Analysis Crypto by Thebittimes.Com

Cointelegraph Accelerator to hold the next Investor Demo Day on Nov. 30 in collaboration with Cipholio, Bitmart, Leadblock Partners and MetaEra. The Web3 ecosystem might have weathered a dry year during 2023 in terms of venture capital (VC) funding, but it surely had its highlights with many bountiful investments across a wide range of niches. The most recent data indicates that Web3 startups have raised around $6 billion so far in 2023 — a sharp decline from over $25 billion in funding the ecosystem enjoyed in 2022. While the impact of the “crypto winter” was felt over the last few quarters, 2023 brought some of the most successful funding rounds in the Web3 space. The Web3 industry started the year with a bang, witnessing a flurry of significant funding rounds. Blockstream, a digital asset company, set the tone with a mammoth $125 million round, followed by Chain Reaction, a blockchain chip startup, which secured $70 million. LayerZero, a cross-chain messaging protocol, added to the...

How a one-stop DeFi ecosystem can drive mass adoption by reducing fragmentation and improving onboarding. Decentralized finance (DeFi) holds great promise thanks to the unique characteristics of blockchain, including transparency, immutability and decentralization. It can democratize access to financial services and transfer the decision-making power from centralized entities to communities. Navigating the complex DeFi ecosystem Despite its undeniable potential, DeFi has a significant problem to overcome before achieving mass adoption: fragmentation. This fragmentation results from an acute lack of interoperability between major decentralized networks and specific DeFi use cases. Communication between the growing number of DeFi applications is quite fragile, forcing users to register multiple platforms, buy multiple utility and governance tokens, and share their wallet permission with many decentralized applications (DApps) to enjoy the full palette of DeFi services. The current scena...