The State of Web3 Gaming: Innovations & Expectations

Welcome back everybody. It’s been another exciting week in crypto and we’re pleased to bring you the next edition of The Blockchain Review. 2023 is well underway and it’s time to pay attention to crypto once again. We’re surviving and the fundamentals of Bitcoin are still here. Nothing changed last year and it hasn’t changed this year.

Those of us who are willing to continue learning and increasing our knowledge now will maintain confidence in the fundamentals of blockchain technology and also be better positioned to succeed in the next bull market. We can help to share this knowledge and understanding with anybody who’s lost interest or just stepped back into their comfort zones, because lessons of the past form the wisdom of the future.

I’ve been reading more and taking the time to learn from some of the most respected people in the crypto space. There’s a lot of valuable wisdom in ‘Internet of Money’ by Andreas Antonopolous. For example there’s a criticism that often surfaces, on Bitcoins ability to scale. He describes how throughout the internet era a similar scaling challenge was and still is consistently faced and overcome.

When internet technology was first created it was incredibly slow and the bandwidth incredibly low by today’s standards, but the technology itself was still revolutionary for those with foresight. Yet at the time lots of people refused to see the bigger picture of what it could do or even entertain the idea that the scaling challenges would be overcome. 

In the late 1980’s the earliest internet networks were called ‘Usenets’ and operated between Universities and other research centers. They had the purpose of creating a place for people to come together and discuss things. A simple message would take between 30 minutes and 26 hours to deliver, it was useful to a limited set of people, but as demand grew the scaling challenge grew.

Then came emails and the demand for network bandwidth continued to increase and there was only so much which could be achieved with dial up connections through old telephone lines. The more it was successfully used by people the more the networks would become congested due to popularity. 

The same thing happened with demand for web pages, then voip, then streaming, and soon it’ll be the AI revolution with demand for things like driverless cars when in theory there’ll be nothing to stop the growth of the use of the internet. With networks you can succeed at one use case then you fail at the next because of the demand. But the key is with the popularity of the network people are adequately incentivized to find a way to overcome the scaling challenge at every stage.

There have been decades of people saying the internet will fail to scale. We’ve had over a decade of people saying Bitcoin won’t scale and less than a decade of people saying Ethereum won’t. When we all keep continuing to use these networks then there are enough incentives for people to keep finding solutions for them to scale!

We’ll always provide you with our research to help with your education. We’ll keep close track of the main developments and evolution of the niches in blockchain so that you get the best of the new knowledge. When you’ve finished reading your report then please remember to fill out the feedback form, your research is valued and we’re always open to suggestions.