Expansion Continues
WEB3 is an innovation that will continue to expand and realize increasing adoption. All DeFi platforms and opportunities are WEB3-based, which is why WEB3 is destined for greatness and widespread adoption. As the current bull market matures, more WEB3 projects are born and coming to light. SocialFi looks as if it could produce a handful of up-and-coming projects.
The Arena is set to launch its ARENA token, Kaichi is in the formative stages of onboarding new users, and SocialFi projects, in general, are beginning to shine. As I mentioned 12 days ago, the bottom is in. I am confident that altcoins are on the verge of a fresh Altcoin Season. HIVE has made a great recovery and traded as high as $0.24 yesterday, significantly higher than $0.18 12 days ago.
As WEB3 projects continue to rise, WEB3 infrastructure is being laid out. Polkadot has been a key proponent of increasing WEB3 adoption. However, very little of this has been factored into the price of DOT. The market sometimes requires time to adjust and price in various developments and accomplishments. It’s strange how sometimes the response from the market is immediate, and other times requires years.
The Rise Of Interoperability
Blockchain interoperability is linked to the further adoption of WEB3. This is where I envision the unfolding of the next chapter of WEB3. Yes, interoperability will play a crucial role in attracting more users to WEB3. Whenever technology is simplified it experiences increased adoption. The ease of use and reduced friction encourage the less adventurous to give it a try.
As mentioned, much development is occurring within the Polkadot ecosystem. The Avalanche9000 upgrade will also help to onboard more builders as multiple barriers of entry will be removed, as a result of the upgrade. Builders will be given a relatively inexpensive opportunity to build and release their creations. This will create a strong inflow of new projects.
Improved interoperability is another benefit that will aid in onboarding new projects and users. Improved scalability and interoperability are foundational in taking WEB3 to the next level of incorporation and adoption. However, what level of interoperability is required to achieve this feat? That is what the market still has to figure out and process.
Interoperability enables multiple chains to converse in many “languages” with a built-in interpreter enabling translation. Without interoperability, chains can only communicate within their borders. Essentially, the concept of interoperability removes these borders and enables clear communication between different blockchains. As you can imagine, this is an incredibly powerful dynamic, regarding adoption.
Final Thoughts
A lot still needs to unfold before seamless interactions are the standard practice in an interoperable world. However, the journey has begun and leading names in the industry are heading up the cause. This is an important step in WEB3’s journey and one that must be made to experience widespread adoption. The weekend has arrived and BTC is trading at $66K! Enjoy your weekend and I will see you next time!
Disclaimer
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This article was first published on Sapphire Crypto.