This is the year the world came onchain.
When we launched our first State of Crypto report, the industry was still in its adolescence. The total crypto market was worth about half what it is today. Blockchains were much slower, more expensive, and le
Each year, the State of Crypto report from a16z crypto cuts through the noise and tracks crypto’s evolution across markets, technology, policy, and culture.
Now in its fourth edition, the 2025 State of Crypto report reveals how crypto has gone ma
A review of zero-knowledge proofs, where Sarah Meiklejohn (University College London, Google) looks at the applications that are driving their development, the different models that have emerged to capture these new interactions, the constructions that we can achieve, and the work left to do.