Oky Gunawan

The article discusses the evolution of cryptocurrency and its role in the development of Web3, emphasizing that crypto is more than just a means to make money. It traces the origins of cryptocurrency back to the 2008 financial crisis, highlighting the launch of Bitcoin by Satoshi Nakamoto as a response to distrust in traditional banking. The introduction of Ethereum by Vitalik Buterin expanded blockchain's capabilities beyond transactions to include smart contracts, paving the way for Web3, where users can own and control their digital assets. The period from 2020 to 2021 saw a surge in crypto popularity, with innovations like decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs) gaining traction. However, 2022 brought a downturn known as Crypto Winter, marked by significant collapses and loss of trust in the market. By 2023, the crypto landscape began to recover, focusing on real utility and community-driven projects. The article concludes that in the Web3 ecosystem, crypto serves as a medium of exchange and plays a crucial role in enabling decentralized applications (dApps).