Swappi & Nucleon Look Back on Consensus 2024

Consensus on Consensus 2024

This article was written as a collaboration between Swappi and Nucleon.

It was a crazy week at Consensus with the main event bringing together many leading figures in the blockchain space and beyond. Today, we are here to recap our journey that was our trip to Consensus 2024. Let’s jump into it.

Registration time and Conflux Marketing Manager Iryna is already on the scene

Consensus 2024, a flagship event in the cryptocurrency and blockchain space based in Austin Texas, drew an assortment of attendees with its wide range of discussions, showcasing the industry’s dynamic nature. It was a split personality between a circus-like atmosphere outside the convention center, and a deep forward-thinking event on the inside. Here are the key highlights and most discussed topics from the main event:

1. Regulatory Landscape:

• Global Regulations: Many regulators and politicians from the US and beyond spoke at Consensus much like in previous years. Speakers delved into the evolving regulatory frameworks worldwide, emphasizing the need for a balance between innovation and compliance. Discussions covered the impact of recent regulatory actions in the US, Europe, and Asia.

Political reps around the world showed up to speak on Consensus’s main stage

• Crypto Taxation: Debates around cryptocurrency taxation policies highlighted the challenges of implementing fair tax systems without stifling growth. Though many countries have a more relaxed view on crypto taxes, the US remains a hotbed of debate as to the manner tokens should be taxed.

3. AI and Blockchain Integration

• Synergies: Outside of regulation, AI was the major topic surrounding all of consensus. Panels explored how AI can enhance blockchain technology, particularly in areas such as data analysis, predictive analytics, and automated smart contract management. The synergy between AI’s data processing capabilities and blockchain’s decentralized structure was emphasized as a catalyst for innovation. As one person we spoke to put it. “The blockchain itself is a better fit for AI interaction than with humans.”
• AI-Driven Security: Discussions highlighted the role of AI in improving blockchain security, from detecting fraudulent transactions to enhancing encryption methods and fortifying network integrity.

4. Decentralized Physical Infrastructure (DePIN)

• Databases: Outside of AI, DePIN was the most visible by the number of booths at the convention. Much of this was in tandem with AI as the projects all projected themselves as specializing in various databases to optimize AI data training.
• Conflux Brought its own DePIN: Conflux Network brought the world’s first blockchain-based SIM card (bsim) to give a live demonstration of the wallet in action. Users were able to see it in action at Conflux’s booth at the IOTEX DePIN Day event and the Halborn Backyard BBQ.

5. Decentralized Finance (DeFi):

• Innovation in DeFi: Panels discussed the latest advancements in DeFi, including new financial instruments in particular real-world asset (RWA) tokenization
• Security Concerns: The rise of DeFi has brought security to the forefront, with discussions on preventing hacks, improving smart contract audits, and safeguarding user funds. Several auditing firms with relationships with Conflux Network ecosystem projects had booths at Consensus including NUCLEON’s auditor Hacken, and Swappi DEX’s auditor CertiK. Immunefi, the bug bounty project focused on rewarding users who uncover flaws in live code (and a Swappi partner), also had a booth.

6. Non-Fungible Tokens (NFTs):

• Beyond Art: Discussions moved beyond the art world, exploring NFTs’ applications in gaming, entertainment, and particularly real estate. We talked with many reps from emerging projects that were working on developing blockchain usage for real estate titling purposes.
• Gaming: Another massive potential NFT sector had many new game devs discussing the ability to run games on multiple blockchains with the use of NFT items bridging across chains to keep gameplay equal and fair no matter what chain users are playing on.

Consensus 2024 demonstrated the vibrant and rapidly evolving nature of the blockchain and cryptocurrency sectors, offering a platform for insightful discussions, networking, and setting the stage for future innovations and developments. It must be noted that while several stages with speaker panels ran non-stop across all three days, the number of booths and attendance was down from previous years.

Panels everywhere this year at Consensus

One place where attendance was not down was the side events held parallel to the main event. An example of this was the Conflux sponsored Halborn Backyard BBQ event held only a couple blocks from the convention center. The event was filled to maximum capacity with latecomers being turned away due to fire code restrictions. Over 300 people turned up for a two-hour event. This is not the only example. Many of the events were completely sold-out or oversold.

Many side events were filled to capacity

A packed event at the Halborn Backyard BBQ. We had to limit to one guest out one guest in.

Conflux’s Head of Global Marketing Camilla was constantly engaged at the Halborn event. Head of Marketing for Nucleon and Swappi Matt helped jump on stage to give a quick word about the blockchain.

Another busy event was the IoTeX DePIN House event. Vendors, and enthusiasts of decentralized physical infrastructure all came together to share their projects, and connect with projects to build a brighter future. A star of the event was Conflux’s co-founder Yuanjie who showed off the functional bsim card, and demonstrated sending CFX to visitors of the Conflux booth.

Conflux’s Camilla showing off the bsim card sending CFX to visitors

It’s easy to understand why the side events were so much more popular to attend than the main event. The first and foremost reason was networking. Nucleon and Swappi were able to meet and connect with new projects or deepen relations with others like Nucleon’s relationship with OKX Web3, and Swappi’s with dForce. Conflux Co-founder Yuanjie was at the event as well constantly surrounded by people asking questions about the bsim card and Conflux.

Matt got a game of Jenga with Conflux’s Camilla and Iryna before the OKX event started.

The OKX event filled upquick

Conflux ecosystem partners dForce and OKX wallet both saying hi.

Conflux Co-founder Yuanjie was a center of attention

The side events ensured everyone attending the events most likely had something in common. That doesn’t mean that the main event was worthless, on the contrary, it brought all of us together in the first place by covering such a wide range of blockchain topics.

It was a busy week for eveyone involved at Consensus 2024. We say good bye… for now. Consensus will be expanding worldwide next year with an event in Hong Kong. We hope to see you there!

About Swappi

Swappi is the leading decentralized exchange on Conflux eSpace and helps you make the most of your crypto in three ways: Swap, Stake & Earn, and Win.

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About Nucleon

Nucleon is a liquid staking solution for Conflux PoS backed by industry-leading staking providers. Nucleon lets users stake their CFX without locking assets or maintaining infrastructure.

Our goal is to solve the problems associated with Conflux PoS staking — illiquidity, immovability, and accessibility — making staked CFX liquid and allowing for participation with any amount of CFX to improve the security of the Conflux network.

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