Partner of Dragonfly Capital: Layer 2 is the center of current development, and the popularization of DID is very necessary
Original author: Haseeb Qureshi, partner of Dragonfly Capital
Original compilation: czgsws, BlockBeats
Recently, Haseeb Qureshi, a partner of Dragonfly Capital, was a guest on the latest podcast of Unstoppable Domains, and published his insights on the current situation and future of the encryption field. The podcast host 0xJosh sorted out his speech, and BlockBeats compiled his speech. The following is the speech Original text:
This time there is different.
In 2017, we told the story of how the world will use blockchain. Then people lost confidence, and then the price surged again. Today, most dApps of value are still functioning normally. The decline in Token prices is inextricably linked to the macroeconomic environment.
Silicon Valley angel investor Naval Ravikant once said that if you don’t understand a project, then It is likely that the project party is talking nonsense. If you want to be a great investor, you need to invest in people who solve big problems. But solving big problems is both difficult and time-consuming.
Don't predict the future, focus on the present 1. Rollups and Layer 2 will stand at the center of the encryption development stage; 2. There is a demand for interoperability + multi-blockchain expansion solutions in the market; 3. The first generation of P2E games is struggling, and the economic model of encrypted games is being completely restructured.
Play To Earn will move to Play And Earn, not everyone will make money. In poker, some people make money, some people lose money, but everyone is having fun. Many crypto games look like poker. For Web3 games to succeed, they need a sustainable economic model.
Blockchains are like cities: SOL = Los Angeles, ETH = New York, NEAR = San Francisco, AVAX = Chicago. If you imagine the different blockchains as different cities, there is one big missing piece, the highway system connecting them.
ETH is Manhattan (old, expensive, congested) and everyone is complaining about it, Yet here lies the heart of America. The largest DeFi protocols and NFT projects are on Ethereum. We will live in a multi-chain world.
Nowadays when you are on an Internet application, most of the operations are completely user interaction . Ultimately, so will blockchain. The final game will run on the blockchain, and the user does not need to know which chain it is running on.
The largest Rollup layer2 today is Arbitrum. Optimistic assumes that Rollup is correct, and if you can prove it is incorrect, you will be rewarded. Zero Knowledge is to issue proofs for each block to verify calculations.
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Most of the world operates on credit, including car rentals, college loans, and home ownership. In order for DeFi to compete with CeFi, we need to build a credit system. For this, an on-chain identity system is necessary. So identity is the biggest problem with cryptocurrencies.
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