As the Web3 space continues to grow and evolve, there are now several defined aspects that users tend to affiliate it with. Whether one likes to use crypto for payments or is interested in hunting down the latest NFT collectible, the crypto space is rapidly diversifying what it can offer users. Regardless of the sub-sector, Web3 continues to onboard new users.
According to the latest DappRadar industry report, the number of unique active wallets that connected to a blockchain-based application on a daily basis rose significantly in 2022. While in 2021, the blockchain industry saw an average daily wallet count of about 1.58 million, in 2022, this number skyrocketed to 2.37 million.
Still, despite rising activity, one big challenge remains — the Web3 space is fragmented, and the various services the space has to offer require a multitude of tools and interactions to be used effectively.
While more and more users flock to the Web3 space, getting started still requires a significant level of research and preparation. For example, if a crypto enthusiast is just starting out and wants to start utilizing DeFi platforms, there are multiple steps that need to be completed before the user can actually start trading. First, they need to create a Web3 crypto wallet like MetaMask, then they need to acquire cryptocurrency, possibly from a centralized exchange, and only after these steps are completed can the user venture into DeFi.
The same process applies to virtually all sub-sectors of the Web3 space. Whether a gamer wants to start exploring blockchain gaming or an artist is looking to venture into digital collectibles and NFTs, the initial onboarding process has to be completed. This rather extensive procedure is what deters theRead more on cointelegraph.com