Published: 29 December 2022, 2:48 pm Updated: 29 Dec 2022, 2:48 pm
This year has been difficult for the blockchain industry, with price crashes and grand collapses, such as the Terra-LUNA crash and bankruptcies of crypto exchange FTX, hedge fund 3AC, and lending company Celsius. During the last days of 2022, one of the top cryptocurrencies, Solana, fell below $10, reaching an almost two-year low. While 2021 was a year full of all-time highs, 2022 was the opposite. Will 2023 bring more hope to the crypto world?
Forkast spoke to blockchain industry experts to discover blockchain trends for 2023 and the technology’s potential for the upcoming years.
Web3 adoption on a large scale could put an end to crypto winter
Experts said that traditional companies adopting Web3 have contributed to the industry’s growth. 2022 saw many web2 companies turning to web3 for innovation and new opportunities. It’s likely 2023 will bring more traditional names into the space.
“The key to the next ‘crypto summer’ will be mass adoption of Web3 elements by traditional Web2 companies. As this transition accelerates, more attention will be spent on designing interfaces and experiences that are more intuitive for the average user,”
Alex Onufriychuk, the head of growth at Corite, told Forkast.
Vlad Shavlidze, the founder and CEO of xDAO, said blockchain adoption starts with three components: simplicity, security, and applicability:
“We see a trend in this direction, as well as some ‘best practice’ inheritance from Web2 services. The ability to combine what people used to do with something new is what will define future blockchain trends.”
Slava Demchuk, the CEO of AMLBot and PureFi, believes that financial institutions could become more active in adopting DeFi protocols to provide customers with “a more attractive and trustless alternative to current financial services.”
Gaming is at the core of crypto adoption
Some sources have stated that the most advanced technology (metaverse and VR) will first become mainstream in gaming. Blockchain gaming has also been the most…