that SNARK (Succinct Non-interactive ARguments of Knowledge) will become mainstream as an encryption technology.

SNARK is an encryption technology related to computational efficiency. In recent years, SNARKs have become easier to use, and they may be able to solve future blockchain issues related to cost and scalability.

Reference:Announcement
Image: Shutterstock

Related articles

CoinGecko releases survey results revealing that 75% of Web 3.0 games fail

Binance releases report revealing 8.6% fall in cryptocurrency market capitalization from the previous quarter