- Sandeep Nailwal envisions Web3 gaming as a catalyst for widespread crypto adoption, highlighting its potential.
- Nailwal emphasizes the importance of progressive decentralization in blockchain protocols and applications.
- While acknowledging speculation’s positive and negative impact, Nailwal compares it to historical industry growth phases.
According to Sandeep Nailwal, who is a co-founder of the Ethereum scaling platform Polygon, he envisions that Web3 gaming will ultimately emerge as a significant catalyst for widespread cryptocurrency adoption.
During a Reddit Ask Me Anything (AMA) session in the r/India community on May 25th, Nailwal was questioned about his perspective on practical applications of blockchain technology beyond trading and payments that can genuinely scale and be implemented in real-life scenarios.
Nailwal expressed his belief that gaming holds the greatest potential for the widespread adoption of cryptocurrencies, stating:
There are some top games launching in Web3 in the next 6-18 months and it would be very interesting to see if some of them are able to crack the crypto code. Last year itself there was $2 billion+ in funding for Web3 games.
Sandeep Nailwal, co-founder polygon
Nailwal highlighted the significant role of Polygon, along with its ecosystem partners such as IMX (Immutable X), in securing a significant portion of funding for games. He expressed optimism and anticipation for some of these games to achieve substantial success.
In March, Polygon and Immutable X announced their partnership to develop a scalable gaming blockchain that leverages Polygon’s EVM-compatible zk-rollup technology. The network is scheduled for launch in the near future and aims to enhance blockchain games by improving speed and introducing other advancements.
Expanding on a related topic, Nailwal was asked about his perspective on whether cryptocurrency has become excessively speculative.
While Nailwal did not deny the claim, he acknowledged that speculation has had both positive and negative impacts on the cryptocurrency industry. He described it as a double-edged sword, recognizing that speculation has brought advantages as well as challenges to the crypto space.
Nailwal pointed out that speculation in the cryptocurrency industry has been beneficial in attracting talented individuals to the field. However, he also acknowledged that a considerable portion of users and applications in the industry are driven by speculation.
He further made a comparison to historical events such as the Gold Rush and the Dot-com boom, noting that the early stages of promising industries often witness a high level of speculation. This perspective suggests that while speculation can bring challenges, it is not uncommon in the growth phases of significant industries.
When questioned about his views on decentralization, Nailwal acknowledged that the cryptocurrency space is still in its early stages. He expressed the belief that, apart from Bitcoin and Ethereum, no other blockchain ecosystem has achieved full decentralization.
However, he emphasized that initial full decentralization is not a prerequisite. Nailwal stated that what truly matters is the concept of progressive decentralization, where protocols and applications gradually become more decentralized as they gain greater importance and adoption.
This viewpoint suggests that while complete decentralization may not be immediate, it is crucial for blockchain systems to strive toward increasing decentralization over time.
In response to the inquiry about Polygon’s low Nakamoto Coefficient rating, which measures decentralization in blockchain networks, Nailwal acknowledged the rating but did not provide a direct response to it.
It should be noted that my training only goes up until September 2021, and I cannot provide real-time updates. Therefore, the information I have is based on that timeframe. To obtain the most accurate and up-to-date information on Polygon’s current decentralization status and Nakamoto Coefficient rating, it would be best to refer to official sources or reach out to Polygon directly.
