Opinion: Web3 revolutionizes user experience with a consumer-focused approach
Disclaimer: The author’s opinions expressed in this article are their own and do not reflect the views and opinions of crypto.news’ editorial team.
Blockchain technology has made significant advancements in the modern digital age, but its practical utility has yet to be fully realized. The early adopters of web3 have shown great enthusiasm, but this has also led to a neglect of usability for non-technical consumers, creating a challenge for wider adoption.
From 2016 to 2022, the number of active crypto wallets increased from 5.7 million to 80 million, a remarkable 14-fold growth. However, the daily transaction count only increased by 40% during the period of 2017-2021. Research shows that while 81% of respondents are interested in blockchain, they find the effort required to use it excessive. Another study by Pohang University of Science and Technology reveals that users are consistently less satisfied with their experience using blockchain-based applications compared to non-blockchain alternatives.
The verdict is clear: developers must prioritize consumers to achieve widespread adoption of cryptocurrencies. This means delivering better user experience (UX) and user interface (UI), providing a seamless experience comparable to web2 applications, and ensuring a smoother learning curve.
Consumer-centricity in blockchain refers to understanding and meeting the needs of users by delivering products, services, and experiences that align with those needs. Key elements of consumer-centricity include user-friendliness, intuitive design, streamlined processes, and minimal effort required for efficient outcomes.
However, many modern blockchain solutions still lack user-friendliness and come with complex interfaces, making it difficult for newcomers to understand basic concepts. This discourages users and leads to disengagement. In addition, the narrow accessibility of blockchain technology and the presence of hidden or complex costs like gas fees hinder widespread adoption. Slow transaction speeds also impact user experience. To achieve mass adoption, blockchain technology needs to be scaled without compromising user experience.
It is important to recognize that technology should serve as a means to an end, rather than an end itself. While Layer-2 solutions have reduced some of the frictions of Layer-1 blockchains, a consumer-centric approach takes blockchain to the next level. By improving user interface, user experience, and onboarding processes, developers can build trust, lower entry barriers, and enhance Layer-2 solutions.
However, consumer-centric Layer-2 solutions require robust technological support. Adapting to evolving user needs requires a shift from rigid top-down design to a modular approach, where components can be modified individually without affecting the overall system’s stability. Combining rollups and decentralized sequencers can achieve a consensus between security, fairness, and speed of execution. The fundamental step is recognizing the needs of customers and shifting the vision towards a consumer-centric chain. Blockchain has proven its concept; now it’s time to make it convenient.
Cecilia Hsueh, co-founder and CEO at Morph, a consumer-centric blockchain Layer-2 platform, emphasizes the importance of a consumer-centric approach in achieving blockchain’s full potential. With over a decade of experience as an entrepreneur and investor in the web3 space, Cecilia understands the significance of prioritizing user needs in driving blockchain adoption.
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