The adoption of cryptocurrency and blockchain technology has seen continual growth across the last few years, with the adoption curve mirroring that of the internet and is set to outperform in the coming years.
The potential that Web3 has to enhance everyday life across a plethora of industries and sectors will fuel the growth and utility protocols such as Solana (SOL), Ethereum (ETH), and Persystic (PSYS) will be some of the main platforms to power this growth.
Solana (SOL) exploded in 2021 as developers and crypto enthusiasts understood the potential the network has to evolve the ecosystem and become a blockchain powerhouse thanks to its superior speeds and low fees. Although Solana was stifled by reports of network outages which saw some investors lose faith, the fundamentals behind why the project rose to prominence are still there and now Solana is back on the offensive.
They recently announced that they would be building the world’s first Web3 phone on Android to make accelerate the integration of blockchain technology into wider society. Moreover, increasing accessibility will help democratise the landscape and provide seamless integration for experienced and new users alike.
Consumption of technology these days is becoming more and more remote through the use of phones that now are more advanced than the technology which put the first man on the moon. For Web3 to reach its full potential integration onto mobile platforms is a must and Solana is paving the way for this.
As Solana looks to ramp up its efforts to compete with Ethereum (ETH), the largest Web3 utility platform has more projects running on the Ethereum network than ever before. Simply put, Ethereum will be the cornerstone of Web3, with the growth of Layer-2s largely due to solving scalability issues on the network as congestion has become a problem at times.
It is difficult to critique a protocol for being so far ahead of its time that the main issue with the network is being caused by the very demand it is creating, but this is the world we now live in. Nevertheless, the growth of NFTs and the potential that they have to forge a paradigm shift in consumption will largely be powered by ETH.
Many people when they hear the word NFT think of images and Jpegs, but NFTs go far beyond this. An NFT could be in the form of loyalty and reward points, gaming content, music content and memorabilia, and many, many more.
Ethereum will still encounter some scaling issues as the growth continues, but with help of Layer-2s such as Polygon (MATIC), Ethereum will be the bedrock of Web3.
One area that blockchain technology has been touted to enhance is social media and Persystic (PSYS) is now set to bring the realisation to life. Persystic will be the next generation social media platform that through decentralisation will create a truly democratic social media experience.
Users will have full ownership of all the content that is posted and will have monetisation rights alongside providing a platform to express themselves freely and securely thanks to the encryption on the blockchain. Fundamentally the team behind the project believes in the principle of freedom of speech and will limit censorship just because it may seem a controversial view.
Persystic is currently in its presale with its native coin PSYS available at its stage-1 price before listing on DEXs later this year. The coin will facilitate purchases on the platform and allow P2P transfers, and even tip fellow users for the content that they produce.
As Social Media becomes less and less democratic platforms that leverage blockchain technology to provide security and individual ownership will be empowering and can revolutionise how we consume social media.
If you are interested in learning more about Persystic click the link here to find out more.
Persystic Token (PSYS)
Presale: http://join.persystic.io/
Website: http://persystic.io/
Telegram: https://t.me/PersysticTokenOfficial
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HO CHI MINH, Vietnam, 17th November 2024, Chainwire