Paul Hsu’s Post

Over last few weeks, I had some really interesting conversations with a bunch of people, and I noticed a common theme: a lot of people think that web3 is just about crypto. Let's break that myth. Yes, crypto is a big part of web3, but there's so much more to it. Web3 is essentially the next phase of the internet. It's all about decentralization, giving users more control over their data, privacy, and how they interact online. Here are a few key aspects of web3 beyond cryptocurrency: 1. Decentralized Apps (dApps): These apps run on decentralized networks, which means no single entity has control. This leads to greater transparency and security, putting more power in the hands of users. 2. Smart Contracts: Think of these as digital contracts that automatically execute when conditions are met. They’re changing the way we do transactions and agreements, cutting out the middleman. 3. Decentralized Finance (DeFi): DeFi is shaking up the traditional financial world by offering decentralized alternatives to things like banking, lending, and trading. 4. Non-Fungible Tokens (NFTs): NFTs are unique digital assets that represent ownership of specific items or content. They’re opening up new ways for creators to monetize their work. 5. Decentralized Autonomous Organizations (DAOs): DAOs are organizations run by smart contracts where decisions are made collectively by the members, promoting democratic and transparent governance. Web3 is really about transforming the internet into a more decentralized, fair, and user-centric space. It has the potential to revolutionize a ton of industries, from finance and art to gaming and social media. So, what do you think about web3? Have you explored any of its aspects beyond cryptocurrency? I'd love to hear your thoughts and experiences. Let's discuss! #Web3 #Blockchain #Decentralization #Innovation #FutureOfTech

What are Decentralized Applications (dApps)? Unlike traditional apps controlled by a single company, dApps run on a blockchain network, like a public ledger spread across multiple computers. This means: 𝗗𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻: No single entity controls the app, making it more resistant to censorship and downtime. 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆: All transactions and codes are publicly viewable, fostering trust and security. 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆: Data is tamper-proof, thanks to the blockchain's secure architecture 𝗧𝘆𝗽𝗲𝘀 𝗼𝗳 𝗱𝗔𝗽𝗽𝘀: The world of dApps is vast, encompassing a wide range of functionalities. Here's a glimpse into some popular categories: 𝗗𝗲𝗙𝗶 (𝗗𝗲𝗰𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲𝗱 𝗙𝗶𝗻𝗮𝗻𝗰𝗲): Think of peer-to-peer financial services like lending, borrowing, and trading without traditional institutions. Example: Uniswap - A decentralized exchange where users can swap cryptocurrencies directly with each other. 𝗚𝗮𝗺𝗶𝗻𝗴: Play and own in-game assets like characters or items, often using cryptocurrencies. Example: Axie Infinity - A popular play-to-earn game where players breed and battle cute creatures, with ownership of these creatures represented by NFTs (non-fungible tokens) on the blockchain. 𝗠𝗮𝗿𝗸𝗲𝘁𝗽𝗹𝗮𝗰𝗲𝘀: Buy and sell goods or services directly, cutting out intermediaries. Example: OpenSea - A leading NFT marketplace where users can buy, sell, and create digital collectibles like artwork or music. 𝗦𝗼𝗰𝗶𝗮𝗹 𝗠𝗲𝗱𝗶𝗮: Explore platforms where users control their data and content moderation is community-driven. Example: Minds - A decentralized social network where users earn tokens for creating and curating content. #dApp #blockchain #DeFi #futureoftechnology #nfts #ethereum

Genesis is back! Here are the trending early-stage crypto startups on socials of the past week, according to our data: Prediction Markets Myriad - a platform offering users trending content and integrated prediction features through the Myriad Extension. Digital Identity OpenPassport - a platform for anonymous humanity proofs through passport verification. Wallets Blitz Wallet - a soon-to-launch Bitcoin Lightning wallet built with the Breez SDK, Boltz, and Blockstream Greenlight. NFT ƒlayer - a non-custodial, fungibility layer for NFTs that allows users to manage their NFT assets in a more liquid and flexible manner. Infrastructure BTC Terminal - an infrastructure platform for Bitcoin protocols like Runes Protocol and Fractal Bitcoin, aiming to support projects with tools. Data Fileverse - a decentralized file management platform similar to Google Workspace, designed for Web3 users. The rest of the companies (sectors: DeFi, Launchpad, Gaming...) can be found inside this week's issue of Genesis: https://lnkd.in/dEunJaPe

Ownership vs Interoperability #crypto #fintech #web3 #blockchain Yes we’re at a moment where digital assets like decentralized loans and smart contracts are changing the game of ownership and compatibility. BUT The reality is that these assets are still "stuck" within closed platforms, each with its own protocols and standards that keep them isolated. So, what’s the result? Users can’t move their investments between platforms as easily as they would cash, which holds back growth and ends up being a real roadblocker. Interoperability is key. And, building these bridges between platforms is the next big leap. If digital assets could move smoothly between platforms, it would set up an ecosystem where users really have the freedom and control they want. This means designing "UX/UI" protocols that allow for a borderless financial landscape. We need this intersection of ownership and compatibility. stay sharp

🚀 Building the Future: Web3 & Smart Wallets! 🌐 As a developer, I’m thrilled to be part of the revolution that Web3 is bringing to the digital world. One of the most exciting aspects of this transformation is the rise of smart wallets—tools that are not only secure and innovative but also redefine how users interact with decentralized applications (dApps) and blockchain ecosystems. 💡 Here’s what makes them game-changing: - 🌍 Decentralization: Giving users complete control over their assets. - 🔒 Advanced Security: Features like private keys, multi-sig and biometric authentication. - 💳 User-Centric Design: Simplifying crypto transactions, DeFi participation and NFT management. - 🌐 Cross-Chain Support: Ensuring seamless integration across various blockchains. Working on technologies like Web3 and smart wallets as a developer has been an incredible journey. Every line of code brings us closer to a future where the internet is more secure, inclusive, and decentralized. This is just the beginning. The potential for innovation in Web3, smart contracts, and decentralized finance is limitless and I’m excited to keep building and contributing to this space! 💬 Are you exploring Web3 development or using smart wallets? Let’s connect and share ideas! #Web3 #SmartWallet #BlockchainDeveloper #Crypto #Innovation #FutureTech

🌐 International Survey of Web3 Adoption Web3 is a decentralized, open, and interoperable platform that enables individuals worldwide to interact and exchange value without a central authority. It promises greater efficiency, transparency, and equity. 🚀 Engagement Opportunities: Crypto users can engage with Web3 through: Trading digital assets on centralized (CEX), peer-to-peer (P2P), or decentralized (DEX) exchanges Minting and trading NFTs Borrowing or lending crypto Playing Web3-based games Using crypto for payments Making peer-to-peer payments locally or internationally (remittances) Staking crypto as an investment 📈 Expanding Products & Services: The crypto industry is expanding Web3 offerings, including: Privacy and scalability solutions Real asset tokenization Decentralized identity Consumer protection 📊 Global Survey Insights: The Coinbase Institute surveyed over 32,000 people from 16 countries to understand Web3 awareness, adoption, and concerns. Key insights include: Product and service market fit for the crypto industry Regulatory guidance for policymakers Investment strategies for digital asset investors 🔍 Survey Findings: The survey findings are grouped into three areas: Web3 awareness, adoption, and concerns. These insights highlight how countries rank across various Web3 products and services, helping expand the use of Web3 by understanding the “S”-shaped adoption curve. #Web3 #Crypto #Blockchain #Decentralization #NFTs #DigitalAssets #Fintech #Innovation #GlobalSurvey #Coinbase #Cryptocurrency #TechTrends

I have started a "Keeping it Simple" thread on the Hemex.io page, please follow and let us learn together as we unpack the #web3

After leading 10+ blockchain projects and building multiple DeFi protocols, here's what most teams get wrong about Web3 development: They optimize for technology, not product-market fit. Here's the framework I use with my teams: 1. Start with user pain points - What existing friction are we solving? - Is blockchain actually needed? - Can this be done with traditional tech? 2. Choose the right chain - Don't default to Ethereum - Consider L2s for cost-efficiency - Match chain features to use case 3. Build security-first - 80% of hacks happen due to rushed audits - Implement continuous testing - Run multiple audit rounds 4. Focus on UX - Abstract away complexity - Simplify wallet connections - Make transactions intuitive The projects that succeed? They're not chasing the latest L1 chain or DeFi trend. They're solving real problems for real users, building and incentivising communities. Result: 3x higher user retention in month 1. Want to know more, Let's connect! #web3 #blockchain #defi #development #ai #ethereum #nft #bitcoin #ath #project #communities

Just one of the innovations we are bringing into the #cryptowallet space... Our digital wallet is enabling secure in-app token transfers across multiple blockchains. By leveraging the Cross-Chain Interoperability Protocol (CCIP) from Chainlink, The iLuminaryAI digital wallet allows its users to securely transfer tokens across BNB Chain Innovation and Ethereum. Check for yourself and start earning rewards and daily tokens for using the app: https://ilumi.app.link/ #fintech #web3 #ai #cryptowallet

TRON Ecosystem: Advancements and Opportunities Blockchain Innovations: TRON leads in scalability and high throughput for decentralized applications (dApps) and smart contracts. 🌐 Decentralized Finance (DeFi): Platforms like JustSwap and Sun.io offer robust DeFi opportunities—lending, staking, and yield farming—to democratize global finance. 💸 Partnerships: Collaborations with Samsung and BitTorrent enhance TRON's ecosystem reach and functionality. 🤝 Community Engagement: Active governance and incentives empower users through voting and participation. 🌟 Tokenization and NFTs: TRON supports tokenization and NFTs, creating a dynamic marketplace for digital assets and collectibles. 🎨 Future Outlook: TRON's focus on scalability, DeFi, and NFTs promises significant opportunities for developers and investors. 🔍 #web3