Web3 (345)

Without a doubt, one of the biggest trends in the cryptocurrency industry throughout 2021 has been nonfungible tokens. Prices of blockchain-based collectibles, artwork, GameFi assets and other virtual items have gone through the roof — leaving many on the sidelines scratching their heads. In this OKX Insights in-depth examination, we look closely at the NFT phenomenon and the value propositions of the most successful collections. 

Scalability has emerged as a hot topic for Ethereum , with many seeing it as a potentially major hurdle to the technology's widespread adoption. Leading the charge in tackling this challenge are Layer 2 solutions. Certain solutions are tailor-made to enhance performance across the blockchain ecosystem, providing a host of important benefits:

In the rapidly evolving world of Web3 and decentralized applications, Line Mini Dapps present an innovative way to access blockchain-powered services directly from the LINE messaging app . These lightweight decentralized applications (Dapps) integrate seamlessly into the LINE ecosystem, allowing users to engage in various blockchain activities—such as gaming, finance, and digital identity—without needing to install separate apps. Mini Dapp has reached 10 million active users in just 10 days since its launch.

Just as Jules Verne imagined the moon landings more than a century before Apollo 11 made its historic touchdown and HG Wells foresaw the atomic bomb decades ahead of its real-world creation, technological progress often turns science fiction into science fact. The number of online virtual worlds launched over the last decade suggests we're closer than ever to another once-far-fetched idea escaping the pages of literature to become a reality. The so-called “metaverse” may soon be upon us, and with it'll arrive new forms of social interaction, economic possibilities, online experiences, and creative avenues.

Casey Rodarmor created the  ordinals protocol  with Bitcoin node operators in mind. While the protocol recommends running a full Bitcoin node to participate, doing so can be expensive, take a lot of storage space, and require technical expertise to maintain.

Crypto is on the march in Europe, with Central, Northern, and Western Europe (CNWE) representing the second-largest market in 2023 behind North America, according to Chainalysis . Meanwhile, Eastern Europe captured 8.9% of the total global crypto value received in the year to June 2023, with Ukraine sitting highest (fifth) among all European nations in Chainalysis' 2023 Global Crypto Adoption Index.

When it comes to Web3, self-custody refers to absolute ownership of your digital assets, without relying on a third-party intermediary. It means that only you hold the keys to your cryptocurrency wallet. Losing your recovery phrase and private keys results in losing access to your wallet, along with all stored assets. Additionally, if your private keys end up in the wrong hands, your funds can be stolen. The standard practice has been to write down your phrases and keys physically and store this paper securely to prevent digital hacks.

MetaMask is a popular cryptocurrency wallet that allows users to securely store, manage, and interact with Ethereum and other Ethereum-compatible cryptocurrencies. The wallet is available as a browser

Avalanche is a blockchain platform designed for decentralized applications and enterprise solutions. It aims to provide faster transaction times, lower fees, and increased scalability compared to othe