In-Depth Exploration of Crypto Native: From Concept to Practice

The concept of Crypto Native in the crypto world originates from the inheritance of decentralized thinking. This idea can be traced back to the creation of Satoshi Nakamoto and Bitcoin. As the cornerstone of cryptocurrency, Bitcoin's underlying decentralization principles and trustless mechanisms lay the foundation for the Crypto Native concept.

Since the advent of Bitcoin in 2008, the world has welcomed the first batch of Crypto Native communities. After experiencing some early events, Bitcoin entered a period of stagnation in 2011. This group of people who truly own and trade Bitcoin firmly believes in cryptographic algorithms and blockchain technology, advocating the concept of "code is law." At that time, Crypto Native referred to those who believed in cryptographic algorithms and simultaneously owned and used Bitcoin.

Over time, Bitcoin has been given the title of "digital gold," and its commodity attributes have gradually become more prominent. The influx of a large number of people and funds has driven the early infrastructure development of the crypto industry, including mining machines, payment scenarios, trading platforms, and financial derivatives.

In 2014, Ethereum founder Vitalik Buterin released the first version of the Ethereum white paper and conducted an ETH presale. Subsequently, the Ethereum Virtual Machine (EVM) and smart contracts were born, marking the entry of the crypto industry into a new era. At this time, the scope of Crypto Native expanded to include various cryptocurrencies, including Ethereum, but this group still firmly believed in the cryptocurrency system established by cryptography and blockchain technology.

The development of the Ethereum ecosystem has sparked people's imagination about the public chain ecosystem. The emergence of new financing methods such as ICOs, as well as the increasing number of decentralized applications (dApps), has demonstrated the practical application value of blockchain. At the same time, the development of on-chain financial derivatives has also promoted the prosperity of centralized exchanges.

Since 2017, the term Crypto Native has gradually gained attention on social media. Initially, it was used to describe young entrepreneurs involved in cryptocurrency-related projects. This group is considered more adaptable to new lifestyles and ways of thinking, capable of quickly integrating into the crypto world.

As time goes by, the meaning of Crypto Native continues to evolve. Some view it as a new era and lifestyle, believing that crypto technology will quietly change people's daily lives. There are also opinions that Crypto Native represents a new way of operating companies, built on code and settled through blockchain, serving as an evolved version of joint-stock companies under the traditional legal system.

By 2020, some began to define Crypto Native from both personal and business perspectives. Crypto Native individuals are described as those who purchased cryptocurrencies before owning any other traditional assets. Crypto Native businesses are defined as protocols that support decentralized functionalities that were originally provided by centralized finance or traditional finance.

From 2020 to 2022, the rise of DeFi, NFTs, and GameFi brought unprecedented imagination and high valuations to the industry. However, the hype will eventually fade, and speculation will ultimately fail. When the market returns to rationality, all Crypto Natives need to re-examine the fundamentals and intrinsic values of the industry, and return to their original intentions.

The core features of Crypto Native include decentralization, trustless mechanisms, permissionless participation, and personal sovereignty. Decentralization means there is no single institution for macro control. Trustless mechanisms provide a way of cooperation based on objective proof rather than subjective promises. The permissionless feature allows anyone to freely participate in both the supply and demand sides of the market. Personal sovereignty emphasizes that ownership of data and assets belongs to individuals.

Today, more and more people are paying attention to how to tell the crypto story well, how to break the constraints of centralized systems, and how to establish a freer and more equal world. The Crypto Native community believes that crypto technology can solve many deeply rooted problems in the real world. They are practicing the principles of decentralization, developing trustless products, and building permissionless markets, thereby creating a society that can effectively protect individual sovereignty. This is the vision and mission seen by Crypto Native practitioners.