đš Web3 Adoptionâs PROBLEM: Seed Phrases Won't Work for Mainstream Users
The Chain Agnostic Standards Alliance (CASA), recently shared some blunt truths at the Web3 Summit 2024 in Berlin. "Seed phrases are not going to work for the other 95% of the world," they said, underscoring the need for more user-friendly solutions. The current onboarding process, with its technical jargon and irreversible seed phrases, is just too intimidating for the average user.
For Web3 wallets to appeal to a broader audience, the industry must prioritize user-centric features. This means moving away from the complex seed phrases to something more intuitive and familiar, like recoverable passwords or account names. However, achieving this shift requires an unprecedented level of collaboration and standardization among wallet providers and developers.
Other crypto industry leaders are also championing the need to simplify the user experience. Chintan Turakhia, senior director of engineering at Coinbase, highlighted this issue at EthCC. He pointed out that to bring in the first billion users, âwe have to take all those friction points out.â
Coinbase is already leading the charge with its new smart wallet, launched in June. This wallet aims to remove the complexities of seed phrases, replacing them with user-friendly account names and passcodes, making it easier for beginners to get started.
Do you think removing seed phrases will accelerate mass adoption or will it just cause more problems due to more vulnerabilities?
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- @Professor Mende - Bonuz Ecosystem Founder out! #web3 #blockchain #tech #bitcoin #btc