Report Web3 and Blockchain

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Report introduction: Report Web3 and Blockchain

Web 3.0 is the upcoming third generation of the internet where websites and apps will be able to process information in a human-like way through technologies like machine learning (ML), Big Data, and decentralized ledger technology (DLT). According to Ethereum co-founder Gavin Wood, data ownership, online economies, and decentralization will be essential aspects of Web 3.0 future. Blockchain provides a proven system to achieve many of these goals: indeed, the ability for anyone to tokenize an asset, put information on-chain, and create a digital identity is a huge innovation that lends itself to Web 3.0.

Global blockchain solutions spending is observing an exponential growth. It reached 7 billion dollars in 2021 and it is predicted to grow in the next years reaching almost 19 billion of U.S. dollars by the end of 2024. Ethereum, BSC and Tron are the top 3 chains in terms of Total Value Locked (TVL) as of June 2022. Particularly, Ethereum is the main blockchain used with a share in TVL of 63,81%. That’s why price developments of this particular cryptocurrency can have a big impact on Web 3.0 industry.

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