Author: CloudY, Sihan

Editor: Vincero, YL, DoctorStrange

Reviewer: Crystal

I History of Traffic Access

Web3 as a whole is still in its early stages and usually acquires traffic more wildly and primitively than traditional Web2. As the Web3 industry develops, its traffic acquisition roughly goes through three landmark stages as user needs change.

• Early Stage

Users largely trade cryptocurrencies in the early stage of the crypto industry. Most users often seek various functions on the central exchanges (CEXs) through websites or applications, such as Mt Gox and Bittrex. A raft of CEXs proliferates as the major traffic access, including Binance, Huobi, OKEX, KuCoin, MEXC, and Gate.io. Besides trading cryptocurrencies, CEXs enable deposit/withdrawal from peer-to-peer lending to further control traffic access, as users also have demands for crypto-fiat deposit/withdrawal. Because of its substantial market share, something wrong with CEXs will take a great toll on the market. A case in point is the collapse of Japan’s Mt. Gox exchange after most of the bitcoins it is holding are stolen.

• Middle Phase

Individual users pursue richer features in a more advanced crypto industry, such as storing and transferring digital currency in blockchain wallets, and on-chain interaction. Especially with the advent of Ethereum, smart contracts give birth to the on-chain ecosystem, and DAPPs spring up. As the popularized general knowledge of crypto brings in massive new users, wallets are used more often as access to on-chain DAPP. CEXs and wallets keep expanding their business offerings. CEXs begin to develop trade-centric financial derivatives by combing futures and options to compete with wallets. Because of the unitary public chains and insufficient on-chain infrastructure, there are fewer chains compatible with those wallets, and their money transferring, cross-chain interactions and other functions are inferior to the CEX. After TRON is founded, its knockdown charges during transferring of money are a huge advantage over CEXs. Furthermore, the launch of EOS and USDT significantly stimulates the demand for on-chain interaction, and wallets have a wider range of functions. That diverts user traffic from CEX to wallets when the on-chain crypto ecosystem gradually takes shape.

• Currently

User needs become more diversified today. Since the crypto industry creates many wealthy individuals, users are hungry for more direct shortcuts to make money, which requires more complex businesses. As far as traditional CEXs is concerned, CEXs introduce wealth-creating functions such as IEO and strive to integrate derivative services and DAPP into their ecosystem. Binance, for instance, rolls out the latest DeFi module and mini-program as well as Binance Pay while CEXs, such as MEXC and Gate.io, launch more shoddy projects to give users more choices. Therefore, CEXs, as the access to the Web3 ecosystem, play an increasingly critical role. Meanwhile, equipped with built-in DEXs, wallets begin to support multiple chains and audit the access security. When wallets are further used by users who demand sophisticated financial services, DeFi Summer shows up, together with a variety of DEXs, lending, oracle, and derivative markets. The wealth created by the booming currency issuance attracts a large number of new users to Web3. Some top Web3 operators develop and use their Apps or DAPPs as independent traffic access, such as Opensea and StepN. Some of them even drive user traffic to Web3 Apps by attaching themselves to traditional Web2 Apps, such as Twitter plug-ins. They also choose Telegram and Discard which enjoy the traffic spill-over to social platforms. In general, as traffic surges amid the flourishing industry, the cutthroat competition for user traffic and different demands from user traffic shape traffic access with a diverse model where exchanges and wallets play leading roles in parallel to other traffic accesses.

II Web3 Access Today

Ethereum reported $10.68 million in terms of NFT trading volume on October 28 while Reddit Collective Avatars registered $2.5 million according to NFTgo.io. In other words, Reddit NFT makes up about 25% of the trading volume on the Ethereum-based NFT market. Opensea has about 2.3 million users. Most of the 2.83 million Reddit NFT holders have signed up for the Reddit Vault account. That is to say, the number of registered Reddit wallets is almost equal to the number of NFT wallets traded on Ethereum, which stands at about 3.43 million. By issuing an NFT, the Web2 platform Reddit can secure huge user traffic comparable to Web3 NFT, and shortly attract more users than Opensea which is the largest Web3 NFT market. That indicates plenty of room for further development in Web3 although many revolutionary innovations are already there.

Looking back on how Web2 access changes, we find it evolves in this way: from the portal site to the search engine, to the social media platform on the personal computer, and to the social media platform on the mobile phone. Information display on Web2 access also changes from the collection of filtered comprehensive information to the collection of automatically filtered information, to information output by users, to fragmented information output by users, and to fragmented video-photo information output by users. Web3 shares the similarities too. In the beginning, only POW public chain investment dominated by BTC is available and then investment targets surge in the era of ICO. Currencies must be screened before getting listed on IEO and IDO. Till now, users can research, analyze and recommend high-quality projects by themselves or via DAO agencies. Whether in Web2 or Web3, information is no longer centralized, passive and complicated; they become decentralized, active, and simple.

Based on such basis, we consider where Web3 access is and will be and how it lay out. Since there’s a mixed bag of definitions, Web3 in this paper refers to the collection of decentralized applications (aka. DAPP) running on the blockchain at no sacrifice of personal data. Our discussion about Web3 access goes beyond Crypto, covering all targets that can divert user traffic to it, including traditional Web2 platforms, centralized exchanges, Web2 games, etc.

We classify Web3 accesses according to different user behaviors, sketch their features, and compare the main access falling under the same bracket. At last, we present our insights on how each Web3 access evolves tomorrow concluded from those features and comparisons.

III Compare Web3 Access

Before classifying Web3 access, we should identify what motivate users to enter Web3, or what Web3 brings to users:

• Reshape the way current applications run: copyright confirmation, ownership of privacy, asset ownership, and behavior incentives

• Invest in cryptocurrency

• Invest in NFT

We draw the flowchart of how users enter Web3 by its functions and sort Web3 access into two broader categories :

1. Account system (based on deposit/withdrawal and fund management): centralized exchange, independent deposit/withdrawal project, deposit/withdrawal aggregator, crypto ATM, crypto bank card, and OTC trade; or EOA, CA, and MPC wallets, account abstraction (AA).

2. Web3 DAPPs (based on tools, social networking, and entertainment): DEX, NFT Marketplace, copyright market, domain names, DeSoc, GameFi, X to Earn.

• Account System

1. Fund Management

Fund management includes storing, sending, and receiving crypto assets. Besides the early exchanges, wallets are the most important accesses for users to the crypto world and also the repository of their identity, assets, and reputation. Security is the first priority, and convenience is the second priority. The wallet is actually a public/private key manager. The private key generated by asymmetric crypto technologies has monopoly control over users’ wallets, public key address, and assets. Therefore, how to manage the private key is the key to different wallet products. On this basis, another battlefield is how to expand functions beyond wallets.

The wallet falls into two categories: custodial wallets and non-custodial wallets. In short, it depends on whether you control your wallets through the private key. Custodial wallets are mostly exchange accounts in which the exchange holds the assets on the wallets in trust for you. However non-custodial wallets are more diversified, including hardware wallets, externally owned address (EOA) wallets, and contract account (CA) wallets. The EOA wallet can be a plug-in or a mobile application. EOA wallet has many expansions, including the multi-party computation (MPC) wallet and the account abstraction (AA) wallet, a new wallet concept that upgrades the EOA wallet with smart contracts.

(1) Custodial Wallet

The idea that a private key means a wallet sounds secure enough, but in fact, it is because the private key or recovery phrase is too important that how to store them becomes the threshold for users to use the wallet. The user experience offered by most wallets is far from as good as Web2. This is why most users switch to CEXs as the first choice to access Web3. They just need to remember their login password on CEXs, but it has the most obvious failings — the assets squirreled away on CEXs might disappear when CEXs crash, abscond or suffer hacking. What happened to Mt. Gox is a typical example. Mt. Gox announced suspending the withdrawal in 2014 after their 850,000 Bitcoins were stolen by hackers, and then declared bankruptcy. In addition, since all funds are controlled by CEXs, the exchanges can deploy that money by modifying numbers, like infamous dump tricks with false data, or even directly misappropriate trusted funds for value added.

However, these shortcomings won’t prevent users from continuing their activities on CEXs. Exchanges are endorsed by their reputation and are easy to operate. Most users only trade in the secondary market. Thus, CEXs still gather the majority of user traffic across Web3. In December 2021, there were 295 million crypto users. Binance, the world’s largest exchange, attracted 120 million users alone, while DEX Uniswap, the largest exchange too, had only about 3.9 million users. That highlights that CEX is a much more competitive Web3 access. Simply put, most users choose to sacrifice security for convenience.

(2) Non-Custodial Wallet

In contrast to CEXs, most wallets jettison convenience for security, raising a high threshold to enter Web3. Specifically, the hardware wallet is the safest one because deploying assets it stores requires both a hardware wallet and password, but it demands onerous steps. First, it takes considerable money and must be carried around at all times when it is used. Once the hardware wallet is lost, the money in it will go astray too.

EOA wallet gives more security and convenience. EOA wallet is available on web plug-ins or mobile Apps, so users can access it more easily, but users still need to remember and keep the private key, which is actually a recovery phrase in the form of 12 English words converted from the private key. EOA wallet also has some risks. When the private key/recovery phrase is misused, the wallet will no longer be safe. The loss caused by the leakage of the private key has reached at least $274 million since 2022, and even many market makers such as Wintermute were no exception, according to CertiK.

Although MPC wallets and more scalable CA wallets emerge based on EOA wallets with new technologies to make keyless or low-threshold wallets possible, EOA wallet is still the mainstream wallet. The leader Metamask had more than 80 million users in December 2021 and acquired even more than 30 million monthly active users in March 2022. Dwarfed by Binance though, Metamask has an impregnable position among the current software wallet.

In the MPC wallet, each party has a segment of the private key. Similar to the multisig wallet, all parties sign to start a transaction. The MPC wallet decentralizes the private keys off the chain, increasing the security of the wallet account. Besides, the MPC wallet can refresh the key fragments by replacing the original key fragments held by each party with new ones in case the key is lost. Users only need to match the verification information such as mailbox or biosignature to retrieve their assets in wallets. Compared with the traditional wallet with difficult security measures, this newest solution undoubtedly increases the convenience and lowers the threshold to Web3 access.

Account abstraction (AA) might be the game changer. Account abstraction combines EOA with smart contracts to upgrade the EOA wallet to a contract account(CA) without changing the ETH infrastructure. That combination greatly reduces the threshold to EOA, and enables unlimited scalability. EOA can thus deliver most functions as a Web2 account does, like paying the gas fee, requiring no private key, social recovery, etc. Specifically, the contract account implies that the wallet can be programmed, customized, and even modularized, promising huge prospects. The contracted wallet can customize a series of scenarios closer to users as a smart contract does by setting different security thresholds for transfers of different amounts and adjusting different levels of authority for different DAPPs. There are representative cases of contract accounts: Argent is known for social recovery, Gnosis Safe for multisig, and A3S for transferability.

2. Deposit/Withdrawal

The key factors of the deposit/withdrawal project include identity verification, fiat-to-crypto deposit, and crypto-to-fiat withdrawal.

Generally, users who trade more than several hundred dollars per month have to go through KYC in the form of identity certificates (ID cards, passports, or driver’s licenses), proof of residence, and facial recognition. Most compliant exchanges require KYC when users deposit and withdraw money, but it is not always the case. The independent deposit/withdrawal projects, deposit/withdrawal aggregators, and crypto ATMs are more decentralized with fewer limits. Having said that, centralized exchanges and large OTC platforms support more types of fiat currencies thanks to more legal and technical resources.

Payment and collection of deposits/withdrawals are limited to telegraphic transfer, ACH transfer, debit card/credit card, and third-party payment (such as Google or Apple). Still, some exchanges, such as FTX, can convert cryptocurrencies into fiat currency on the platform and transfer them to the collection account via telegraphic transfer. This brings great convenience to users and avoids the risks of receiving black money on OTC or decentralized platforms.

But there are frictions in the fiat-crypto conversion, including exchange rate fees, distributors’ markup, and blockchain network fees. Generally speaking, the less the distributor grade is, the smaller the friction is. Therefore, if listed by the order of friction loss, CEX has the same friction loss as OTC, which is less than the independent project. The aggregator has the largest friction loss.

The centralized exchange is most commonly used to deposit and withdraw fiat currency. It commonly has remittance licenses in most countries, supports most types of legal currency and cryptocurrency, and charges the lowest rate. CEXs can provide cryptocurrency payment, which is another form of withdrawal. Binance Pay on Binance can be applied to book hotels and purchase gift cards. CEX boasts a large number of secondary traders who are more likely to be converted into deposit/withdrawal users.

Independent deposit/withdrawal projects, such as Moonpay, Transak, Wyre, operate as small exchanges, but most of them only provide fiat deposit/withdrawal services. Their simple and easy-to-use interfaces cost less for users to learn. However, these projects charge distributor make-ups.

As the name implies, the deposit/withdrawal aggregator — like the fiat deposit/withdrawal service on TransitSwap, KyberSwap, and MetaMask — aggregates individual deposit/withdrawal projects and CEX to achieve the optimal exchange rate and earn commissions from it. Most importantly, they can import functions such as DEX, liquidity pledge, and NFT market to enable one-stop deposit/withdrawal and swap/taking services.

The most common OTC is the peer-to-peer model where the buyer and seller directly trade fiat deposits/withdrawals. Some platforms, such as Binance P2P, must turn to a third party to eliminate the costs of trusts when matchmaking buyers and sellers at a very low rate. However, peer-to-peer means diversified payments. In theory, the buyer and the seller can agree to trade by any means, but there are obvious risks that users might be involuntarily involved in money laundering so that their cards are frozen, or they are forced to return the funds earned from the withdrawal.

• Web3 DAPP：

1. Tools

Tool-like applications will have the largest potential among the three modular to function as Web 3 traffic access. More than improvements from Web2, they make epoch-making innovations. The social platform DeBox, instant social media Monaco, and collaboration platform Skiff, essentially integrate the Token economy into Web2 applications for privacy, transparency, and detrust on the blockchain, often known as Web3 xx — such as Web3 WeChat, Web3 Weibo, and Web3 Google Docs. Namely, They are not intended to motivate users to abandon Web2 and completely pick Web3; instead, they encourage users to use Web3 temporarily with Token. Therefore, we will focus on the role of DEX, NFT, and copyright trading platforms as Web3 access.

（1）DEX

DEX DAPP assumes enormous importance when users enter Web3. Users used to swap assets on CEXs, because the on-chain order exchange is far from deeper than CEX. AMM DEX removes the role of market maker, and thus its on-chain trading becomes deeper. The yield farming further optimizes the trading experience on AMM DEX. DEX allows users imported by other DAPPs to directly convert the tokens they earn into stable currencies such as USDT and USDC on the chain to lock yields.

The absence of market makers makes AMM DEX and it breaks AMM DEX too. Lack of depth in the LP pool or any big deal concluded by users will cause it to slip. On September 28, a user sold a cUSDC worth 1.5 million USDT on UniswapV2 at a price of about 520 USDT since cUSDC barely has liquidity.

（2）NFT Marketplace

Non-fungible Token (NFT), a new form of blockchain-based assets, is ideal for traffic access in Web3. When Everydays: The First 5000 Days created by Beeple is sold at a sticker-shock price of $69 million, the public begins to be aware of the value of digital assets. A large number of NFT projects emerge, including the metaverse projects (Sandbox and Decentraland), the PFP projects (BAYC and CryptoPunks) and the NBA Top Shop. Some copyright NFTs are launched such as IP NFTs, patent NFTs and music copyright NFTs to help creators identify their ownership.

NFT is the best-understood crypto asset. The value of the painting is not limited to canvas. The art itself is valuable. The digital painting also has its value. NFT is more shareable than traditional paintings, which can facilitate users to show off. Hence, PFP NFT is launched. CryptoPunks, the icon of Crypto OG, automatically award the title of Crypto Native to those who hold it. BAYC aims to build a club that breaks the gap between mainstream culture and Web3 and has also become a fame and status symbol after the arrival of stars or celebrity agencies such as Warriors star Stephen Curry, singer Jay Chou and JJ Lin, and even Chinese brand Li Ning. Different from PFP, Sandbox and Decentraland are recognized by major international companies who buy land at a high price to jump into the metaverse. Their land is a brand display platform to attract customers who will learn more about Web3 and the metaverse in return. Similarly, NBA Top Shot also draws the NBA audience to Web3 through NFT, and allures more people by virtue of the wealth creation, which further boosts the price and popularity. By the same token, copyright NFT invites creators to join in to gather the followers of creators on Web3. While diversifying creators’ sources of income, copyright NFT facilitates investors or followers to invest in or collect the copyright of works.

As the core venue to add value, NFT Marketplace is to Opensea, Rabble, and SuperRare what DEX is to most DAPPs. NFT Marketplace enables users to make profits on NFT and guides users to interact more on Web3. Derivatives from NFT Marketplace, such as the NFT lending platform, NFT fragmentation platform, and NFT trade aggregator, are the tools to assist users to access Web3.

2. Social Networking

The domain name and DeSoc for DID are typical access in Web3 applications. Similar to conventional DNS domain names and social media, they can directly carry user traffic and turn it into useful resources with fancy serial numbers and information as tools to acquire users. In 2020, there were 374 million global domain names registered, while according to Messari’s research report, 1.12 million ENS (Ethereum domain name service) were registered in the third quarter, hitting hit an all-time high. Medium had 25 million monthly visitors while Mirror only retained 2.1 million visitors. It is obvious that Web3 accesses, domain names, and DeSoc have as much as 10 times high potential.

(1) Domain Name

Web3 domain names convert complicated addresses into readable characters. For instance, Vitalik Buterin’s address — 0xAb5801a7D398351b8bE11C439e05C5B3259aeC9B — can be converted into Vitalik. Eth. That greatly lowers the bar to identify and input addresses during interactions and also what readable characters mean to users can add additional value, which might symbolize birth year, name, and brand name. The domain name is still in its infant ecosystem where the address can only be replaced with short characters. We can still see that the separate sense of identity between Web2 and Web3 is broken when users’ Twitter name is annexed with xx.eth, which means all on-chain data related to that address in the ETH ecosystem, that is to say, it records the cradle-to-grave life of the address. Its application in Web2 also indicates that all its interactions happening in Web3 are also extended out, so Web2 users can locate the exact people according to this name.

Apart from .eth and .ether, there are also domain names based on public chains, such as .bnb from BSC, .apt from Aptos, .evmos from Evmos. Companies dedicated to multi-chain domain names issue some domain names too. DAS releases .bit when Unstoppable Domains launches .nft, .crypto and .dao. Twitterscan expands the relevance of its domain names to Twitter. Currently, no other domain names are more useful and well-accepted than ETH which has the leading number of users and capital. In contrast, other domain names attract users temporarily through airdrops but fail to retain users for a long time.

（2）DeSoc

DeSoc becomes a smash hit after Vitalik Buterin, founder of Ethereum, economist Glen Weyl, and Puja Ohlhover, Flashbots’s researcher, coauthored the paper titled Decentralized Society: Finding the Soul of Web3 in May 2022. DeSoc in the paper is based on the Soulbound Token (SBT) and essentially aims to build a decentralized trustworthy society through non-tradable SBT and DID. Currently, Web3 is largely used in the financial field to increase capital utilization, enable faster and safer trading, and develop more advanced derivatives. DeSoc ditches today’s hyper-financialization in Web3 in favor of “a more transformative, diverse future, one that is constantly evolving”.

Take the sought-after DAPP as an example, the task-based platform Galxe and Quest3 convert the needs of the project providers into a series of tasks with SBTs issued as proof, while users complete tasks to obtain SBTs and wait for the airdrop by the project. Some of these tasks simply ask users to interact on Web2, like Twitter, Discard, and Telegram, which can attract a flood of Web2 users to Web3 through huge profits.

Another typical case is BAB, the SBT of Binance. Binance imports KYC-passed user traffic into BSC with the incentives of BAB, and retain users via BAB airdrop. Meanwhile, BAB-based projects, such as Lifeform cc, are developed in which users who have BAB are allowed to claim the LBT of their game characters.

3. Entertainment

Web3 applications for entertainment are an essential part of the industry. GameFi is the centerpiece of APPs or DAPPs. Compared with other Web3 access, GameFi naturally boasts huge appeal to a tremendous number of users in a certain period in which traditional Web2 users are no exception. Among mainstream GameFi games, many mature classic games which belong to the era of Web2 are transformed into Web3 chainplus, signalizing that GameFi can extraordinarily break the boundaries.

GameFi emerges as one of the most important segments in the Web3 field when it became popular last year as the public focused their attention on Axie Infinity. About one million active players keep playing games on the chain. GameFi is concentrated in three public chains: BSC ETH and POLYGON. The derived concept of X to earn is represented by StepN, the hottest creative outdoor Web3 game this year invested by Binance, which exemplifies the latest Web3 trends of entertainment. Other types of entertainment applications or DAPPs include video-like applications and the dating software. All new-generation Web3 applications are mainly designed for profitability and based on games, producing powerful cross-boundary impacts. This means that GameFi in Web3 has more mature games and attractions than other accesses.

Phenomenal entertainment applications emerge in an endless stream, such as Axie Infinity, RACA, and StepN, despite their redundant on-chain interactions and high-performance requirement for public chains. Some of them adopt traditional EOA wallets to attract external traffic, and others, such as StepN, guide users who are diverted by centralized applications to sign up for built-in wallets. These moves greatly facilitate GameFi to import traffic and convert them into new all-around Web3 users.

• Insight on Web3 Application:

As above-mentioned, Web3 application access includes the account system and DAPP. Both have their cons and pros. The former is more like a top-down process. Users first deposit money on the centralized account system path to create their personal account systems like exchanges and wallets and then reach the individual point such as DAPP. This mature traditional traffic access has a sound and convenient deposit system, so users have full choice and freedom. Its user groups are less diverse and comprehensive, and it fails to customize strategies for different groups. However, the latter is more like a bottom-up process. Users are first attracted to individual applications like Web3 DAPP, and then to a broader Web3 ecosystem. This type of access allows different DAPPs to fully shine and attract their target traffic. For example, some NFT Marketplaces and the widespread Axie Infinity draw abundant traffic outside the industry thanks to DAPP’s huge influence.

For now, access in the form of an account system is more mature with a long history. The majority of Web3 users are from exchanges, and a wallet is needed to access Web3. More evidence proves that leading DAPP or Web3 Apps start to set up independent Apps or applications as accesses since their huge independent traffic and strong infrastructure and capability free them from the limits of exchanges and wallets. The emerging trend in Web3 DAPP deserves attention. However, both of them still face similar problems. For example, Web3 has higher entry barriers than Web2. Therefore, Web3 and DAPP are committed to eliminating such obstacles while playing to their strengths.

Ⅳ Outlook on Web3 Access

As the vintage project of wildly popular traffic acquisition this year, StepN temporarily put a series of plans on the back burner due to weak operations and the external environment. Based on where Web3 is, StepN has created conditions to shortly build independent access with massive traffic, which is judged by how much attention it has drawn and how much traffic it has amassed. StepN doesn’t rest on the past achievement; instead, it takes a big break to develop metaverse scenarios around the Stepn ecosystem, such as Launchpad, DEX and more DAPPs. We have to admit that it is a very visionary move. We also believe that direction is how entrepreneurs rise beyond Web3 APP or DAPP. Since how StepN imitates the path of wallets opens up perspectives — develop an ecosystem on the largest traffic and retain those traffic, this move reminds Web3 entrepreneurs that this path is not only applied to wallets, but also APP DAPP, and even future developers can try to increase traffic in such way. Recently, MOOAR, a new NFT trading platform owned by Find Satoshi Lab which is the parent company of StepN, is also about to launch. Although the project fails to have it all its way, StepN has at least set a good example.

We figure that the success made by such hottest applications, which escape the siphoning effect from exchanges and wallets by independently attracting traffic, won’t last long, that is, the window is limited both for users and entrepreneurs. It works only when the Web3 ecosystem is neither mature nor balanced. As the industry matures, the independent traffic will die away, and valuable traffic resources will be concentrated in a few leading applications. The situation will be like how the Internet has evolved. Both applications and traffic access thrive during the Internet boom. Amid maturity, most services and functions converge on several leading applications, and small and medium-sized applications are either dead or acquired. Besides capital work, human nature is the ultimate cause root, It is not the habit of users to keep visiting Web3 via complicated access. Users always prefer easy, one-stop, and integrated access, which may be the inevitable result of product needs. The decentralized Web3 applications might be able to decentralize the back end, but the front end still cannot tame user habits that are hardly decentralized.

Therefore, we are convinced that in this situation, the Web3 traffic access in the future will remain concentrated in the few in a bottom-up manner, whether the account system type or the DAPP type in Web3. Specifically, judging from the current situation, exchanges, and wallets who laugh best possibly laugh last to make it happen. If CEXs and wallets can develop accesses that fit user habits and use cases at their prime of traffic, they might be able to enhance their dominance in traffic greatly. For example, the pull-down mini-program interface attached to Binance’s launch screen integrates APP and DAPP access, which is regarded as a good try for others to learn.

We think the potential model will be the traffic access concentration in a few leaders — if chosen from the current ones, the exchange and wallet access are the closest candidates. Moreover, the way to acquire traffic does not go against the decentralization and respect for the individual user as advocated by Web3 because their back-ends are still built on overall decentralization. We should consider whether there will be better solutions that optimize this centralized traffic access without betraying decentralization.

When Musk acquired Twitter recently, what we’re expecting is the Web3 transformation on Twitter — the largest Web2 social network and huge access carrying all Internet traffic. Musk may bring big changes to Twitter, so it is thought-provoking to figure out whether there will be changes towards Web3 in such a huge Web2 Internet giant, how and to what extent they will be, and what far-reaching impact they will have on traffic access. If Twitter carries out the reform of decentralization or includes a large number of Web3 applications, the epoch-making move may disrupt the current Web3 traffic landscape. Let’s wait and see.

Reference：

Reddit NFT: Analyzing the Mass Adoption Curve from Web2 to Web3

Total OpenSea traders over time (Ethereum)

The First Web3 Class — Business Model Of Crypto-Fiat Swap

MPC-Based Keyless Wallet -The Breakthrough in Web3 Access

Low Threshold Wallet — A Must-Have Tool for Mass Adoption of Web3 Applications

Overview of Ethereum Blockchain Account Abstraction and its Potential Use Cases

From DNS to ENS: Domain Names in the Era of Web3

Learn About Decentralized Society (DeSoc)

A&T View: Gamefi Upstream and Downstream Development Status and Prospects (I)

Brief History of NFT: the Shining Moment of NFT Stars Over Past 60 years