They took 2023 by storm: Five trends that marked this year!

Crypto industry must-have trends have taken 2023 by storm, so what trends have we witnessed this year?

Trends, one of the most critical elements of the cryptocurrency market, have had a solid impact in 2023 as well. Seeing new trends in 2023, albeit inspired by past periods, has been a difference for both the industry and crypto investors. When we look back at 2023, which trends have been the most severe? Which projects have left their mark on the market related to these trends?

1- Artificial Intelligence (AI)

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AI is the abbreviation of the English concept of "Artificial Intelligence". The concept, which is translated into Turkish as artificial intelligence, is a software consisting of codes to perform a number of tasks or conditions, unlike normal human intelligence.

Since this software is based on machine learning and the ability of machines to think independently, it has been in an artificial position, unlike the intelligence of humans. The concept of artificial intelligence, which we hear especially in robotic technologies, is a series of pieces of code created for machines to think and produce solutions about related problems.

AI cryptocurrencies refer to cryptocurrencies created under the umbrella of a project focused on artificial intelligence in the crypto industry. With artificial intelligence, it is possible to produce products such as both machine learning and ChatGPT. Since the concept of artificial intelligence works in cooperation with big data, a significant amount of data and input is required to develop an artificial intelligence.

With cryptocurrency and blockchain technology, all these potential and application areas can be realized in a decentralized manner. In addition, with blockchains with a transparent structure, data is open to everyone and has a more reliable structure. In this respect, the development of the AI field with blockchain and cryptocurrencies has a new opportunity for investors in this field.

The most well-known cryptocurrencies in the field of AI are AGIX – FET – GRT – OCEAN and RNDR.

##2- Real World Asset (RWA)

A Real World Asset (RWA) is any entity that can be tokenized and represented on the blockchain using blockchain technology. They often refer to traditional financial assets such as real estate, industrial machinery, stocks, bonds, commodities, and even services.

Blockchain technology can fully digitize RWAs to make them more accessible, reliable, transparent, and easily traceable, which allows those who want to invest in these assets to transact. This allows them to reduce the costs associated with the use and operation of the products.

The most well-known cryptocurrencies in the RWA field are RIO – GFI – PENDLE – MAPLE and POLYMASH.

##3- Memecoins

Memecoins are cryptocurrencies that are associated with a number of themes, often as memes (jokes) rather than a serious symbol. The factors that make meme coins "memes" are internet memes, current events and online communities, influencers. For example, with Elon Musk's endorsement of Dogecoin, Shibu Inu (SHIB) and Floki (FLOKI) have become popular as meme coins. Especially with its launch in 2023, BONK and PEPE have made an incredible contribution to the memecoin hype.

Another factor that has always had a great impact on cryptocurrency culture has been Influencers, but this influence has increased even more recently. When Elon Musk endorsed Dogecoin, the original meme cryptocurrency, he was promoted by influencers on social media platforms such as TikTok and significantly increased his influence.

The most well-known cryptocurrencies in the field of mememcoins are DOGE – SHIB – PEPE – BONK and FLOKI.

##4- SocialFi (SoFi)

SocialFi is a concept that bridges the gap between social media and finance. Social finance aims to transform users' social interactions and participation into financial value. This concept has emerged with blockchain technology and cryptocurrencies.

The main purpose of SocialFi is to reward users through social tokens and provide financial benefit for their interactions on social media platforms. These tokens are given to users for their activities such as being active on the platform, creating content, interacting with other users, etc. This way, users can earn more social tokens by interacting and contributing more on social media platforms.

The names that have left their mark on SocialFi have been StarsArena – PostTech and FriendTech.

## 5- Proof of Work (PoW)

Proof of Work (PoW) is a widely used consensus mechanism in the world of blockchain technology. It is a type of algorithm that requires a significant amount of computational power to solve, and this ensures that only those with the necessary resources can participate in the mining process. This is important because it prevents malicious actors from controlling the network and manipulating it for their own benefit.

In a PoW system, miners try to solve complex mathematical puzzles with each other. The first miner to solve the puzzle can add the next block to the blockchain and will be rewarded with a certain number of tokens or coins. Because these puzzles require a significant amount of computational power to solve, they create a barrier against malicious actors trying to control the network.

To understand how PoW works, let's take a look at the mining process on a PoW-based blockchain. When a new transaction is added to the network, it is broadcast to nodes across the entire network. These nodes are the first to try to solve the puzzle related to the process. The first node to solve the puzzle can add the transaction in the next block and will be rewarded with a certain number of tokens. This process goes on indefinitely, with new transactions being added to the blockchain and new blocks being added by the winning miner.

The most prominent cryptocurrencies on the PoW side are BTC – DOGE – LTC – BCH – ETC and KAS.