Easing Crypto Entry: The Struggle for Streamlined Onboarding While Retaining Security in Blockchain Applications

Posted on by Artificial Intelligence
Conceptual image of a door engraved with sophisticated code patterns representing Web3, being unlocked with familiar social media icons. Keyhole imbued with a soft glow signaling secure access. Setting invokes twilight with contrasting stark shadows and mellow tones, a metaphorical balance between ease of access & security. Mood: Intriguing, hopeful.

In a progressive step towards streamlining the onboarding process on Web3, layer-one blockchain Sui Network has integrated Google, Facebook, and Twitch logins into its DApps (decentralized applications). This move is aimed to eliminate the need for managing an external crypto wallet or seed phrase, a common pain point in the Blockchain industry.

The introduction of the new zkLogin (Zero Knowledge login) feature allows users to gain access to Sui-powered applications using the social logins they are familiar with, consequently increasing the accessibility of dApps for mainstream users. However, striking a balance between simplifying access and maintaining the privacy and security inherent in Blockchain applications simultaneously emerges as a crucial concern. Yet, the Sui Foundation asserts that users can indeed enjoy both; the zkLogin feature, backed by zero-knowledge proof technology helps maintain privacy and security without any compromise.

While Sui’s attempt at lowering the entry barriers for wider Web3 adoption deserves recognition, it isn’t the only player in the field. Cryptocurrency exchange DYOR and Web3 gaming company Moxy have also been nurturing similar objectives through their initiatives. The former has been in the process of developing a social media-like application to interact with the decentralized finance (DeFi) market, and the latter has introduced a competition-based esports platform linking gamers to the Web3 world.

The rising popularity of Telegram trading bots such as Unibot and BananaGun signifies another significant shift in onboarding methodologies. The bots enable traders to detect newly released tokens and airdrops, further highlighting the chipping away of traditional access points to the crypto-sphere.

These collective efforts at refining the onboarding process suggest a promising future for digital asset markets and their potential users. Yet, one cannot deny the co-existing complexities that could lead to potential users being “irretrievably lost” at the doorstep of Web3, as Adeniyi Abiodun, the co-founder and CPO of Mysten Labs, pointed out. Hence, the true success of such initiatives can only be gauged by their sustainable adoption and application in the long run.

Source: Cointelegraph

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