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As you could read by the title, today i’m presenting you a post-Meta trend - but what exactly Meta has to deal with the Web3 space? Let’s dive in
The crypto and blockchain space has gone through a notable need, that starting from last year, tackled into the market; the quest for Scalability, and above all through a highly performant Layer 1 blockchain.
This last one has led to a vertical commit, oriented to the possibility of overcoming Ethereum thanks to innovation, and at the same time differentiating from it, becoming so a new star in what is the blockchain universe and ultimately embracing a multi-chain enviroment where every ambient, or blockchain ecosystem, is enhanced for its strenghts and own features and have relationships with other ambients through communication protocols which manage an effective and efficient inter-operability, that finally bring value-making connections (Cosmos has been surely a promoter of this narrative and philosophy).
Now, this situation is a link for the alternative L1 aiming at being non-EVM, and at solving the so called “Blockchain Trilemma” that has to offer a great and co-operative rapport and synthesis of 3 core values: Decentralization, Security and Scalability.
Many blockchain projects arised, and in 2022 some of these reached top market cap positions, spreading throughout 2021 and the first quarter of 2022, the L1 Mania. A linear disillusion came clearer, problem after problem; Solana has been offline 5 times in 2022, Elrond got exploited through the Maiar DEX, Terra died etc.
But innovation was also introduced in crypto markets thanks to L1 competition, that saw scalable blockchains oriented to increase TVL and so gaining more market share, to further improve when overcoming a certain threshold of active users and investors.
We could in fact see how innovation, despite the bear market, still remains high.
So among every value, Scalability covered a prevalent position in the Blockchain innovation, specifically one that would be cheap, fast and with a great UX. This last value played, and is playing, a fundamental role in the contribution of two complementary trends, aiming toward scaling DeFi adoption and more in general Web3 applications’ one. These initiatives take place by the need of something highly performant, that could provide potentially many sub-initiatives with related and annexed use-cases. Another need comes out to have a “clearer, but builder and dev-friendly use” of what is made within blockchain.
The first trend therefore is related and oriented to “masses”, because since scalability is enhanced, this one could handle more users.
Now, the word “Mass” (considered out of Astro-Physics) is nowadays definitely over-used, such that it has usually gained negative connotations while actually a mass is an amorphous subject made of individuals, the context give identity to. Coming back to its use in the blockchain space and how could it identify a trend, try to notice the bio of blockchain projects or L1s; “the blockchain for the next 1b users” or again “the next-gen blockchain for masses”.
This little trick soon reveals the second connected trend, that as said before, not only reaches a high quantity of TPS (Transactions per second), but also builds an infrastructure that embraces a general-purpose logic. These type of projects can host DeFi, GameFi, NFT projects and so on, all with a Web3 approach as a base. There could be the possibility also to aggregate all the projects and applications into a great and big interface, like a Menu that gives an orderly access to the whole ecosystem.
We can find a parallel use of unification to a better and simple user experience in NFT Aggregators, like Genie or Gem. Again, the Binance Half-Year Report of 2022 shows how this specific sector has seen an uptrend in market share, rising from 1% to 5% market share:
That said, recently two startups are strongly jumping on the visions introduced above - Aptos Labs and Mysten Labs
These two startups have a common point; they were founded by ex-Meta employees who worked at the blockchain side of Meta called Novi.
Aptos Labs is a blockchain project (L1) that is trying to solve the Blockchain Trilemma, and whose mission is to build a scalable, secure, decentralized and cheap blockchain. A partnership with Google Cloud has been made, in order to let anyone powering a node in 15 min or less. Source:
https://www.theblock.co/post/142883/aptos-labs-strikes-first-cloud-partnership-deal-with-google
The project comes, in part, from Meta. Diem in fact, the blockchain Meta was trying to build in order to onboard its 2+ bn userbase toward and into this technologic solution and “virtual world”, has been stopped and while a part of the technology has been sold, the rest was turned open-source.
So, Aptos Labs decided to take advantage of the work done and not to waste the tech; they decided therefore to use it as a pillar to develop and build on, adding further improvements and other features.
The two ex-Meta employees or Aptos founders Mo Shaikh - formerly Head of Partnerships at Meta . and Avery Ching - formerly Principal Software Engineer at Meta’s internal Blockchain Solution . have raised 200M$ with Aptos, in a funding round confirmed in March 2022, with big VCs and Investors like MultiCoin Capital, Coinbase Ventures, FTX Ventures, Binance Labs and more, but among these investors there was also PayPal, with its first investment in a base layer. Source:
The Aptos blockchain aims to be launched toward Q3/Q4 2022. Currently a Tesnet program is live and it is divided into 4 phases of AIT (Aptos Incentivized Tesnet). This program wants to scale up validators in order to be ready for the mainnet launch, find bugs and fix them, securing the fact that the mass-scale amount of TPS (currently 150k+ on testnet) will be the same in the mainnet as well, and obviously attracting devs and users for a better start and bootstrap.
A unique feature of Aptos can be found in its code language - Move. It was built 3+ years ago and designed for safe asset management. It’s more versatile than Solidity and simple to use, but with a strong eye for performance and security. It so allows zero downtime updates of both the Aptos Network and the Aptos Move Framework.
The Aptos ecosystem, also thanks to Move is growing rapidly. Yet 100 projects are building on Aptos. Here some of them:
Many other protocols are deciding to build on Aptos, so this interest fan really represent an opportunity to see and study an ecosystem’s growth and evolution. Furthermore it will be very interesting to see how this project is going to impact the space. Is Aptos going to be something detached from what is going on with Ethereum for instance (the L2 narrative, scalability solutions etc…) ?
Another Former-Meta employees’ Blockchain - Mysten Labs
Mysten Labs is born in a similar way Aptos did. The startup was in fact formed by four ex-Meta employees who decided to quit the job and build their own blockchain through the ashes left by Diem.
Mysten Labs’ blockchain is called Sui, its scope is that of building infrastructure completely aligned with the Web3 philosophy andò ethic, allowing with the high scalability, the mass-adoption. Like Aptos, Sui as well utilizes Move as a language, so the competition between the two won’t be negligible. We are going to call them “the (ex)Meta wars”; this will likely represent another case study to look for.
Talking of funding, Mysten has raised 36M$ in a Series A round led by Andreessen Horowitz in December 2021, while now is about to raise 200M$ in a Series B funding round led by FTX Ventures. Source:
As we can see who is less suffering the bear market, is making strategic investments or acquisitions. A related data analysis to look in parallel with this last narrative, is the funding in the DeFi space, that at the time writing is at all-time high:
The Sui blockchain is having a rather big mediatic exposure, on Twitter more than others. As for Aptos, Sui is witnessing a growing number of projects built on top of it. Very recently, for instance, Ethos wallet has announced its birth and motivated why they chose Sui, and therefore simplicity, friendly and intuitive UX and the possibility of surfing the wave of an early stage project full of growth potential.
Aptos and Mysten are surely two projects to keep an eye on, also because their investors are strong expert in the crypto and web3 sector and could really help in their progress and growth.
Another point of interest is linked with the current situation which sees a progress in zk roll-ups technology (zk-EVM), see Polygon announcement:
https://twitter.com/0xPolygon/status/1549716947847479302?t=TmVF-uartXkpeYDDXiXYyQ&s=19
It will be curious to see how the L2 train will be managed by the two start-ups.
Finally the competition and following strategies to innovate and grow may represent or form new marketing Web3-related incentives, vampire-attacks design, application and preference-making or preference-switching (from a protocol to another) design strategies.
I hope you liked this and learned something new✔️
• Also follow me on Medium:
As you could read by the title, today i’m presenting you a post-Meta trend - but what exactly Meta has to deal with the Web3 space? Let’s dive in
The crypto and blockchain space has gone through a notable need, that starting from last year, tackled into the market; the quest for Scalability, and above all through a highly performant Layer 1 blockchain.
This last one has led to a vertical commit, oriented to the possibility of overcoming Ethereum thanks to innovation, and at the same time differentiating from it, becoming so a new star in what is the blockchain universe and ultimately embracing a multi-chain enviroment where every ambient, or blockchain ecosystem, is enhanced for its strenghts and own features and have relationships with other ambients through communication protocols which manage an effective and efficient inter-operability, that finally bring value-making connections (Cosmos has been surely a promoter of this narrative and philosophy).
Now, this situation is a link for the alternative L1 aiming at being non-EVM, and at solving the so called “Blockchain Trilemma” that has to offer a great and co-operative rapport and synthesis of 3 core values: Decentralization, Security and Scalability.
Many blockchain projects arised, and in 2022 some of these reached top market cap positions, spreading throughout 2021 and the first quarter of 2022, the L1 Mania. A linear disillusion came clearer, problem after problem; Solana has been offline 5 times in 2022, Elrond got exploited through the Maiar DEX, Terra died etc.
But innovation was also introduced in crypto markets thanks to L1 competition, that saw scalable blockchains oriented to increase TVL and so gaining more market share, to further improve when overcoming a certain threshold of active users and investors.
We could in fact see how innovation, despite the bear market, still remains high.
So among every value, Scalability covered a prevalent position in the Blockchain innovation, specifically one that would be cheap, fast and with a great UX. This last value played, and is playing, a fundamental role in the contribution of two complementary trends, aiming toward scaling DeFi adoption and more in general Web3 applications’ one. These initiatives take place by the need of something highly performant, that could provide potentially many sub-initiatives with related and annexed use-cases. Another need comes out to have a “clearer, but builder and dev-friendly use” of what is made within blockchain.
The first trend therefore is related and oriented to “masses”, because since scalability is enhanced, this one could handle more users.
Now, the word “Mass” (considered out of Astro-Physics) is nowadays definitely over-used, such that it has usually gained negative connotations while actually a mass is an amorphous subject made of individuals, the context give identity to. Coming back to its use in the blockchain space and how could it identify a trend, try to notice the bio of blockchain projects or L1s; “the blockchain for the next 1b users” or again “the next-gen blockchain for masses”.
This little trick soon reveals the second connected trend, that as said before, not only reaches a high quantity of TPS (Transactions per second), but also builds an infrastructure that embraces a general-purpose logic. These type of projects can host DeFi, GameFi, NFT projects and so on, all with a Web3 approach as a base. There could be the possibility also to aggregate all the projects and applications into a great and big interface, like a Menu that gives an orderly access to the whole ecosystem.
We can find a parallel use of unification to a better and simple user experience in NFT Aggregators, like Genie or Gem. Again, the Binance Half-Year Report of 2022 shows how this specific sector has seen an uptrend in market share, rising from 1% to 5% market share:
That said, recently two startups are strongly jumping on the visions introduced above - Aptos Labs and Mysten Labs
These two startups have a common point; they were founded by ex-Meta employees who worked at the blockchain side of Meta called Novi.
Aptos Labs is a blockchain project (L1) that is trying to solve the Blockchain Trilemma, and whose mission is to build a scalable, secure, decentralized and cheap blockchain. A partnership with Google Cloud has been made, in order to let anyone powering a node in 15 min or less. Source:
https://www.theblock.co/post/142883/aptos-labs-strikes-first-cloud-partnership-deal-with-google
The project comes, in part, from Meta. Diem in fact, the blockchain Meta was trying to build in order to onboard its 2+ bn userbase toward and into this technologic solution and “virtual world”, has been stopped and while a part of the technology has been sold, the rest was turned open-source.
So, Aptos Labs decided to take advantage of the work done and not to waste the tech; they decided therefore to use it as a pillar to develop and build on, adding further improvements and other features.
The two ex-Meta employees or Aptos founders Mo Shaikh - formerly Head of Partnerships at Meta . and Avery Ching - formerly Principal Software Engineer at Meta’s internal Blockchain Solution . have raised 200M$ with Aptos, in a funding round confirmed in March 2022, with big VCs and Investors like MultiCoin Capital, Coinbase Ventures, FTX Ventures, Binance Labs and more, but among these investors there was also PayPal, with its first investment in a base layer. Source:
The Aptos blockchain aims to be launched toward Q3/Q4 2022. Currently a Tesnet program is live and it is divided into 4 phases of AIT (Aptos Incentivized Tesnet). This program wants to scale up validators in order to be ready for the mainnet launch, find bugs and fix them, securing the fact that the mass-scale amount of TPS (currently 150k+ on testnet) will be the same in the mainnet as well, and obviously attracting devs and users for a better start and bootstrap.
A unique feature of Aptos can be found in its code language - Move. It was built 3+ years ago and designed for safe asset management. It’s more versatile than Solidity and simple to use, but with a strong eye for performance and security. It so allows zero downtime updates of both the Aptos Network and the Aptos Move Framework.
The Aptos ecosystem, also thanks to Move is growing rapidly. Yet 100 projects are building on Aptos. Here some of them:
Many other protocols are deciding to build on Aptos, so this interest fan really represent an opportunity to see and study an ecosystem’s growth and evolution. Furthermore it will be very interesting to see how this project is going to impact the space. Is Aptos going to be something detached from what is going on with Ethereum for instance (the L2 narrative, scalability solutions etc…) ?
Another Former-Meta employees’ Blockchain - Mysten Labs
Mysten Labs is born in a similar way Aptos did. The startup was in fact formed by four ex-Meta employees who decided to quit the job and build their own blockchain through the ashes left by Diem.
Mysten Labs’ blockchain is called Sui, its scope is that of building infrastructure completely aligned with the Web3 philosophy andò ethic, allowing with the high scalability, the mass-adoption. Like Aptos, Sui as well utilizes Move as a language, so the competition between the two won’t be negligible. We are going to call them “the (ex)Meta wars”; this will likely represent another case study to look for.
Talking of funding, Mysten has raised 36M$ in a Series A round led by Andreessen Horowitz in December 2021, while now is about to raise 200M$ in a Series B funding round led by FTX Ventures. Source:
As we can see who is less suffering the bear market, is making strategic investments or acquisitions. A related data analysis to look in parallel with this last narrative, is the funding in the DeFi space, that at the time writing is at all-time high:
The Sui blockchain is having a rather big mediatic exposure, on Twitter more than others. As for Aptos, Sui is witnessing a growing number of projects built on top of it. Very recently, for instance, Ethos wallet has announced its birth and motivated why they chose Sui, and therefore simplicity, friendly and intuitive UX and the possibility of surfing the wave of an early stage project full of growth potential.
Aptos and Mysten are surely two projects to keep an eye on, also because their investors are strong expert in the crypto and web3 sector and could really help in their progress and growth.
Another point of interest is linked with the current situation which sees a progress in zk roll-ups technology (zk-EVM), see Polygon announcement:
https://twitter.com/0xPolygon/status/1549716947847479302?t=TmVF-uartXkpeYDDXiXYyQ&s=19
It will be curious to see how the L2 train will be managed by the two start-ups.
Finally the competition and following strategies to innovate and grow may represent or form new marketing Web3-related incentives, vampire-attacks design, application and preference-making or preference-switching (from a protocol to another) design strategies.
I hope you liked this and learned something new✔️
• Also follow me on Medium:
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