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Source: Blockchain Knight
It is generally said that the use of Web3 in 2023 is a year of challenging.Following the highly of close closure incident in 2022, users and funds flowed out, the market fell into a bear market, and risk investment declined significantly compared with the previous year.
However, this narrative can only be described in approximate, and it does not always reveal the whole picture.
Although the financing of Crypto’s asset market and start -ups has indeed declined in 2023, the application and development of Web3 in institutions and enterprises are acceleratingEssence
Financial companies and central banks are conducting ambitious experiments. For example, asset management giant Franklin Templeto’s token market on Polygon blockchain, or the stable currency supported by the euro supported by the BitStamp recently listed on the Bitstamp in the Crypto Asset Exchange.
At the same time, big brands such as Nike, Visa, and Gucci have also further promoted their efforts in Web3 by launching loyal rewards and participation programs based on the token and NFT loyal rewards and participation programs for customers.
In addition, based on this trend and the development of the underlying blockchain technology to enterprises, we expect more use cases and industry applications in 2024Essence
Healthcare is an example. Web3 has been highly developed in the medical industry for a long time, such as more effectively preserving patient records.
However, it is naturally impossible for healthcare companies to adopt a “fast action and break conventional” operation like typical start -up technology companies, so it is promised not to be fulfilled.
Now, the privacy -centered ZK (zero -knowledge) solution is getting higher and higher, and is being achievedEssence
Blockchain primary medical projects such as Solve and Care have been developed for several years, and now ZK technology can be used to promote clinical trials.
However, development platforms such as NAMADA provides mature medical care companies with a way to test Web3 technology in a safe and flexible environment.Namada uses ZK to prove to encrypt the data on the chain, and at the same time allows storing data on multiple chains, and provides custom privacy and access control.
At the platform level rather than the application level, ZK technology can also be applied to a series of other use casesEssence
Namada shows the possibility of its platform through the incentive test network based on multiplayer games. In this game, players compete with each other and perform the shielding of Crypto assets on almost all blockchain.
Players’ ability to participate in secret activities is an important part of many games, and the use of ZK technology on blockchain has just become possible.
Similar to healthcare, due to the inherent risk avoidance and lack of sufficient scalable private platforms, the speed of using Web3 technology in a voting system such as public elections or shareholders voting has always been slow.
However, Indian scholars have found that the voting system based on the blockchain can strengthen the democratic process. By allowing people to vote in their homes to increase voters’ participation, save time and public resources, and reduce the number of false voting registration.
Introduce a new encryption method on the chain to make the blockchain -based voting application a realityEssenceFhenix is the first platform to introduce FHE (completely in the same state) into the blockchain ecosystem, so that data can be encrypted and calculated on the chain without moving it to the chain.
Fhenix is also a second -level platform compatible with EVM, which means that it is open to Ethereum developers and allows them to use familiar Solidity smart contract languages to vote applications or a series of other cases to build encrypted smart contracts.
Blockchain infrastructure has also made great progress.Just a few years ago, many blockchains were running like the wall garden and could not process data from the outside, because these data needed unbelievable verification as the same as on the chain activity.
The appearance of ORACLE has brought the data under the chain to a certain extent, but a project called “Space and Time” further develops a decentralized data warehouse on the basis of this, so that smart contracts can use SQL searchAnd process data and use ZK proof to verify.
However, Space and Time also realized that SQL cannot cover 100 % business cases,ThereforeEssence
It allows anyone to extract data from the existing database and load it to Space and Time without using any code, and then connect Python operations to smart contracts with ZK certification guarantee.
This solution can realize a large number of new blockchain examples, such as the calculation of price prevention price for permanent options on the chain, or a large amount of data development chain index based on the chain.
The development of the corporate blockchain we see is at a critical moment, and the momentum of using the blockchain has begun to accelerateEssence
It seems to be a turning point in 2024, and people’s interest will meet with the real WEB3 technology for the first time.
