Blockchain researcher Mario Laul pointed out that decentralized public blockchain networks have been around for about 15 years and are now experiencing their fourth major market cycle. While financial use cases have made significant progress, other types of applications still face challenges within the limits of decentralization and ecosystem fragmentation. However, recent technological advances have made wider applications more feasible. According to statistics, approximately 420 million people around the world hold crypto tokens, many of whom may have never or rarely interacted with decentralized applications. Currently, the main function of blockchain is to achieve the secure issuance and tracking of digital value without relying on centralized intermediaries such as traditional financial or government agencies. However, where does this place blockchain in terms of the more ambitious vision of blockchain as a universal application platform? The crypto industry is making significant progress when it comes to scaling blockchain and improving user experience.