Encryption World 2023 Review: Innovative Application Layers Emerging One After Another, Market Gradually Recovering

In 2023, the encryption market showed signs of recovery, with significant improvements in asset value and market sentiment. This year witnessed the rise of Bitcoin inscriptions, the development of tokenization of physical assets, the emergence of the DePIN field, and the anticipation of Bitcoin spot ETFs, all centered around the theme of "connection."

In March of this year, an annual selection event themed "CONNECT" came to a close. The event aimed to recognize outstanding Web3 projects, teams, and individuals from the past year, promoting the connection between Web3 and the real world, as well as the transition between old and new cycles. After nearly two months of evaluation, a total of 123 projects/companies and 10 individuals emerged as winners, receiving 21 prestigious annual awards.

Based on multiple data dimensions such as the number of on-chain addresses, the number of smart contract deployments, the number of active developers, transaction volume, and technical upgrades, three blockchain projects were awarded the Annual Outstanding Contribution Award: Ethereum, Bitcoin, and Solana. These projects have excelled in infrastructure development and technological innovation, making significant contributions to the prosperity of the encryption ecosystem.

At the application layer, the selection event covered eight categories including innovative applications, DeFi, GameFi, SocialFi, RWA, DePIN, AI + Web3 integration, and NFTs, with a total of 55 projects receiving recognition. These applications demonstrate the innovative potential and practical application value of Web3 in various fields.

In terms of public chains, the event selected 5 most vibrant public chains of the year and 20 projects with the most potential in the ecosystem. These public chains and projects excelled in user activity, developer support, network performance, and ecosystem development.

In the tools and infrastructure sector, 5 projects were rated as the best tools of the year, providing users with important data analysis and interaction support.

In the Bitcoin ecosystem, 10 inscription projects received the Annual Most Popular Inscription Award, reflecting the innovative vitality that the Ordinals protocol has brought to the Bitcoin network.

MEME tokens, as an important part of encryption culture, have seen 10 projects rated as the most popular MEME of the year, showcasing the creativity and vitality of the crypto market.

Investment institutions play an important role in promoting industry development, with 10 institutions being recognized as the best investment institutions of the year for their contributions to supporting innovative projects.

Exchanges, as important infrastructure for the encryption economy, have awarded the title of Best Exchange of the Year to five exchanges, confirming their performance in terms of security, liquidity, and user experience.

In addition, 10 industry opinion leaders were recognized as the most influential KOLs of the year, acknowledging their contributions to information dissemination and industry guidance.

As encryption technology and assets gradually enter the global mainstream view, the industry is developing towards a more stable and mature direction. This annual list not only records the achievements of the past year but also provides references and incentives for the future development of the industry.