DAO, social tokens, blockchain-based social networks or meta universe, these are all good times in frontier life.
Original title: ” a16z partner Chris Dixon: The next wave of blockchain applications after DeFi and NFT may be these “
Written by: Chris Dixon, a16z partner Chris Dixon
Compilation: Porridge Overnight
Suppose you were an ambitious and adventurous founder in the golden age of mobile Internet around 2009-2012, and you developed a new mobile application. That was when Uber, WhatsApp, Instagram, Venmo, Snapchat and many other top apps were born.
Since then, the adoption rate of mobile Internet has experienced an S-shaped curve growth. Although people still build great mobile applications, the fruits of victory have been picked by the predecessors.
The frontier of computing in this decade is building applications on programmable blockchains such as Ethereum.
Blockchain is a virtual computer running on a physical computer network. They have new features and functions that the previous computers did not have.
When the blockchain has a highly expressive and close to Turing complete programming language, we say that the blockchain is programmable. At present, the most popular programmable blockchain is Ethereum.
Programmable blockchains are interesting for the same reasons that mobile phones become interesting when they are open to third parties through app stores. The best ideas often come from the edge.
We saw this during the “DeFi Summer” last year, when the first wave of encryption/blockchain killer applications emerged: Uniswap, Aave, Compound, Maker, etc.
DeFi shows that it is possible to build inclusive, fair, transparent and composable financial services. On Wall Street, value flows to institutions in the center, while in the DeFi world, value flows outward to people on the periphery.
And this year’s NFT and games are the next wave of blockchain applications (for example: NBA Top Shot, CryptoPunks, Axie Infinity, etc.). You can see this through the fast-growing total sales of OpenSea, currently the largest NFT market:
To some people, NFT looks stupid, like a toy. But NFTs are important because they provide creators and developers with better economic benefits than existing Web 2 platforms.
So what will be the next wave of blockchain killer applications? The computing wave is difficult to predict, but there are some interesting emerging categories.
DAO (Decentralized Autonomous Organization) is a global collective that is native to the Internet. They share resources, build products, and work together to achieve common goals.
Social token is a new way for creators to make money online. They eliminate rent-seeking intermediaries and promote the development of micro-economy that grows with fan communities.
The blockchain-based social network has made a firm commitment to users and developers, so they can build on a solid foundation without worrying about API and economic changes.
The 3D world and metaverse experience supported by encryption technology allows people to socialize, make money and build mini worlds, while ensuring interoperability and true ownership.
The above are just a few ideas. Entrepreneurs are better at building the future (rather than someone like me predicting it). The best ideas may not have been conceived yet, or they may seem strange to us today.
If you work in the encryption field, you will be accustomed to the cynicism of outsiders who think what you are doing is stupid or a scam. For the work people are doing, we usually haven’t named them yet. This field is too new.
This is what it feels like to work at the beginning of the S-curve. Programmable blockchain is the frontier of computing, just like personal computers in the 1980s, the Internet in the 1990s, and the mobile Internet in the past decade.
Today, when we look back at the classic moments in computing, we want to know what it’s like to be in it.
Then you are there! The Homebrew Computer Club in 2021 is a DAO or Discord server, but the model is the same. Fans share ideas, and tinkers continue to make repairs in the evenings and weekends.
These are all good times in frontier life.
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