Research, the research unit of Binance, the world’s largest cryptocurrency exchange, announced the headlines that may come to the fore in 2024.
It will be important in 2024, Binance Research said in its report dated January 15. 8 different themes focused. The 8 themes in question are presented in the presented report. Bitcoin ecosystem, property economics applications, artificial intelligence, real world assets (RWA), on-chain liquidity, corporate adoption, blockchain security And account abstraction was highlighted.
The report stated that the cryptocurrency industry experienced a significant comeback last year and that the bankruptcies that hit the cryptocurrency market in a chain manner in 2022 were left behind, and it was predicted that the entire industry would focus on further development and become inclusive in 2024.
Interest in the Bitcoin ecosystem may continue
Last year, the Bitcoin ecosystem With the BRC-20 craze Stating that it has unlocked a new door, the Binance front stated that this momentum can continue in 2024.
However, spot Bitcoin will come after ETF approval Bitcoin halving could trigger a significant wave of optimism in the market was expressed.
Projects such as decentralized social media may come to the fore
Secondly, it was stated that projects that allow users to gain more control over their cryptocurrencies may gain extra value in 2024. at this point decentralized physical network infrastructure (DePin) And decentralized social media (DeSoc) It was emphasized that the concepts will become increasingly prominent in 2024:
In 2024, we can witness that the adoption of both DePin and DeSoc projects is rapidly increasing, taking full advantage of their potential to grow and penetrate the ecosystem.
Artificial intelligence integration is coming
In parallel with all these, Binance Research pointed out that the connection between artificial intelligence technology and the cryptocurrency industry will strengthen in 2024 and the integration between both ecosystems will increase rapidly. Also in the details of the report Data storage in the field of artificial intelligence can be made more secure and transparent through decentralized applications. quoted:
For example, training artificial intelligence models requires extensive data entry, increasing the need for significant resources. At this point, the activities in question are generally limited to technology giants. This results in decreased transparency. However, we can achieve greater transparency and security by using decentralized storage for data management.
Real world assets and the importance of liquidity
While it was emphasized that real world assets and the cryptocurrency industry will become more intertwined in this new year, it was emphasized that tokenization will be moved to a new dimension, especially with the contributions of institutional investors.
At the on-chain liquidity point, total assets locked in the market (TVL) It was noted that its value functions as a basic building block and projects in this field can shine much more. Increasing optimization of liquidity providers plays a critical role in controlling positions and at this point, various strategies are used. liquidity protocols gain value specified. Binance Research continues to work in this field. Uniswap V3 He gave the protocol as an example.
In addition, it is widely believed that institutional investors will pour more capital into the cryptocurrency sector, especially Bitcoin, following the approval of the spot Bitcoin ETF.
Security and accessibility for greater adoption
The report points out that hacking cases, especially in the field of decentralized finance, increased significantly last year. More security-based protocols will emerge in 2024 It was stated:
Considering the importance of security, we anticipate that emphasis will continue on this area in 2024. This focus can manifest in a variety of ways, including product innovations, training initiatives, and improvements to user experiences.
Finally, touching on a concept titled account abstraction, Binance Research said: accessibility and inclusivity A global scale of cryptocurrencies will be key to adoption told:
Some innovations make us excited about the future. For example, account abstraction has facilitated the creation of smart contract wallets with features such as improved usability and social recovery that significantly improve the overall user experience. Given the strong competition between wallet providers, we wouldn’t be surprised to see rapid developments here that could further reduce the friction of using Web3 wallets.
Altcoin ecosystems may bullish
There may also be increased investor interest in areas where Binance expects to experience hype. That’s why Binance has chosen and focused on 8 in the field of cryptocurrencies A bull is expected to occur.
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