TechFlow news — a16z Crypto today released its 2023 State of Crypto report and launched the State of Crypto Index, an interactive tool that tracks the health of the crypto industry from a technical rather than financial perspective. The index represents a weighted average of monthly growth across 14 industry metrics—from the number of verified smart contracts to the number of transacting wallets.
Key takeaways from the report:
1. Blockchains have more active users and more ways to participate;
2. DeFi and NFT activity appear to be rising again;
3. The number of active developers in the crypto industry remains stable;
4. Blockchains are scaling through promising new pathways;
5. Technologies that once seemed nearly impossible are becoming very real;
6. The U.S. is losing its leadership position in web3;
7. Narrowing display progress.
