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
The open source implementation of Jolt, the most performant zkVM to date, is based on a new design paradigm. Here, a16z crypto Research Partner Justin Thaler, explains some of the core concepts behind the technology: including, the sumcheck protocol, instruction sets, and curve-based commitment schemes.