IFTNews, June 14th: Depending on who you ask, you'll get a different definition of Web3. Regardless of this ambiguity in definition, Web3 is the future of the Internet. Every day, more and more DAOs, NFTs, and metaverse-focused companies are popping up. Even incumbents like Nike and Adidas are trying to secure a first-mover advantage.
Web3’s decentralized nature and focus on community creates untapped opportunities for everyone From creators to consumers to brands, everyone benefits from embracing Web3, and its emergence is bound to take the internet to new heights .
Web3 needs to go mainstream and must address the challenges that are currently awash in the next iteration of the Internet. The three biggest challenges it faces are accessibility, usability and interoperability.
Existing Web3 projects do not allow Web2 users to easily transition to their platform. Depending on location, bank or device, many people may not be able to interact with certain Web3 projects, tokens or Dapps. Therefore, the barriers to entry are high.
Likewise, it is very difficult by requiring crypto wallets from people who are only familiar with custodial services, and tokens from those who trust fiat.
Solution: Lowering accessibility standards will encourage more people to embrace Web3 solutions. Web3 projects can provide temporary hosting services. You can also make the wallet optional and allow direct purchase of your products with fiat currency.
When it comes to ease of use, many Web3 projects fall apart on their own. Think about how most people use Weibo, Douyin, WeChat for the first time without much help. Now, compare how many people need a tutorial to use a crypto wallet for the first time. It is clear that one design factor affects user experience and interaction, while another does not.
Also, for some reason, Web3 designers seem to have agreed with some outdated design styles. For example, many PC games have better graphics than many new Web3 projects.
Solution: A good user experience may increase Web3 adoption. So, while focusing on developing decentralized products is good, user interaction is also worth paying attention to.
Interoperability describes how blockchains interact with each other. As it stands, different Web3 projects are designed on multiple blockchains. As long as the transfer of assets across blockchains remains impossible or largely insecure, users who own assets on one blockchain are unlikely to consider owning assets on other blockchains.
The bridges built to facilitate chain interoperability are also insufficient. In addition to being unsafe, many are slow and unreliable, making them unusable for the general population.
Solution: Projects need to start thinking about operability on multiple blockchains. Likewise, more projects like Injective and Cosmos may need to emerge to build blockchain ecosystems that allow for interoperability.
Web2 also presents challenges. The more challenges it addresses, the more mainstream adoption will be. Web3 usage will also grow as developers and the community begin to address the challenges associated with its use.