• 18 June, 2024
News

Venture Fund a16z Shares Things They Are Excited About in Crypto

a16z, a venture capital firm that invests in crypto and web3 businesses, has now published a comprehensive list of big ideas software developers may pursue in the crypto industry by 2023.

The first is blockchain’s mobile moment. The business asserts that the time has come for mobile cryptography. Users may now easily check blockchain data on their smartphones. a16z expects comparable trust and decentralization improvements at additional layers, such as event indexing and user data storage.

Second is zero knowledge, multi-party computation, and post-quantum crypto. Though effective, zero-knowledge systems suffer from a plethora of tradeoffs in areas such as prover speed, proof conciseness, and the absence of a trusted infrastructure. The venture capital firm suggests that further zk-proof constructs are required to fill the gaps in the multi-dimensional space of these tradeoffs.

Following that is zero-knowledge onboarding for developers. a16z believes that factors like the spread of instructional resources, together with ongoing theoretical progress, will result in a swell of interest among prospective app creators.

The fourth kind is on-chain games. According to the startup, “on-chain games” (or “autonomous worlds,” as their superset is often called) developed on top of blockchain technology are just getting started.

Last are non-transferable tokens and decentralized energy. Web3 apps that make use of decentralized IDs and independently verified credentials are something a16z is interested in seeing developed on top of this basic.

Markets for carbon credits and renewable energy certificates (REC) are also growing on the blockchain, as noted by a16z, which also indicates promising prospects for the development of microgrids and storage and transmission networks thanks to the elimination of obstacles like high initial investment and inconsistent financial incentives through the use of tokens.

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