How has blockchain technology evolved in recent years? What will the future of Web3 look like? How will cross-chain systems impact average Web3 users?

Web3 is a back-end revolution that intends to combine the logic of the internet with the logic of the computer. As technology grows, people have created different blockchains to solve different issues, and the need for them to communicate with each other has arisen. That’s where cross-chain communication comes in.

Today’s guest, Barbara Liau, is the COO of Nomad, a security-first cross-chain messaging protocol, and she’s giving us insight into what’s being built now on Web3 and how it will impact everything.

In this episode, Barbara shares how she got into the Web3 space, her unique approach to investing in NFTs, why we have to get comfortable with failure, how cross-chain systems like Nomad benefit everyday users, and more.

Highlights

Barbara’s introduction to blockchain

How the industry has evolved over the past seven years ago

Barbara’s couch NFTs and her eclectic approach

Why Barbara describes herself as a collector of hobbies

The inevitable failures that come with being early

The advantage of having an experimental mindset

Barbara’s most significant losses in the Web3 space

Strategies you can use to simplify investing in crypto

Barbara’s people-centered investment philosophy

Where we are with cross-chain ecosystems

Nomad’s unique position of prioritizing security and cost

The types of problems cross-chain messaging can solve

How bridges work in Web3

What Barbara sees as the future of decentralization

Why Nomad has always prioritized cross-chain governance

Key terms

NFT: Non-fungible tokens; An entry on a blockchain establishing who has ownership of a digital item.

Layer 1: A term used to describe the base blockchain architecture, with a layer 1 network serving as a source of truth and the authority for transactions via consensus mechanisms.

Layer 2: A term describing a network building on top of an underlying blockchain, intended to extend its functionality and reduce gas fees and transaction times.

Minting: The practice of issuing a new piece of art as an NFT, by turning it into a digital token that’s recorded on the blockchain. The process is typically handled by a marketplace.

Protocols: A set of rules that allow data to be shared between computers. For cryptocurrencies, they establish the structure of the blockchain — the distributed database that allows digital money to be securely exchanged on the internet.  

Definition sources: https://www.gmw3.com/2022/02/web3-glossary/, https://www.coinbase.com/learn/crypto-basics/what-is-a-protocol

Connect with Barbara Liau

Barbara Liau on Twitter https://twitter.com/barbaraliau

Nomad’s Website https://www.nomad.xyz/

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