Thread by @Faculty__Group

Who will onboard the next 10 million Web3 users?

Here's what's preventing mass adoption. (thread) 👇 🧵

1. User experience.

How often do you double or triple check addresses when sending your coins? How many times did you have a small heart attack when you opened your wallet and it took a minute for your assets to show up?

This, and many more reasons, make for a terrible Web3 user experience.

Neither CEX nor DeFi are immune to this.

2. Security.

Anyone who's active in DeFi knows the dangers of buying new tokens that just got listed.

Sure, you could have a nicely written whitepaper, a cool website, and a mix of anon and doxxed founders who are active in the community.

But these days, scammers go to great lengths to pretend to be a legit project.

Even for legit projects, how confident are you that the smart contract is secure from hacking?

The dangers of getting rugged or the smart contract being hacked are constantly at play.

To make matters worse, there's no such thing as insurance in DeFi yet.

Or at least, it's not as accessible as it should be for mainstream adoption.

3. Barrier to entry.

Some dApps and many CEXs have fiat on-ramps.

Very useful, sure. But if you want to get into DeFi or transfer your money around to other CEXs, it gets complicated.

Surely everyone has had a similar experience to this:

You try to withdraw your coins from a CEX, but you have to pick which chain. Now you're googling which chain you have to deposit into.

Then you google which RPC you have to connect to. But you have to make sure it's the real one.

Finally, you find the newest RPC, it was pinned in the telegram chat.

Now you're confused because you can't figure out what the difference between the Cronos chain and CRO chain is.

And lastly, maybe after hours or days of googling and asking friends, you deposit your coins on the wrong chain, or you bridge your assets to a chain that doesn't support those assets.

- The wallets that will onboard the next generation of Web3 users need to fix a lot of UX problems.

- The DeFi and CEX of the future need to communicate better with each other.

- Bridges need to be safe to use.

#blockchain has a long way to go.

But rest assured, it's headed in the right direction.

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