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Nischal Shetty, Founder and CEO Of WazirX, Discusses Web3.0

18-Sep-2022 By: Divya Behl
Nischal Shetty, Foun

WazirX on W3

Nischal Shetty, founder and chief executive officer of the Indian crypto-assets exchange WazirX, has spent the past 228 days using Twitter to advise followers on how to create successful web3.0 platforms, metaverses, and communities. The significance of letting your community flourish while constructing a decentralised platform was the subject of his final tweet, which he posted on September 17.

He went on to describe how Twitter was the first central platform to allow APIs for people to build on, and how Facebook, iOS, and Android all followed suit. However, they quickly began to limit and compete with their own developer ecosystem, and they began to create app features that were only available through third-party apps.

Shetty spends much of his day tweeting, where he shares insights and develops decentralised networks. In a tweet sent out on Day 226, he praised the Ethereum development team for the merge event that allowed the network to move to a less power-hungry technology.

In another tweet, the CEO outlined the many benefits that Web2.0 may bring to Web3.0, including growth hacks, growth tools, analytics, other SAAS, and a change in emphasis on the importance of people. Shetty has previously emphasised that Web1.0 was about about disseminating information, while Web2.0 was all about establishing a social network, and Web3.0 is all about establishing a value web.

In general, Nischal supports decentralisation. He frequently discusses DAOs and their capacity to provide leadership decided unanimously, answering the question of "who will lead?" in settings where users merely wish to take part.

This is why Shetty is hard at work on Shardeum, a smart contract platform that is EVM-based, linearly scalable, and allows for cheap gas expenses. Maintaining genuine decentralisation and robust security, Shardeum employs dynamic state sharding.

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