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a16z:Web3. 0 ecological panorama

2022-02-03 14:41:20 Afar rabbit Research Notes

compile : Alfa rabbit

A16Z Is the pioneer of American encryption Fund , Earlier on the whole overseas Cryto The track has systematic research and layout , Study A16Z The report of , It is valuable for us to understand the whole encryption market .

It's on the market about Web3 There are relatively few systematic explanations . This article is relatively simple and easy to understand , Getting started as a foundation , Suitable for Web3 Interested readers read , You can understand the whole from a macro perspective Web3 Concept of ecology .


We firmly believe that : The innovation of the next wave of computer wave , Will appear on the basis of Distributed Technology , Innovation also includes the overall organizational form of the new economy .

Web3 The development of has gone beyond its own financial origin and boundaries ( Here it means Crypto The track originated from bitcoin in the financial field ) Whole Web3 The composition of the community (Community), From art practitioners to small businessmen , And the general public . therefore , Intelligent regulation must be considered Web3 Diversity of potential users , And the diversification of application cases .

Decentralized technology , For the current digital world ( Controlled by monopoly forces such as technological oligarchs ) Provides alternative solutions : to open up 、 The infrastructure built by the democratization system , It can provide power for the future economy and institutions . To achieve this vision , It depends on how the government and the private sector work together , Cooperation includes the development of regulatory frameworks that encourage innovation , Manage the risks of various applications .

a16z yes Web3 The largest investor in the field : The investment team includes former officials from various US government departments ,a16Z Be cognizant of , This important new industry needs to be regulated responsibly (Web3). When the decentralized system gradually becomes the mainstream , We look forward to working with regulators and legislatures , Jointly formulate clear rules , This is for consumers 、 Entrepreneurs and creators (Creators) It's all good .

The field of encryption is technology oriented , Fast iteration . therefore , Ben Web3 The introductory manual will introduce some interesting application cases , Each case is accompanied by a list of additional reading materials , Interested friends can read further . I hope this manual will show Web3 Amazing diversity and potential , Help decision makers better understand how to use Web3 Tools , Provide solutions for the communities they serve .


Web3 application App

  • Decentralized autonomous organization (DAO)
  • Decentralized Finance (DeFi)
  • Stability currency and central bank digital currency (CBDCs)
  • Privacy and digital infrastructure
  • The creator economy (Creator Economy)
  • Chain Tour (Gamefi)

Web3 App( application )

Web3 App( application ) What is it? ?

The first era of the Internet (20 century 80 S to 21 At the beginning of the century ), Services are built on open protocols ( Such as TCP、IP、SMTP、HTTP: Network communication protocol ), Created a stable 、 A level playing field , On this basis, the Internet ecosystem is constructed , In this period of chaotic innovation , Internet giants began to start businesses and develop .

The second era of the Internet ( from 2000 From the mid-1980s to the present ), Enterprises have established a second layer of proprietary services based on the open protocol of the Internet 、 Closed agreement . The era of centralization began , With Google 、 Apple 、Facebook、 Represented by Amazon 、 Profit oriented technology companies , Software developed and services provided , Rapidly surpassing the first generation of open protocols , for instance :

Simple mail transfer protocol (SMTP) It is an open protocol to realize e-mail . Google owns Gmail( service ), Microsoft owns Outlook, But no company has an email enabled protocol itself .

however , in many instances , These closed agreements are not the core business of technology companies : Individuals don't pay Google to use Gmail, It is Gmail Support Google's core business of collecting data and selling advertising . This is it. Web 2.0 The world of , stay Web2.0 In the world :" If the user doesn't pay , Users are not customers , It's the product ".

We are now in the process of development web3 Early stage of , During this period , Community use and maintenance Web3、 Development Web3 The core infrastructure of , Can be motivated and rewarded

Web3 App Why is it important ?

Web3 The decentralized network of , It provides an alternative to the status quo of the fragmented digital age .

Through a centralized network , Billions of people have access to extremely advanced technology , Many are free to use , however , Such networks also stifle innovation : Enterprises with networks have unilateral power , For example, who can get the right to use the network ? How to distribute income ? What functions are supported ? How to ensure the security of user data . thus , Other groups such as startups and creators will have more difficulty developing their own businesses , Because they have to worry and pay attention to the central platform to change the rules , Take away their users or profits .

The challenge of decentralized network in the traditional sense is : They are public goods ( Products that are non competitive in consumption or use and non exclusive in benefits ), If there is no central body to make decisions , Make a profit , It is difficult to encourage the maintenance and development of decentralized networks . however , encryption (Crypto) Through decentralized coordination , Provide economic incentives to solve the problem of encouraging development .Web3 Will devolve power to communities rather than companies .

Decentralized network is an important counterattack force against fragile centralized applications : for example , stay 2021 year 6 month ,Fastly The company was paralyzed by software vulnerabilities , Users cannot connect to well-known websites such as 《 The New York times 》、《 The guardian 》、Twitch、Reddit Etc. home page . Decentralized system can avoid single point of failure . The decentralized network can also neutralize the unilateral control imposed by the centralized platform .

DAO Distributed autonomous organizations

DAO What is it? ?

DAO Is a community shared by online members , Managed by consensus rather than centralized leadership . Characteristic is :

  • De centralization : Rules cannot be changed by a single person or a centralized party ;
  • autonomous : Voting statistics and decision execution , Both follow the logic of writing smart contracts to calculate votes and execute decisions , There is no need for human intervention ;
  • Organizational characteristics :DAO The organization can coordinate the activities among stakeholders in distributed communities ;

although DAO The concept of sounds complicated , But we also have in real life DAO Application example of : image Publix Grocery Stores, Green Bay Packer, They are all cases of public ownership structure without centralized leadership .

(Publix Grocery Stores It's a community grocery store owned by employees )

DAO On behalf of " Governance on the chain " The use of . for example , In traditional corporate governance , The company's articles of association that prescribe certain policies , How to elect a board of Directors .DAO Similar policies and regulations can be coded into smart contracts , Continue to extend this concept to the digital world .

Smart contract is a stable computer program , Run on the blockchain network , It's like a legal contract , Smart contract is a commitment , It's just that they're written into computer code , It can be executed automatically and autonomously .

DAO Why is it important ?

DAO It is a new organizational governance model : It is a new type of organization built around transparency and inclusiveness . These principles can be applied to all kinds of organizations , Including non-profit organizations 、 collective 、 Cooperatives and investment funds .

The governance structure determines , How an organization makes decisions that are in the interests of its participants . Many existing forms of organization , The challenge is , Decisions are not made in a transparent manner , Moreover, the threshold for ordinary participants to participate in organizational governance is usually very high .

Decentralized Finance (DeFi)

DeFi What is it? ?

Decentralized finance or "DeFi " It refers to the financial field ( savings 、 Loans and foreign exchange ) Decentralized application of .

Decentralized applications (dApps) It's a computer application , Coding is based on smart contracts in related fields . These contracts are commonly referred to as " agreement (protocols)”dApps The difference from ordinary applications , lie in dApp Usually permanent , As long as the blockchain hosting the relevant agreement exists ,dApp There will be , Cannot be altered or manipulated by malicious actors .aApps It's also open , It means , Any computer can participate in the network , Access is not limited to a single or predefined group .

Blockchain based payment , Realize point-to-point digital transaction . In bitcoin (BTC) Before , Digital payment must rely on centralized records ( data ) Management , For example, banks and credit card companies . Even if the user passes PayPal or Venmo Such services are remittances , In fact, it's a message that depends on the bank's infrastructure " Financial claims (IOU)".

Cryptocurrency is very similar to currency : It can be regarded as the pricing unit in the system (a unit of account) 、 The medium of exchange (medium of exchange) And the means of storing value , And you can... Without a centralized third party , The transfer of real value in digital form .

DeFi Why is it important ?

Cryptocurrency (Cryptocurrencies) Support low cost 、 real time 、 Borderless 、 Point to point value transfer , Not subject to the business hours of mainstream financial institutions . most important of all , The entry threshold of cryptocurrency is very low .

This is for areas with insufficient financial services in the world , Offers a variety of opportunities . Blockchain based payment , For the world 20 About 100 million people without bank accounts open access to financial services . By using a mobile wallet , Foreign workers can be cheaper 、 It's easier to send your income back to your family in your home country .

Cryptocurrency can provide a safer store of value for countries experiencing hyperinflation . Of course , Most people think , Online remittance is as simple as sending e-mail , But this is just the experience of the lucky ones who have access to advanced financial services .

For more than 20% For Americans who have no bank accounts or lack banking services , The existing choice of financial services is slow 、 High cost and limited , The high threshold of financial services keeps millions of people out of opportunities in the whole economy .

Blockchain based payment may upgrade and improve the current payment system . For users who do not have a bank account to receive digital deposits , Cryptocurrency can be used to efficiently 、 Security 、 Low cost distribution of grants , At the same time, we can take advantage of the transparency of blockchain , To combat waste 、 Fraud and abuse of power .

If PayPal or Venmo Such fintech companies , The complete reform has changed the front end of consumer finance , that DeFi It completely changes the back end , specifically ,DeFi New pipes and tracks have been laid , Make financial services easier to use 、 visit 、 Audit 、 Upgrade and build . Participation in the financial system has become cheaper , It's simpler , This will bring unstoppable 、 Wider financial inclusion .

and , Like the Credit Union (Credit Unions) equally ( Another type of cooperative is linked to the microfinance service program for poverty and economic development , Mainly distributed in West Africa 、 Latin America, etc ), These financial services empower consumers , Let them control the consumer financial products they use , Become a member of the Alliance , This leads to better results . Decentralized financial services embrace the core value of open Internet , These values include :

  • Open to anyone in the world
  • Commitment to open source
  • Third party developers can adapt without permission
  • Low cost
  • The nature of security and privacy protection supported by encryption technology
  • Transparent management

Stability currency and central bank digital currency (CBDCs)

Stable currency &CBDCs What is it? ?

Stable currency is a private cryptocurrency , Against the dollar or the euro , The stable currency will maintain a stable value for a period of time . Stable currency with legal currency collateral : For example, a stable currency linked to the US dollar , Keep the asset reserve of legal currency , To match the issue value of each token . Other projects are usually stabilized by mortgaging digital assets or algorithms that automatically execute smart contracts . Central bank digital currency (CBDCs) It is a digital currency issued by the government , It symbolizes national sovereignty and obligations .

Why are they important ?

Stable currency provides the advantage of cryptocurrency , And no volatility . Cryptocurrencies such as bitcoin and Ethereum , May experience huge price fluctuations in one day ; The stable currency is designed to maintain a constant price , This helps stabilize the currency as an effective trading medium .

As a low volatility asset , Stable currency helps to realize the transaction on the chain , Including a modern global payment system and the release of a wider range of financial services . Modern global payment system , Provide a wider range of financial services for people who cannot use banking services . They are the basic components of a series of important innovations and the basis of important innovations .

CBDCs It has many advantages similar to a stable currency : Although they raise some privacy and security issues , But stable currency and CBDCs Can coexist . People are stabilizing money and CBDCs Choose between , Can create competition that drives innovation , Bring new features and improve new functions .

Privacy and digital infrastructure

What is privacy and digital infrastructure ?

The limitations of many current blockchain networks are —— The design is completely transparent . however , Frontier research in the new field of cryptography , It makes it possible to prove the effectiveness of information mathematically , Without providing the information itself . for example , Users can prove to the website that the website knows the user's password , Websites do not have to store users' passwords in vulnerable databases . therefore , This solution can solve both privacy and scalability problems .

Why privacy and digital infrastructure are important ?

Privacy infrastructure is very important , it It can not only protect users' personal data , and , It fundamentally expands the design space of the application . in consideration of Web 2.0 The background of massive data leakage in the era , Data protection must be at the heart of the next wave of technological innovation . The layout of privacy infrastructure will lead to a series of more protective applications .

Privacy infrastructure will also make people more compliant . In the existing system , Users may not be willing to provide personal information to service providers or App, Because the information may be used to view the historical transaction data completed by the user . The privacy layer helps dispel these concerns , Users are able to apply to specific principals : If regulators disclose certain information , At the same time, prevent the full disclosure of information . It means , Without privacy risk , Regulatory compliance will be easier to achieve .

The creator economy

The creator economy ( Creator Economy) What is it? ?

The creator economy , It's an emerging community of creators , Like an artist 、 musician 、 Game developers and so on , Directly with supporters ( fans ) contact , Cooperate without an intermediary , Creators have access to independent sources of income .

Substitutability (Fungibility) Refer to , A unit of a commodity is indistinguishable , And exchange . for example ,1 Dollar bills can be compared with any other 1 Dollar notes are exchanged . meanwhile , Irreplaceable is a work of art 、 The attributes of unique commodities such as collectibles and real estate .

NFT It is an unforgeable digital asset , Value due to uniqueness . for example , One NFT May represent a unique digital artwork , for example ,NFT May represent a unique digital artwork 、 a sheet Mickey Mantle A baseball card or a physical real estate in North Carolina .NFT In exchange for any other token ( Such as COINS ) identical .

Why is the creator economy important ?

For many people , Especially young people who spend more and more time on the Internet and digital space , Owning digital versions of physical assets is becoming more and more popular . Books 、 music 、 Movies and photos , In the form of digital files on hard disk or cloud .

When users buy NFT when ,NFT It belongs to the user , You can control them according to your needs , It's like buying real goods :NFT Can be transferred , sell , mortgage , lend , Or keep it for yourself to enjoy .NFTs Early examples include digital art 、 game 、 Sports souvenirs and Collectibles .

NFTs It provides a new way for creators to make profits , Bypassing the traditional gatekeepers( Refers to the intermediary who takes a commission ), Fans can directly participate in the creator's career , Witness their success ,NFTs The model is more beneficial to the creator , They can sell their works directly , You don't have to rely on middlemen ( for example , Artists who used to sell their works in galleries , The gallery will draw or charge a fee from it ). For fans ,NFT The model is better , Because fans can directly become NFT Owner , When fans support artists and creators , Can have more share .

Artists and creators , Has benefited from this new distribution model . for instance : The artist Matt Kane Sell oil paintings in local galleries for a long time ; last year , He sold a digital artwork on the blockchain , value 10 More than $ . The photographer Justin Aversano Put him "Twin Flames " In the series 100 A portrait as NFT sell , Earned 13 More than US $10000 . front MLB players ( Later became an artist )Micah Johnson, Sold for more than 100 Thousands of dollars in NFT, Representative works include a digital painting sculpture , as well as 30.5 Million dollar physical sculpture .

NFTs Have unique advantages : That is to use blockchain technology to track them , therefore , Artists can get a commission from secondary sales .21 Year old artist Robbie Barrat stay 2018 In the past years 176 A digital artwork was sold for $ , When this work is in 2021 In the past years 100 When an Ethereum is resold , Made about 11000 dollar , Resale is Robbie Earned from original sales 62 More than times .

2021 In the spring , As more well-known participants enter NFT field ,NFTs The popularity of has exploded .NBA Top Shot( come from NBA The official authorized collection of ) The total sales reached 2 Billion dollars , But marketing costs are low . Pop music Katy Perry and NFL player Rob Gronkowski Launched for fans NFT. image Ellen DeGeneres And King Leon (Kings of Leon), Novel coronavirus pneumonia worldwide pandemic , Days without performances , sell NFTs, Raise money for charity .2021 year 4 month , Sotheby's and famous digital artists Pak cooperation , For the first time NFT The auction . because NFT Is a verifiable digital property right , Outside the creator economy , There are also many potential applications .

Chain Tour

What is chain tour ?

Chain Tour : Blockchain based games , It refers to games built on blockchain technology . Chain tour and fortress night 、Roblox or Minecraft A key difference between popular games such as : Everything in the game can be traded into currency and then exchanged for other resources in the game .

And this is just the beginning : It is expected that blockchain based games can bring a new digital world and economic development .

Why is chain travel important ?

Blockchain games are examples of how decentralized technology can create new ways of making profits for creators : Items in blockchain video games , Such as tools 、 The skin 、 upgrade 、 Avatar and experience value -- Is owned by the player NFT, Can be sold with real-world money , Trading on the secondary market , And pass... Between games .

Blockchain games also promote " From play to earn " Model development . adopt Axie Infinity Such a game , People can earn real-world money by playing games . stay COVID-19 During the pandemic , Some Filipinos rely on similar Axie Infinity Make money from your games , Ease the economic difficulties caused by isolation .

Although we are far from experiencing the boundless digital world described by science fiction writers , There's still some distance to go , But the epidemic does accelerate people's familiarity with immersive virtual experience . For example, people use virtual identities to attend parties or meetings , Meeting in a virtual conference room , All these provide possible clues for the possible future manifestations of the meta universe .《 Fort night 》 The users of the game , Will buy various digital applications for their identity in the game , Will also participate in Travis Scott stay 《 Fort night 》 Concert in ( exceed 1200 Million users attended ). Although these games and platforms , It is still a centralized platform controlled by developers from top to bottom , But these explorations have gradually begun to show the prospect of a boundless meta universe in the future —— Everyone can contribute to its development .

notes : The copyright of this article belongs to A16Z all , The translation is public welfare , Just to help everyone learn together , Does not constitute any investment advice .

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