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Last weeks turmoil The crypto market drops 30% The subsequent rapid recovery made many people wonder what would happen next. Leaving aside the crypto circle, the discussion about the importance of building reliable, widely available applications is louder than ever. When participation is greater than guesswork, encryption will no longer be seen as a casino on the edge of the Internet.

An interesting development we have seen is that the conversation around the future of Web 3.0 is still going on on the centralized Web 2.0 platform. Obviously, the social application domain requires encryption native principles and processes. Adding privacy and security to the communication and community interaction layer will ensure that the transition from centralizing power to empowering individuals and communities will finally begin.

related: DeFi snowballing will become a Web 3.0 avalanche

I think that encryption-based social applications are the cornerstone of encryption evolution. The current chat and community spaces (such as Telegram and Discord) may be a good start, but they are still closed source, centralized, and far from being censorship-resistant. If we really want to lay the foundation for secure, open source, peer-to-peer communication flow and value exchange, then encryption-driven social applications are the way forward. As we emerge from the socially scarce but digitally intensive epidemic, a new era of social applications built on and around cryptocurrencies is beckoning us.

The desire to connect online and expand community life is obvious. Combined with crypto-native activities, such as diving into decentralized finance (DeFi) or creating, planning and collecting non-fungible tokens (NFT), it will evolve into a richer and more valuable form of online community life that will benefit all participants .

related: The role of decentralized networks in a data-rich, hyper-connected world

In particular, the crypto community has developed and developed in a variety of new and exciting ways, of which Twitter is the main discourse space, followed by Reddit, and recently Clubhouse. Discord and Telegram are mainly used as community management tools and channels for project-specific conversations.

What do they have in common? None of these platforms truly comply with the encryption principles of decentralization, privacy, and user rights. It seems inevitable to redesign social media and community spaces based on core encryption principles, not only for a safer medium of expression, but also to build an economic ecosystem focused on prosperity.

The opportunities for cryptocurrency unlocking are very diverse. We have seen it in DeFi and will continue to see it in NFT and the combination of the two. The next natural iteration will create a community space on encrypted infrastructure, where all participants have immediate access to user rights and user opportunities.

related: How NFT, DeFi and Web 3.0 are intertwined

By removing intermediaries from the value exchange processwhether communication, transaction, or pure societya new dynamic of online human interaction can be rooted in the opposite of the current role people play as Web 2.0 products.

In addition, the climax of these new technologies will be supported by social applications, and users can fully control their data, money, and even the platform itself. As user-owned social applications lead conversations on topics such as DeFi governance and the socio-economic value of NFTs, crypto users will eventually have full control over the initiative. Say goodbye to locks and locks. Encryption-driven social applications are the way forward.

This article does not contain investment advice or recommendations. Every investment and trading action involves risks, and readers should research on their own when making a decision.

The views, thoughts, and opinions expressed here are only those of the author, and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Simone Pop Is the community leader of Status, a secure messaging application, encrypted wallet and Web 3.0 browser. She previously co-founded the Bounties Network and is an active Ethereum ecosystem administrator dedicated to community participation programs, education programs, and the practical use of cryptocurrencies. Her job is to broaden everyones access to decentralized applications and encrypted dynamics, and empower individuals and communities through the token economy.

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Social applications are the next big trend in encryption - QNT