New Trends in Web3 Development: Three Key Areas of Focus

Recently, the Web3 field has shown several noteworthy development directions. As an industry expert, I believe that the following three areas will lead the trend in the near future.

1. Social and Consumer Application Scenarios

Web3 is expanding from the financial sector to the social sector. Recently, social elements such as on-chain loyalty programs have garnered attention, as these innovative attempts apply tokenization to change users' social behavior patterns. As users' transaction activities on the blockchain become increasingly frequent, the importance of stablecoins as a bridge connecting DeFi and traditional finance will become more pronounced.

At the same time, advancements in generative AI technology are expected to provide users with a more personalized and streamlined experience. The popularization of AI abstraction is anticipated to lower the barriers to entry for Web3, allowing users without a technical background to easily access blockchain data.

2. Modularization and Composability Based on Zero-Knowledge Proofs

Zero-Knowledge Proof (ZKP) technology will continue to advance, whether in theoretical breakthroughs in recursive proofs or in specialized applications in vertical fields such as collaborative processing, proof execution, zkDevOps, and privacy layers. ZKP is gradually becoming an important tool for establishing universal interfaces across different levels of a modular tech stack.

Modular architecture allows different layers of the blockchain stack (such as consensus, execution, data availability, etc.) to be handled by different providers. This design philosophy enables blockchain architecture to be flexibly assembled like LEGO blocks, allowing projects to customize their tech stack according to consumer-facing application needs. Additionally, using general-purpose languages like Rust to enhance the composability of smart contracts helps lower the entry barrier for Web3 developers.

3. Innovation in the Bitcoin Ecosystem

As the 2024 halving event approaches, the Bitcoin ecosystem is once again in the spotlight. Mainstream traditional financial funds may gain SEC approval to launch ETF products, while the modular Bitcoin blockchain supporting more composable smart contracts is also attracting attention.

The most striking innovation is undoubtedly the rise of Bitcoin digital assets based on Ordinals technology. This trend may lead to a diversification of NFT use cases: Ethereum NFTs may focus more on trading practicality, while Bitcoin NFTs may evolve into a form of "digital jewelry" due to the cultural significance of its chain, becoming a new medium for art and fashion collectibles.

As these fields continue to evolve, the Web3 industry will welcome more innovations and opportunities. We look forward to seeing how these trends shape the future digital world.