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
a16z crypto released the most performant zkVM to date: an open source implementation of Jolt. Jolt is up to 30% to 60% percent faster than the current state of the art, and poised to get much faster still with further optimization. But beyond just the improvement in speed, because Jolt is based on a new design paradigm, it is easier for developers to extend, and is also much easier to audit, leading to greater security. Here, a16z crypto Research Partner Justin Thaler explains what Jolt is and why it’s important.