Web3 — the world of blockchain, non-fungible tokens (NFTs), and cryptocurrencies — is devilishly difficult to use for a product designed to democratize everything from investing to activism to art.
Purchasing Bitcoin or Ethereum is as simple as opening an account with one of the numerous recognized exchanges and attaching it to a credit card (or source of funds). Initially, the problem with Crypto was that it could not be used on anything except illegal purchases on websites like Silk Road. All of that changed with the rise of NFTs and decentralized autonomous organizations, which enable users to purchase digital art, invest in musicians in exchange for a portion of their royalties, or join clubs that grant access to IRL activities such as concerts or networking events. However, taking part in these initiatives — or working inside Web3 in general — necessitates the ability to comprehend and act on smart contracts written in code, frequently in seconds.
It might take days to learn how to invest early in an NFT that piques your interest or claim a reward for your contribution to someone else’s project. The difficulty is that some NFT initiatives do not have a website, so you must rely on Twitter to find out what is being given and how to acquire it. There might be several sets of instructions, made more confusing by inconsistent advice from users on Discord, the major site for Web3 discussions. Some of the advice is well-intended yet inaccurate, while others are malicious.
What solutions could lead to a safer Web3 experience?
Most cryptocurrency fans desire more precautions against scammers and other ethically questionable individuals. Here are 2 actions that might be made at the hardware, application, and community levels to make the space more welcoming.
- Create a more complete user experience. The fact that most consumers cannot understand transaction requests offers an evident barrier to adoption and a simple opportunity to be deceived. It would be quite beneficial to use simple language to demystify transactions. What monies are being transferred? Which way should I go? When signing a transaction, what rights does the user grant?
- Make instructional materials available. The NFT sector is decentralized, and self-custody is a key component of Web3. This is a significant departure from Web 2.0. Educational tools will aid in the safe integration of new people into the space.
Web3 might become the next paradigm, but only if the community tackles the usability and security issues that now plague this arena.
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