This post is a part of a series of posts documenting my experience as a fellow in the Solana India Fellowship. You can find other posts in this series here.
According to him, any developer looking to build the next big thing in web3 must have a clear answer to:
“How do I bring the next 10 million users into crypto?”
At present, every web3/defi protocol is targeted towards tech-savvy and power users. To bring the next million people onboard, we have to radically simplify the user experience and appeal to the average user who is not a crypto degen.
Some ideas discussed were:
- New wallets, built from scratch, for specific use cases. For example Sequence, where they built a wallet specifically for their game.
- A wallet is usually the point of entry for your app.
- We cannot expect an average user to manage keys, seedphrases and the like.
- Multi-chain applications and protocols.
- As blockchain tech matures, it has because clear that there will be many chains each interacting with each other.
- You then have to think carefully about how to ensure that your users have a seamless experience across any chain.
- Bringing off-chain data on chain.
- Current oracle technology is still immature and there is a lot of data which is not price data which can be useful on chain.
Since we are nearing the end of the fellowship, the exercises have basically ramped up to building complete dapps with everything we have learned so far. This included building shared wallets, staking infrastructure, a messaging app and a mail dapp. All the code is here.