Decentralization Evolves, AI And Blockchain Merge: A16z Makes Predictions For 2024

Venture capital firm a16z is predicting a future where blockchain technology is becoming more user-friendly and accessible.

What Happened: According to its annual trend report, a16z is betting that developers will make it easier for people to use and interact with decentralized applications (dApps) in 2024.

This includes developing new UX tools, such as passkeys and smart accounts, that make it simpler to sign into dApps and manage your crypto assets.

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AI, Blockchain Converge: This means that the two technologies are being combined to create new and exciting applications.

For example, AI can be used to power dApps that provide personalized experiences, while blockchain can be used to ensure the integrity of AI-generated content.

NFTs As Ubiquitous Brand Assets: NFTs will become ubiquitous brand assets, a16z predicts. Brands will use NFTs to engage with their customers, create new revenue streams, and differentiate themselves from their competitors.

NFTs can be used to create unique and personalized experiences for customers, and they can also be used to track ownership of physical goods.

SNARKs Go Mainstream: SNARKs, or Succinct Non-interactive ARguments of Knowledge, are a type of cryptography that can be used to verify computations without revealing the underlying data. This means that SNARKs can be used to secure a wide range of applications, including verifying the authenticity of content and verifying the execution of smart contracts.

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