New invention in the Blockchain industry

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New inventions are often divided into two types, the first is the invention of technology, and the second is the invention of the model. New technological innovations in particular to develop new technologies to solve current problems. It usually focuses on the technical level, so it is necessary to perform tasks and tasks that were not previously available. For example, Bitcoin has opened up new blockchain-like technologies, Ethereum has developed smart contracts and virtual EVM equipment, UniSwap has improved AMM marketing, and other cross-chain and -NFT is a new technology.

Technological innovation is the basis of innovation, and the invention of the model is based on the invention of technology. It focuses on the effective implementation of economic laws and models, such as various DEFI and Staking deposit promises, liquidity mines, various NFT-linked NFF games and blockchain games, AMM market support for cross-chain and pools guns on various machines, etc.

In the main sense, technological innovation is very important, while the new model is to develop past economic models and participatory approaches, and make the actual product different from the rest of the experience, thus making the industry shine until the industry stands out. the bull market market cycle is produced, of course, both technological innovation and model innovation are essential to the process of innovation, and both in a cohesive relationship.

Currently, most of the innovations in the blockchain industry are actually in favor of a new model. Although the introduction of the model can make the industry grow faster, due to strong competition, it is likely that most of the projects may fail, and only a few strong projects are left on the market. Innovation of technology is inevitable. Since the birth of Bitcoin, there have been very few technological innovations. Most projects are biased towards modeling, and many of them copy old technologies, apply new ideas, and create hype in the market. In fact, the same group of people may be formed.

The concept of DEFI began to emerge in 2019, and the fundraiser has been popular for 20 years. Looking back, at the age of 17, some celebrities in the money market began to put forward the concept of "open money", Open finance actually moving the traditional financial game to the block chain. For example, our current debts, promises, transactions, power, etc. The biggest difference is that DEFI is dependent on the blockchain and banks are not dependent on the blockchain.

Then when we refer to a common financial game, defi may have financial products such as "bonds", "funds", ETFs, stock financing, and fixed assets in the future.

Similarly, GameFi is a 17-year run for crypto cats and 18 years for chain games, while Metaverse is a combination of unique online games and VR technology. New models such as ICO are also being modeled on the traditional stock market IPO. After 17 years of thunder, no one has ever said it now. This kind of truth often finds a wave of speculation in the market, and is hard to keep up. Many "disruptive" blockchain applications have finally disappeared. In fact, if we look at some of the most popular ICO projects that have emerged in 2017, we can find that many of the concepts involved in this project have now gained a lot of hype.

New technological innovations often require a certain amount of collection to explode completely, and it is difficult to be recognized by the market in the short term. Even if it can be updated in a short time it means it is not sustainable, because a compatible ecosystem for innovation cannot be created in a short time.

For example, layer2 has been discussed for many years, but the ecology of layer2 in Ethereum is not yet mature, and after waiting half a year the market money leaves the DeFi market and turns to GameFi and Metaverse, which also presents new technological difficulties.

Similar situations like NFTs and Defi's new projects are actually unpopular as soon as they emerge, but after further testing and market acceptance, they can explode. As we have said before, it is also true to pay attention to new technologies at the end of the bull market, because this kind of innovation may be the key to the next bull market.

Although a large number of ideas are being promoted in the bull market, in reality, the sustainability of these needs to be greatly questioned. In fact, many factors will affect the process of project development, such as financial considerations, policies, etc. Moreover, it is not easy for many blockchain projects to solve the problems facing traditional industries.