Development and Future Prospects of the Web3 Field

In recent years, the blockchain and Web3 fields have made significant progress in various aspects, including scalability solutions, cross-chain interoperability, decentralized finance (DeFi), non-fungible tokens (NFTs), and emerging standards such as ERC-404. The Ethereum ecosystem, as one of the most mature blockchain platforms, continues to attract the attention of many developers and investors.

ETHDenver, as an important event in the industry, has always been a hub of innovation and creativity, promoting the integration of blockchain technology, culture, and education. This year's ETHDenver is expected to attract over 20,000 community members to come together to discuss ideas, share innovations, and shape the future of blockchain technology. This event not only showcases the latest technological advancements but also fosters a sense of community and collaboration among participants.

In terms of technological development, Ethereum's scalability, privacy, and overall utility are expected to be further enhanced. Among them, the implementation of rollup technology and EIP-4884 is anticipated to bring significant breakthroughs for layer 2 scalability. Furthermore, new progress is also expected in areas such as decentralized identity (DID), DeFi, decentralized autonomous organizations (DAO), and hybrid applications. These developments will further strengthen Ethereum's core values, including decentralization, public participation, censorship resistance, and trusted neutrality.

In 2024, blockchain infrastructure and ecosystems are expected to undergo significant evolution and growth. In the DeFi space, regulation and transparency will become focal points, especially for hybrid finance (HyFi) projects. On-chain stablecoin transaction volumes may surpass those of traditional payment giants, indicating that financial transactions are accelerating their shift to blockchain foundations. In the Ethereum ecosystem, the proportion of liquid-staked ETH is expected to increase, while private transactions and gasless transactions may also become more prevalent.

The Web3 gaming sector is expected to see more complex integrations of blockchain elements and a wider variety of game types. The ERC-404 standard could fundamentally change the ownership, trading, and cross-platform integration of in-game assets, enhancing the interoperability of the gaming universe. However, attracting a broader player base remains a challenge, requiring improvements in development tools and user experience.

The NFT market is expected to continue growing and diversifying, becoming one of the main driving forces for Web3 adoption in 2024. The introduction of the ERC-404 standard may enhance the liquidity and accessibility of NFTs, attracting more investors and collectors by supporting fragmented ownership.

Overall, the Web3 field is expected to achieve deeper integration and maturation in 2024, gradually adapting to the regulatory environment. The improvement of interoperability between chains and ecosystems, combined with innovations in the gaming and NFT sectors, is anticipated to drive the entire industry towards a more mature and mainstream direction.