WEB3, BLOCKCHAIN ​​, AND CRYPTOCURRENCIES ARE DRIVEN BY EXCHANGE

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Technological advances over time are becoming essential in the development of commercial markets and financial ones, taking Bitcoin Investment to a higher level.

To understand a TECHNOLOGICAL ECOSYSTEM with innovative tools that allow the best performance of the daily financial activities of many entrepreneurs and private users, we must know the concepts involved.

What is Web3?

This new proposal is focused mainly on maintaining the security of its users, as far as personal data is concerned, in a certain way maintaining the anonymity of Web users as a privacy measure since it is currently difficult to maintain it.

When referring to the term web3, it indicates that it is a new way of using the web but decentralized.

The blockchain platform is constituted by a set of blocks that store descriptive information of the operations that are executed, which has become increasingly known thanks to CRYPTOCURRENCIES.

This technical proposal comes as a counterpart to the digital monopoly that Amazon and Google currently have; through this decentralized network, everyone will be able to be an owner of the network.

P2P technology will allow information to be distributed on thousands of servers worldwide, where data can flow without needing to be approved by a specific server; let’s remember the blockchain is based on global consensus.

The use of the blockchain is becoming more and more popular in the economic and commercial environments; many companies have decided to bet on this platform, which is not only used by digital currencies.

Through Web3 and the blockchain, the doors will be opening to a new decentralized financial system where not only cryptocurrencies benefit, but concepts such as NFTs and the Metaverse are incorporated.

All this is to offer users new ways of creating assets and investments in completely independent scenarios and whose returns can, in many cases, generate the financial freedom many seek.

Web3 and cryptocurrencies

These concepts are beautiful to many, although they represent a greater risk for traditional and skeptical users.

From a digital investment perspective, we have witnessed how the financial market has taken a relevant turn after cryptocurrencies entered the market.

Cryptocurrencies have shown an upward trend in more significant proportion since 2021, where many companies and financial entities, even considering them safe assets, have diversified investments, increasing the capital allocated by almost 30,000 million dollars.

Now is the time when not only technology companies will reach their highest points of positioning, but also human talent will be recognized since technology is giving way to more and more offers that, for many, represents the fortune of the future.

Its effect on finances

Although this concept is still taking small steps for many, it has allowed cryptocurrencies and the digital financial ecosystem to diversify and increase significantly by using cryptocurrencies as a financial instrument.

An example of what Web3 represents and could be is exemplified in the video game known as Axie Infinity, where through digital currencies represented by Ethereum, they reward their users for the objectives they have achieved.

The essence of this game is to raise characters called Axies. They will later face other users, in addition to acquiring virtual land and monetary rewards, but in the video game currency.

In short, it involves players where it becomes more and more comfortable to have a virtual lifestyle. The best thing is that it generates rewards that can later be exchanged for legal tender coins.

That is why in many cases, these video games are known as Play-to-earn, a new way of generating income by playing.

This new technology offers endless advantages since we must be clear that technology is not static; it will not stay at the level that it is; with time, it will continue to evolve, and nothing will stop it.

Conclusion

The human being is greedy, which is why new tools and strategies emerge in his constant search to improve his quality of life.

The new digital financial market offers advantages and proposals that force the traditional need to look for new strategies that reduce risks, make traditional assets remain attractive, and can fluctuate in the company of digital assets.

Cryptocurrencies, blockchain, and Web3 are three concepts merged for a different and technologically enhanced financial economy.

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Founded in 1994 by the late Pamela Hulse Andrews, Cascade Business News (CBN) became Central Oregon’s premier business publication. CascadeBusNews.com • CBN@CascadeBusNews.com

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