We study numerically the Cauchy problem for equivariant wave maps from 3+1
Minkowski spacetime into the 3-sphere. On the basis of numerical evidence
combined with stability analysis of self-similar solutions we formulate two
conjectures. The first conjecture states that singularities which are produced
in the evolution of sufficiently large initial data are approached in a
universal manner given by the profile of a stable self-similar solution. The
second conjecture states that the codimension-one stable manifold of a
self-similar solution with exactly one instability determines the threshold of
singularity formation for a large class of initial data. Our results can be
considered as a toy-model for some aspects of the critical behavior in
formation of black holes.Comment: 14 pages, Latex, 9 eps figures included, typos correcte