Don’t wait to recover, keep building, says Web3 exec

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There are many things that can be built within the blockchain space, said Tejan Klein, co-founder of Edge & Node, the initial team behind The Graph (GRT), and the good news is that community members know what they are. ).

In an interview with Cointelegraph, Klein discussed the crypto winter and made suggestions on what community members should focus on during the markets downturn. According to the CEO of Web3, the community must stick to its core values ​​and remain determined to provide real solutions. Klein explained that:

“We are all going through a downturn together and we are all coming out of it stronger. We all support each other’s projects, and there is a virtuous cycle out there that continues to nurture the ecosystem.”

The Web3 executive also highlighted that a file Coded winter provides an opportunity for builders. This is because there is less noise during a bear market, making it what Klein describes as “construction heaven.” Klein also said:

“The community will come together and focus on building. Only committed founders and community members stay put, and it ends up being a great candidate. Some even welcome the bear market for this reason.”

Subsequently, Klein emphasized that there were still many things to be built in space, mentioning the second layer, multi-chain assembly, bridge technology, guardianship and Decentralized Autonomous Organizations (DAOs) Like some things that are on the way.

Apart from those, Klein mentioned it as well Blockchain can affect social media. “When social networking for Web 3 bears fruit, it will be a game-changer,” Klein said. In addition, the executive branch also thinks so Decentralized Exchanges (DEXs) It will eventually exceed the volume of central exchanges.

Related: Crypto Winter Survival Guide: The community shares the game plan for the bear market

When asked what members of the blockchain community should consider during the crypto winter, Klein said that some of the greatest companies and technologies were born out of recessions. The executive urged the community to continue building. Klind highlights:

“Don’t wait for the recovery to happen: keep building, focus on the primary task and remember that we are laying the foundation for the next recovery now.”

Finally, the Web3 CEO stated that the blockchain ecosystem can expect a wave of more resilient decentralized technologies to emerge from the crypto winter. Klein also said that it might be wise to focus on self-preservation, decentralization, and understanding counterparty risks.