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Mass Adoption of Web3 Through the Self-Writing Internet

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Today, hundreds of millions of people own bitcoin and other tokens hosted on blockchains worth trillions of dollars.

Increasingly, though, blockchains host far more than tokens. In fact, blockchains are our future tech stack, and they can host sophisticated Web apps too, which live fully-onchain, just like tokens. These apps are implemented entirely from network-resident code (i.e. smart contract software and its evolutions).

This has huge potential: by the end of 2025, more than 5 billion people will own internet-connected smartphones with Web browsers. So what might drive them to create and use fully-onchain web apps, which can sport seamless Web3 functionality?

I believe a new blockchain revolution is imminent, thanks to advancing AI and “self-writing app” technology.

This relates to an important emerging trend called “vibe coding.” Vibe coding involves software engineers using tools with integrated AI that can write and fix software code on their behalf, making them much more productive.

The self-writing apps paradigm takes this much further, by enabling non-technical users to create, own and update apps simply by instructing AI over chat. For reasons I will explain, blockchain is in a unique position to help bring this revolutionary functionality to the world.

In the future, an individual will be able to create a personal branding website, or something like a custom wedding planning app for a family member getting married, just by talking to AI. An entrepreneur without technical staff or money will be able to create a new kind of e-commerce website, or build a sharing economy app with Web3 rails. And, an enterprise will be able to create sophisticated CRM functionality, for an infinitesimally small fraction of the investment in time and money that is currently required. All just by talking, without the need for software engineering or systems administration skills.

In this new development paradigm, everyday users will issue instructions to AI over chat, and simply refresh their web browser moments later to interact with their new or updated app.

Apps living on blockchains have a number of valuable features. They are sovereign and censorship-resistant, because they live on a public network, they are tamperproof, which means they are secure without depending on cybersecurity, incredibly resilient, and can seamlessly integrate powerful web3 functionalities because they live on-chain.

In addition, blockchain technology solves major problems involved with having AI build solo on traditional IT.

For example, the code that runs on traditional IT must be written carefully to avoid introducing security holes, and the whole platform is sensitive to security configurations, from cloud accounts, to operating systems running on cloud instances like Linux, to hosted platform software such as databases and web servers. This means traditional IT infrastructure must often be further protected by cybersecurity systems such as firewalls and anti-malware. Failover, and backup and restore, are another concern, and service providers must be trusted.

Trusting AI to build solo on traditional IT is a stretch, because even a single mistake can lead to a cyberattack that results in data exfiltration, or ransomware encrypting data.

Blockchains make it far easier for AI to build solo in many different ways. For example, the network-resident code blockchains host is “serverless,” greatly simplifying the coding tasks AI must perform, allowing code to be produced faster. On the Internet Computer network, code can also serve secure interactive web experiences directly to end users, and can store and process massive amounts of data efficiently, and even be used to build things such as a fully-onchain social network (e.g oc.app) or an important enterprise application.

At DFINITY, we are great believers in self-writing apps running on public blockchains, which we term the “self-writing internet,” and have been developing supporting technologies for some years.

For self-writing apps to reach their maximum potential, it must be possible not only for users to create them by talking, but also to continue updating and improving them in production, so they can talk until they have what they need, or a design that is optimal. Unless users can continue updating apps running in production, the total market addressed by the self-writing app paradigm will reach only a tiny fraction of its tremendous potential.

DFINITY has been developing a programming language framework called Motoko for usage by AI, as well as humans. When a user updates an app by adding or changing functionality, the AI must also describe how to update the structure of data inside the app, so that none is lost. When the AI tries to install an update, the framework is able to detect if a mistake has been made that would cause even a small amount of data to be lost unintentionally, so that it can ask the AI to try again.

We believe the self-writing internet will democratize and decentralize tech on blockchain, and are excited that a new platform called Caffeine.ai will soon be released. Just by interacting with Caffeine over chat, users will create, own and update sovereign apps on the Internet Computer, and the World Computer more broadly, which for us is the amalgamation of all blockchains that can host tokens and smart contract software.

In the future, it will be possible to say “build me a personal Google Photos, which I can share with my family and friends, where we can add comments and emoji reactions to photos,” or “build me a remittance system so I can pay my international contractors using stablecoins.”

On blockchains, human imagination, rather than technical skills, will increasingly be the limit when creating web apps. The utility unlocked will drive massive adoption of blockchain – although, oftentimes, users may not be aware that blockchain lies behind their game-changing experiences.

I have long talked about a “blockchain singularity” occurring where decentralized networks become a major new tech stack. I think this is how we get there, and the future is almost here.

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Coinbase Outpaces S&P 500 With 43% June Rise as Stablecoin Narrative Grows: CNBC

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Shares of Nasdaq-listed cryptocurrency exchange Coinbase (COIN) rose 43% this month, making the firm the top performer in the S&P 500 since it joined the index at the end of last month.

June’s run is already the stock’s best since November and caps three straight monthly gains. Coinbase’s shares reached their highest level since their public debut.

COIN hit a $382 high this week before enduring a slight correction, ending the week at $353 and seeing a slight 0.7% drop in after-hours trading to $351.

The wider S&P 500 index rose roughly 5% in June as geopolitical tensions eased.

Washington’s progress on the GENIUS Act, Congress’s first rulebook for dollar-pegged stablecoins, helped shift investor focus from trading fees to stablecoin revenue.

The bill brightened the outlook for Circle, whose shares hit a record high and saw its market cap near that of Coinbase this week.

Coinbase keeps all yield on USDC balances held on its platform and nearly half of other USDC income, equal to about 99 percent of Circle’s revenue, giving shareholders indirect exposure at no added cost, CNBC reported Friday, citing analysts including Citizens’ head of financial technology research Devin Ryan.

Trading, however, remains subdued. Average daily volume on Coinbase has drifted lower since April.

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Robinhood Launches Micro Bitcoin, Solana and XRP Futures Contracts

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Robinhood (HOOD) has introduced micro futures on bitcoin (BTC), solana (SOL) and XRP in the United States., expanding its existing crypto futures offering for its nearly 26 million funded accounts.

Micro contracts need far less collateral than full-size futures, letting traders take directional positions while committing a smaller slice of capital.

The contracts offer traders more flexibility to bet on a cryptocurrency’s future price direction or hedge current positions given their smaller size.

The launch rounds out a futures suite that began with BTC and ETH in January. It also comes weeks after the firm closed its $200 million purchase of Bitstamp and finalized a $179 million deal for Canada’s WonderFi.

Robinhood’s data shows that crypto notional volumes have exploded upward over time, reaching $11.7 billion in May. The figure marks a 36% rise month-over-month, and a 65% growth year-over-year.

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Why is XRP Up Today? Trio of Catalysts Sees Token Outperform Wider Crypto Market

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XRP climbed 5.5% to $2.19 in the last 24 hours after a trio of catalysts converged to help the cryptocurrency outperform the wider cryptocurrency market.

One of the catalysts was launch of XRP micro futures on Robinhood. The contracts offer traders more flexibility to bet on the cryptocurrency’s future price direction or hedge current positions given their smaller size.

Regulatory fog also thinned. On Friday, Ripple withdrew its cross-appeal in its long-running U.S. Securities and Exchange Commission (SEC) lawsuit. The SEC sued Ripple back in 2020 over its XRP sales, alleging these violated securities laws. The SEC is expected to drop its own appeal, leaving last year’s ruling, ordering Ripple to pay a $125 million civil penalty to the SEC, intact. The move could lift a lid that had kept some investors on the sidelines.

On-chain data rounded out the bullish setup. The XRP Ledger logged over a 1.1 million active addresses over the past week according to crypto analyst Ali Martinez, who cited Glassnode data.

XRP’s rise saw it outperform the wider crypto market, with the broader CoinDesk 20 (CD20) index rising 1.7% in the last 24 hours.

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