Crypto Exchange CoinEx Discusses PoW, GameFi and Public Chains with Industry Majors

The team of CoinEx, a top-tier centralized cryptocurrency exchange, was joined by Web3 industry heavyweights in an amazing series of Christmas AMAs. The hottest trends of the upcoming bullish recovery were discussed alongside segment challenges and risks.

What’s next for PoW segment?

Representatives of proof-of-work blockchains are optimistic about the prospects of the segment despite Ethereum's (ETH) migration to proof of stake (PoS). Such statements were made on CoinEx’s AMA with Wolfie from Kaspa and Amaury from eCash that happened on Dec. 11, 2023.

The Kaspa representative opined that many projects are getting back to PoW as it helps to protect the blockchains from SEC hostility. Also, a miner community can spring up almost instantaneously, which is crucial for community management.

Kaspa’s speaker added that his protocol is among the few PoW blockchains that are focused on tech innovations. Kaspa introduced the BlockDAG protocol called GhostDAG, with the ability to include orphans and process simultaneous parallel blocks in consensus.

The eCash team is optimistic about the prospects of PoW coin adoption in various use cases.  When it comes to scaling, they have advantages over popular EVM L1s and L2s. UTXO-style chains such as Bitcoin can be scaled with minor changes, while EVM-like chains such as Ethereum are technically much harder to scale. However, the Bitcoin community is very resistant to change, eCash representatives added.

CoinEx discussed GameFi prospects with Binary, AAG Ventures, Chain of Eternals

On Dec. 15, 2023, an Industry Roundtable session with Rudy from Binary, Hash from Chain of Eternals, Jack from AAG Ventures and Molly, researcher at CoinEx, indicated the most crucial trends in the segment of GameFi.

Representative of prominent VC firm AAG Ventures highlighted that every Web3 game requires a long-term tokenomics strategy. With Web3 games, people expect the game to last for a long time to help sustain the price of the token. If the game is not fun and not complex enough right at the start, the value will not accrue, and more tokens will most likely be earned than spent. Then, for long-term sustainability, a large amount of content must be planned so it can last 5-10 years.

Binary’s speaker agreed with AAG Venture’s point of view regarding the utility of the token and its integration into the product. According to him, that is pretty much the main job of a GameFi game studio: understanding the utility of your token, how it is being utilized and making those micro adjustments along the way before it is too late.

The speakers agreed on the status of a fully on-chain game as a next phase of the GameFi segment's growth and scaling.

AI crypto project Injective (INJ) joins CoinEx in public chains discussion

Last but not least, Johnny from CoinEx was joined by speakers of Injective (Cooper), Ton (Vivi) and Neo (John), along with CoinEx's Research Team (Cheng), in a panel discussion on public L1 opportunities and challenges.

The participants agreed that addressing these practical problems, including user adoption, regulatory compliance and technology scalability, is essential for the successful development and adoption of blockchain applications on a large scale.

Injective’s Cooper discussed the collaboration with AI project "Time Works" and how it leverages Injective's liquidity and financial modules to facilitate the swapping and exchange of AI-related tokens.

The series of discussions was organized as a part of a celebrating campaign devoted to CoinEx’s sixth anniversary of operations.