Five Top Blockchain Trends For 2022

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Even though crypto has sunk into a deep downtrend, progress never stops. In fact, many businesses appreciate the opportunity that bear markets give them to BUIDL, away from the limelight of a bull run. Here are five of the key themes you can expect to emerge from the crash, stronger than ever.

No discussion of blockchain trends can be complete without a mention of Web3, which is arguably the single biggest overarching theme for how the internet will develop over the next few years.

Web3 is a decentralised, open version of the internet, in which individuals as well as organisations can collectively run the services that everyone uses. It’s a far cry from Web2, the current dominant version of the internet, which is characterised by large corporations like Facebook and Google, who provide highly popular but centralised services, and who exercise a high degree of control over users and their personal data. (Web1, for reference, was characterised by static, read-only pages hosted largely by individuals and smaller organisations.)

Blockchain, as a shared ledger with use cases from financial transfers to smart contracts, is one of Web3’s key technologies, underpinning some of its core functionality – including all kinds of decentralised applications, and fungible and non-fungible tokens. 

While Web3 is fundamentally an open source technology, it has received backing from big names in the tech space – not least Twitter founder Jack Dorsey, a vocal Bitcoin advocate, who plans to use the Bitcoin blockchain for identity in a hybrid version of the web, which he terms Web5.

The idea of the metaverse is sometimes inaccurately conflated