What are your expectations of Blockchain improvements?

[HawkTrader]

With several Layers of blockchain having several limitations like:

1. complexity
2. absolute on-chain security of assets
3. true ownership in web3 gaming
4. fragmented liquidity,
what do you think has improved as we enter Q4 of 2024 and what do you thinks needs devs attention to make it better?
I've seen a couple of blockchain projects in the testnet phase trying to address some of these limitations.

I. Haven1 - the L1 blockchain aims to improve on-chain security of assets leveraging proof of authority consensus to secure users assets.
II. Xion - introduces absolute chain abstraction for simplicity in the use of blockchain and onboard web3 users, buidlers and devs without barriers.

However, mainnet launch determines how successful they could become. Time will tell!

But there should be more to drive up significant adoption or don't you think so?

[Yatsan]

With several Layers of blockchain having several limitations like:

1. complexity
2. absolute on-chain security of assets
3. true ownership in web3 gaming
4. fragmented liquidity,
what do you think has improved as we enter Q4 of 2024 and what do you thinks needs devs attention to make it better?
I've seen a couple of blockchain projects in the testnet phase trying to address some of these limitations.

I. Haven1 - the L1 blockchain aims to improve on-chain security of assets leveraging proof of authority consensus to secure users assets.
II. Xion - introduces absolute chain abstraction for simplicity in the use of blockchain and onboard web3 users, buidlers and devs without barriers.

However, mainnet launch determines how successful they could become. Time will tell!

But there should be more to drive up significant adoption or don't you think so?

Some valuable insights into the challenges and successes of blockchain technology can be observed over time. As we move into 2024, vulnerability management and security appear to be improving significantly. This is especially the case with projects like Haven1, which are designed to protect Xion's assets while facilitating users' access to products that can quickly increase the number of users experiencing hair growth. Nonetheless, the mainnet success will be crucial.

To be multi-faceted Service providers need to focus on user experience. Seamless integration with existing systems and social cohesion apart, it will also address issues like de-centralized currencies. and interoperability between blockchains. Can add much more power to the ecosystem In the long run Continuous innovation and user-focused solutions are keys for realizing the full potential of blockchain.

[asriloni]

With several Layers of blockchain having several limitations like:

1. complexity
2. absolute on-chain security of assets
3. true ownership in web3 gaming
4. fragmented liquidity,
what do you think has improved as we enter Q4 of 2024 and what do you thinks needs devs attention to make it better?
I've seen a couple of blockchain projects in the testnet phase trying to address some of these limitations.

I. Haven1 - the L1 blockchain aims to improve on-chain security of assets leveraging proof of authority consensus to secure users assets.
II. Xion - introduces absolute chain abstraction for simplicity in the use of blockchain and onboard web3 users, buidlers and devs without barriers.

However, mainnet launch determines how successful they could become. Time will tell!

But there should be more to drive up significant adoption or don't you think so?

I don't think so, and i disagreed with your statement. We have more than enough blockchains for mass adoption. There should not be more blockchains created. It won't raise adoption much. But, it will split demand among various ecosystems. It means the demands get divided, and we'll rarely be seeing a massive pump happen.

Also, many conflicts are often happening between communities that back the blockchains. I have seen it a lot in the past when various communities attacked each other due to competition. That's why i said enough with th existings blockchain in the market.

[hugeblack]

The blockchain is supposed to be decentralized, so there is no such thing as hacking, and if you lose your money after it reaches a certain number of confirmations, no one can get it back again. The main weakness is not in blockchain projects, but in the bridges, which are mostly centralized, so the DeFi structure is based on bridges, which are highly centralized.

[Sayeds56]

The blockchain is supposed to be decentralized, so there is no such thing as hacking, and if you lose your money after it reaches a certain number of confirmations, no one can get it back again. The main weakness is not in blockchain projects, but in the bridges, which are mostly centralized, so the DeFi structure is based on bridges, which are highly centralized.

You are correct in identifying the risks involved with usage of bridges, while there is nothing wrong with block chain which are designed as to be safe and secure. The problems arise with the use of Bridges in Decentralized finance (DEFIs) dApps as they become vulnerable with the usage of Bridges those are essential for providing liquidity. The solution to this problem is layer2 technology where rolls up can reduce the cross chain activity, thereby enhancing security.

[TastyChillySauce00]

I think what Xion as a project doing is what exactly most of the project needed to address.

abstraction is needed for the average people to be able to adopt cryptocurrencies, no more overly complicated interface for the average people, speaking from my experience, the people who never interacted with blockchain in general and aren't too tech savvy already gets overwhelmed by using metamask, or any other desktop wallet, they see it as a big wall that prevents them from adopting crypto.

I think more and more project need to put more attention into this, if it's innovation for blockchain like security and scalability, I think too much project already offered such solution that the market is so full of L1 blockchain with its own unique capability but it gets old already.

the market is stagnating, especially for alt market, adoption from big retailer across the globe by eliminating abstraction is the way.

[Reatim]

what do you think has improved as we enter Q4 of 2024 and what do you thinks needs devs attention to make it better?

The biggest challenge to overcome is probably how much users are unfamiliar with new layers or just new features of blockchains technology. This builds a barrier between users and the blockchain as the users can’t maximize the said features of blockchains. Another challenge is that despite layers, we can’t deny that the transaction fees are still quite high despite layers’ intention of allowing for more scalability.

I am sure that these issues are being addressed and that developers are working day in and day out but I do hope they get solved as soon as possible.

[markm]

I think what Xion as a project doing is what exactly most of the project needed to address.

abstraction is needed for the average people to be able to adopt cryptocurrencies, no more overly complicated interface for the average people, speaking from my experience, the people who never interacted with blockchain in general and aren't too tech savvy already gets overwhelmed by using metamask, or any other desktop wallet, they see it as a big wall that prevents them from adopting crypto.

I think more and more project need to put more attention into this, if it's innovation for blockchain like security and scalability, I think too much project already offered such solution that the market is so full of L1 blockchain with its own unique capability but it gets old already.

the market is stagnating, especially for alt market, adoption from big retailer across the globe by eliminating abstraction is the way.

I think you typo'd or something on that last part as overall you seem to be favouring abstraction rather than suggesting it be eliminated.

In favouring it you are probably very right, isn't that afterall what the whole push toward ETFs (Exchange Traded Funds) is all about, abstracting-away all the complexities of crypto to offer a standard package just like all the pre-existing standard packages all the retirement funds and such are used to?

We have seen, too, how things like Microsoft's "Windows" hold greater market share by abstracting away underlying details, or even in Linux et al how so many users resist the "command line" yet somehow muddle by using GUIs (Graphical User Interfaces).

-MarkM-

[el kaka22]

I believe the most important parts of it is speed, cost and security. As long as you have this, rest is doable and not really worried about the rest. There are some blockchains which is secure, very fast and cheap at the same time but they do not have the volume bitcoin has, so they do look cheap and fast and secure but the TPS is very low, and I do not believe they can handle as much as what bitcoin handles right now.

Not because we can't have a better blockchain than bitcoins, we totally can, bitcoins chain is old, even segwit is old, we need something better, and with this brc20 type of weird stuff they are putting into bitcoin, we are talking about slower and more expensive bitcoin moves too. I just think adoption for something better will be very hard because you will not be able to convince people it's better.