Hashed: In 2026, encryption will enter the "Application to Real-World Economy Connection" stage

BlockBeats News, December 19th, Cryptocurrency venture capital firm Hashed released "The Protocol Economy: 2026 Thesis," stating that 2025 was the year when the cryptocurrency industry transitioned from "storytelling" to "execution." Real users, real transaction volume, and real revenue began to be the industry's core evaluation criteria, and stablecoins became the infrastructure for the first practical applications.

2026 will see an explosion of applications and the year of connection to the real economy: AI will reshape Web3 development and interaction, privacy will become the most significant structural issue after scalability; stablecoins will upgrade from a payment tool to a corporate operating fund infrastructure, RWAs will be the first to achieve scalable applications, on-chain private placements and sustainable yield markets will emerge, and ETH/BTC will still be the core risk cycle indicator.