1、a16z crypto12023Overview ReportState of Crypto 2023 Andreessen Horowitz.All rights reserved worldwide.a16z crypto22023Overview ReportState of Crypto Progress.New builders are entering web3 at record pace.Academic research is accelerating.Ambitious products are launching regularly.Key infrastructure

2、is improving.A recent example:Ethereums successful transition to energy-saving“proof-of-stake”,one of the most significant upgrades in the history of open source software development.Setbacks.Noise drowned out signal with negative events dominating headlines.High-profile projects collapsed.Highly vi

3、sible investors went bankrupt.Major smart contracts were exploited.Global cryptocurrency market cap fell.DeFi and NFT activity declined.Market cycles.The“price-innovation”cycle we previously observed continues today.Apparently chaotic cycles in the crypto market are driven by an underlying logic:Ris

4、ing prices are a leading indicator for innovation.Numbers generate interest,which spurs ideas and activity,which leads to innovation.This positive feedback loop has held true since Bitcoins creation in 2009.Regulation.Crypto faces a shifting regulatory environment.Policymakers are proposing bipartis

5、an bills.Courts are deliberating over significant cases.Agencies are issuing enforcement actions.These are precedent-setting times.Opportunity.We believe recent setbacks underscore the failure of opaque,centralized systems in contrast to the resilience of decentralized infrastructure.We believe dece

6、ntralized computing platforms can also counter the trend of power consolidating into the hands of a few giant tech corporations.The internet needs web3.Those who understand this will fight for the future of these technologies.State of Crypto todaya16z crypto32023Overview ReportState of Crypto Web3 i