Trends Pushing Web3 Adoption: Welcome to the Decentralized Future.

  • Web3 technology will soon revolutionize the idea of a decentralized future.
  • Experts predict growth in the industry reaching hundreds of millions of gamers by 2023-2024.

Web3 is simply the idea of a new internet based on blockchain technology, which is proving to be the future of the internet. Web3 technology refers to the data and applications of how humans interact with each other on the internet.

After Web2 services have established best practices, Web3 technologies are now being embraced to make them more secure and easy to access. Web3 adoption has to move beyond the crypto corner to mass adoption, providing simplicity, applicability, and security. Fulfilling these components would help in the successful adoption of Web3 technologies.

In order to adopt the future of our internet, moving towards Web3 technology, there are certain trends that have to be followed to move ahead of time. As businesses are starting to recognize the utility of Web3 projects, the following trends will resurrect Web3 technologies and enable them to reach their full potential:

With the rising popularity of blockchains and their uses, crypto payment gateways are in high demand. Businesses that want to receive crypto over fiat money can easily do so with the help of these gateways, making crypto adoption much simpler. The upcoming crypto exchange is designed with Web3 standards and its highly verified system ensures secure and safe transactions without fail. As a result, Web3 technology provides for the smooth functioning of crypto exchanges.

Web2 companies that have provided crypto payment options in the last couple of years are now incorporating elements like NFTs into their services. People need to become familiar with blockchain technology as it is going to stay for a long period of time. Traditional companies are now adopting Web3 technology to boost the adoption of Web3 services.

We are seeing a large number of games emerging to provide mass adoption of Web3 technologies. In-game purchases, trading, and exchanges have proven to be of great advantage. Experts predict growth in the industry reaching hundreds of millions of gamers by 2023-2024.

L2 protocols allow off-chain transactions that are eventually resolved on-chain, resulting in quicker and cheaper transaction processes. By using L2 technologies, Web3 apps can support smart contract execution without sacrificing the security aspect of the process. This idea increases the stability and accessibility of Web3 apps, making them more attractive for adoption.

2023 seems to be the future of NFT adoption as top brands jump on board. With the rise in NFT adoption, there will be a rise in Web3 protocols that improve the smoothness of the platforms.

While technology and trends are on the rise, 2023 is a big year for Web3 adoption. So, if you are an investor, trader, or gamer, get ready for a new wave of the internet, the adoption of Web3 technologies.