The ABCs of Blockchain and Web3
Cathie Wood is possibly the best-known advocate for innovative and disruptive technology. The blockchain and Web3 as a tech epitomise these qualities in abundance.
In an April statement, she declared ARK Invest’s prediction for the future of Blockchain development and application. She compiled 3 main segments:
A – The Money Revolution – Bitcoin.
B – Financial Revolution – DeFi – Ethereum and Logarithmic Finance.
C – The Internet Revolution – Web3 – The Cosmos Hub.
A – The Money Revolution (BTC)
Bitcoin needs no introduction. A global decentralised, peer-to-peer database for value transfers.
Satoshi Nakamoto (the creator’s pseudonym) created the perfect asset to change money forever, under the most perfect circumstances. Using a pseudonym to deploy the very first blockchain and cryptocurrency meant there was a distinct intention from the creator not to give Bitcoin an identity. This feeds into the decentralised revolution that BTC then went on to foster.
The pseudonym underlines the concept that BTC as a currency is for everyone and could have been created by anyone. These two points are central to the definition of Bitcoin and, as Jack Dorsey (founder of Twitter and Square) says, makes Bitcoin tangible.
No more than 21 million Bitcoin will ever be in circulation. Furthermore, the mining process and algorithms to solve become incrementally more difficult to fulfil the more BTC is mined.
Satoshi Nakamoto’s wallet is heralded to have roughly 1 million BTC inside it as well, which hasn’t moved since the conception and founding of Bitcoin.
B – The Financial Revolution (DeFi)
Best depicted by Ethereum, the Decentralised Financial revolution began when Ethereum deployed smart contracts to allow for decentralised transactions in a distributed ledger – a blockchain.
This sparked the DeFi revolution. Logarithmic Finance (LOG) is the latest and most innovative DeFi protocol to emerge. Solving some primary issues with blockchain adoption such as scalability and gas fee volatility, LOG serves as a cross-chain liquidity provider, tapping into some of the most powerful DeFi blockchains like Ethereum, Avalanche and the Binance Smart Chain.
Logarithmic Finance’s multichain function solves the biggest problem that Ethereum has been facing since its inception in 2015.
Cathie Wood makes clear that TradFi (traditional finance) has no issues with interoperability because it is centralised. A truly interoperable decentralised financial system has been elusive and Logarithmic Finance is aiming to solve this problem through its layer 3 solutions.
C – The Internet Revolution and Web3
Cathie Wood’s third prediction for the future of blockchain tech is a network of decentralised apps (dApps) external to traditional media and centralised blue-chip companies – Web3.
The Cosmos Hub (ATOM) is the first mover in blockchain interoperability allowing for the easy creation of dApps and blockchains using its Tendermint SDK technology.
ATOM was the foundation technology behind Terra Luna’s blockchain and DeFi ecosystem, but hopes for dApps of all kinds to be programmable through its blockchain. The essence of Cathie Wood’s prediction here is that the future of the internet will be user-owned and controlled. Users should not be subject to the desires and motivations of centralised bodies.
This was Satoshi Nakamoto’s intention in the first blockchain database, Bitcoin. Decentralised peer to peer communications. Through the development of blockchain and DeFi has come obvious investment opportunities. Cathie Wood has taken many of these opportunities, rendering her success.
Logarithmic Finance presents one such opportunity and it is still only in its presale. Connecting the world of DeFi together with Web3, don’t miss out on this golden opportunity.
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