2021 has been the year of breaking out for blockchain technology and many cryptocurrencies. The prices of tokens and advances in blockchain technology have gone better than many expected. NFTs are the main topic on many people’s minds, and this is only the beginning.
2021 was merely a warm-up for cryptocurrencies, and the expansion of the digital asset ecosystem means that the momentum will be sustained and even increased in the coming months. Following are some predictions and trends that you can expect for the year ahead.
1. An Ownership Economy
2022 will be all about the ownership economy and DAO, and the collaboration trend is set to continue. Instead of sharing products, individuals will be able to share ownership in the platforms they contribute to. It is a better economic model for the users and will enable the crypto platform to become more innovative, inclusive, and resilient.
Uniswap is an excellent example of the ownership economy at work and allows traders to buy and sell digital assets. It is completely open sourced and uses the transaction fees to improve the market’s liquidity.
2. Multi-chain protocols
The transaction volume and the number of users using cross-chain bridges and multi-chain protocols are expected to maintain their upward trend. Many apps are using an increased number of chains that are equally distributed across layer one and layer 2. This will reduce transaction costs, and new users will have more options for entry.
The banner of web3 will be what NFTs, DAOs, and decentralized metaverses will use to enable users to interact online. It is expected to permeate people’s daily lives and see increased adoption.
4. Markets Might Experience a Downturn
The markets are expected to dip, but they will not freeze altogether. Instead, they will start stabilizing and healing from all the hurt they have experienced in the past year. Some cryptocurrencies will require network upgrades and improvements to stabilize and perform better.