Share this article
Web3 Developers Still Building Despite Crypto Winter
Jason Shah, a product manager at Alchemy, a Web3 development platform, told CoinDesk TV that the pace is actually increasing.
Oct 21, 2022, 6:10 p.m.
In this article
Despite the big decline in crypto prices, developers are stepping up their pace to build applications with blockchain technology, Jason Shah, a product manager at Web3 development company Alchemy, said Friday on CoinDesk TV’s “First Mover” program.
“We see anything but a winter; we see all-time highs across all forms of development activity," Shah said, noting that large internet players such as Facebook, Adobe and Stripe are making moves into Web3.
Broadly, Web3 refers to a new iteration of the internet that is largely decentralized and incorporates blockchain and other new technologies.
Read more: What Is Web3? Understanding What Web3 Is... and Isn't
“We might see a world in which five years from now, we simultaneously have new crypto-native companies that could only have been built with the technology that blockchain affords us, combined with Web2 companies that have incorporated this technology into their products," Shah said.
Web3 native companies such as OpenSea or 0x are also likely to continue their development of blockchain technology in an effort to address new use cases.
Shah said that developers are “flocking,” to blockchains such as Ethereum, Polygon and Solana and pointed out that despite a 60% price plunge this year for ether, the use of smart contracts on Ethereum has increased by 40%.
Read more: Nike’s Venture into Web3 Isn’t About Tech – It’s About Culture
“We see all-time highs across all forms of development activity,” Shah said, referring to how Alchemy tracks activity, which includes counting the number of SDK (software development kit) downloads and dapps (decentralized applications) that are going live.
More For You
Most crypto privacy models weaken as blockchain data grows. Encryption-based models like Zcash strengthen. CoinDesk Research maps the five privacy approaches and examines the widening gap.
Why it matters:
As blockchain adoption scales, the metadata available to machine learning models scales with it. Obfuscation-based privacy approaches are structurally degrading as a result. This report provides a comprehensive comparison of all five major crypto privacy architectures and a framework for evaluating which models remain durable as AI capabilities improve.
More For You
A key sticking point is Aave’s V4 upgrade, which introduces a new architecture and significantly expands the scope of risk management.
What to know:
- Chaos Labs exits Aave, citing “fundamental misalignment” on risk strategy, rising complexity from V4, and unsustainable economics despite a $5M budget proposal.
- The departure follows exits of ACI and BGD Labs, raising concerns about continuity, risk management and operational stability as Aave enters its next phase.
Top Stories
