There are many more things that can be built within the blockchain space, and the good news is that members of the community know what they are, said Tegan Kline.the co-founder at Edge & Node, the initial team behind The Graph (GRT).
In an interview with Cointelegraph, Kline discussed the crypto winter and made suggestions on what community members should focus on while markets are down.. According to the Web3 executive, the community should stick to its core values and remain determined to deliver real solutions. Kline explained that:
“We all went through the recession together and we all came out of it stronger. We all support the projects of others, and there is a virtuous circle that continues to nurture the ecosystem.”
The Web3 executive also highlighted that the crypto winter is an opportunity for builders.. This is because there is less noise during the bear market, creating what Kline describes as a “builder’s paradise”. Kline also said that:
“The community will dig in and focus on building. Only committed founders and community members stick around, and this ends up being a huge filter. Some even welcome the bear market for this reason.”
Kline went on to stress that there is still much to be built in space.citing layer 2s, multi-chain aggregation, bridging, escrow, and decentralized autonomous organizations (DAOs) as some of the things on the way.
Apart of this, Kline also mentioned that blockchain can affect social networks. “When web3 social networking comes to fruition, it will be a game changer,” he said. Kline. Besides that, The executive also believes that decentralized exchanges (DEXs) will eventually surpass the volume of centralized exchanges..
When asked what members of the blockchain community should keep in mind during the crypto winter, Kline said that some of the best companies and technologies were born out of recessions.. The executive urged the community to continue building. Kline noted:
“Don’t wait for a recovery to happen – keep building, focus on the core mission and remember that we are now laying the groundwork for the next recovery.”
Finally, Web3 executive mentioned that the blockchain ecosystem can expect a wave of more resilient decentralized technologies to emerge from the crypto winter. Kline also said it may be prudent to focus on self-custody, decentralization, and understanding counterparty risk.
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