Streamlined User Experiences
Web3 products and services could benefit from adopting the streamlined user experiences of Web2, according to industry experts at the Next Block Expo in Berlin. The clunky login features and complex wallet management associated with Web3 services have hindered their adoption.
Improving Onboarding
Web3Auth, a platform using multi-party computation (MPC), aims to streamline Web3 onboarding by providing passwordless authentication for wallets. It offers noncustodial wallet infrastructure and has already attracted high-profile enterprises and decentralized applications, including Animoca Brands, Binance, McDonald's, and Ubisoft.
Combining Web2 and Web3
Web3Auth enables users to login with their Web2 credentials from platforms like Google, Facebook, and Twitter. The platform uses a distributed key generation protocol, ensuring that no single server holds the full private key. This approach combines the convenience of Web2 login methods with the security of Web3 wallets.
Simplifying Web3 Services
Industry leaders at the event emphasized the need to simplify Web3 services to attract more users. Fernando Martinho, CEO of Relayz, a privacy communications infrastructure firm, stressed the importance of abstracting away complicated steps and providing a seamless login experience.
Bitcoin's Price Outlook
During the event, speakers discussed the factors driving up Bitcoin's price into 2024. These include the mining reward halving, potential approval of Bitcoin spot exchange-traded funds, and recent regulatory actions against industry giants like Binance.
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