The year 2023 has been a remarkable one for the crypto and
Web3 space, with many innovations, challenges, and opportunities emerging. The
adoption of decentralized technologies has grown exponentially, reaching new
heights of user engagement, value creation, and social impact.
As we enter
2024, what are some of the trends that will shape the future of crypto and
Web3? Here are some of my predictions and thoughts as we delve into the first part of our crypto and Web 3 predictions for 2024. It is based on the current state
of the industry, the latest developments, and the potential scenarios.
One of the main barriers to mass adoption of crypto and Web3
is the user experience (UX), which is often complex, confusing, and
intimidating for newcomers. Users have to deal with unfamiliar concepts such as
wallets, keys, addresses, gas fees, transactions, smart contracts, and more.
They also have to navigate through multiple platforms, protocols, and
applications, each with its own interface, functionality, and terminology.
This
creates a steep learning curve and a high cognitive load for users, who may
feel overwhelmed and frustrated by the process. However, in 2024, I predict that we will see a significant
improvement in the UX of crypto and Web3, thanks to several factors:
- Modular
technology stack: The crypto and Web3 space is evolving into a modular
technology stack, where different layers and components can be easily
integrated and interoperated. This allows for more flexibility,
scalability, and compatibility among different solutions and reduces the
friction and complexity for users. For example, users can access multiple
blockchains, protocols, and applications through a single wallet, such as MetaMask,
without having to switch between different accounts, networks, or devices. - Users can also leverage cross-chain bridges, such as Polygon, to transfer
assets and data across different blockchains, such as Ethereum or Solana,
without having to deal with multiple transactions, fees, or conversions.
Users can also use aggregators, such as Zapper, to manage their
portfolios, track their performance, and access various decentralized
finance (DeFi) opportunities, such as lending, borrowing, swapping,
staking, or farming, without having to visit multiple websites, apps, or
platforms.
Developers building with Polygon CDK will soon be able to choose from multiple EVM clients for…
