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Author: RJ Fulton, Messari intelligence expert; compiled: 0xjs@Bitchain Vision
Every cryptocurrency bull market brings new use cases that drive adoption and innovation.
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In 2017, DeFi led the trend, and the last bull market witnessed the rise of NFT.
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This time, the forecast market, DePIN and RWA (real world assets) seem to be the most prominent catalysts.
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But a quieter but potentially more impactful revolution is underway: simplifying the on-chain login process.
The initial Web3 experience can be daunting—it is difficult to learn when dealing with mnemonics, private keys, browsing dApps, and managing multiple wallets compared to Web2.However, recent innovations are making on-chain journeys more user-friendly.Notable examples include:
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In June, Coinbase launched a smart wallet that can set up your wallet instantly without extensions or apps.To further enhance the user experience, the company has also launched the Coinbase wallet web application, integrating multiple wallets into one interface.
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In July, Circle launched social login and one-time password email verification for its programmable wallet.
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Recently, MetaMask launched the Delegation Toolkit, which eliminates the need for troublesome browser extensions or mnemonics.
Source: House of Chimera
Despite its similarities to the early days of the Internet, cryptocurrencies have not yet experienced the transformative mainstream breakthroughs experienced by broadband, user-friendly browsers and smartphones.
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While cryptocurrency adoption is currently ahead of the early stages of the Internet, initial complexity has been a barrier to its widespread acceptance.However, recent progress shows that a major shift is coming.
As technology matures, on-chain interactions become more user-friendly, potentially laying the foundation for blockchain to participate in a new era as seamless as today’s network navigation.
Only time can tell, but the true legacy of this cycle may be remembered as a quiet revolution in user experience that ultimately brings the vision of a decentralized future to the mainstream.
