The emergence of blockchain technology has opened up a new era of possibilities for the internet, giving rise to what is now referred to as Web3. With this new technology, comes a demand for developers skilled in building decentralized applications (dApps) that can unlock the full potential of the blockchain. However, despite the opportunities that Web3 presents, there remains a significant user-developer problem that needs to be addressed before mass adoption can be achieved.

Web3’s User-Developer Problem

One of the most significant challenges that developers face in building Web3 applications is high barriers to entry. These include incompatible coding languages, protocols, and varying security solutions that make it difficult for developers to transition from Web2 to Web3. Furthermore, there are not enough toolkits and incentives available to bring substantial developer talent on-chain in its current stage of infancy.

To address this issue, it is essential to simplify the development process for Web3 developers. This means creating an environment that is not only easy to work with but also provides them with the necessary tools and incentives to develop innovative and secure Web3 applications. For users, it is essential to ensure that the Web3 experience is intuitive and user-friendly, with an emphasis on security and ease of use.

Smart Contracts: Fortifying Accessibility and Security For The Gateway To Web3

One of the fundamental components of the Web3 experience is the digital asset wallet. Digital wallets serve as the initial gateway into Web3 for most users, making them a critical component of bridging the blockchain experience from the realm of Web2. However, the clunky user experience of self-custody has been a significant obstacle to the widespread adoption of digital wallets. To address this issue, developers can enable a mixed-modal custodial management solution that allows users to start with a custodial wallet, which enables easy navigation with little to no barriers to entry. As users gain more experience and knowledge while accumulating more digital assets, the self-custodial mode allows for added security, more control, and ownership.

What is Account Abstraction?

The latest blockchain advancement, account abstraction, is set to unlock many more magnitudes of security and user accessibility for digital wallets. Integrating a native smart contract model to self-custodial wallets fundamentally resets the self-custodial narrative away from complications of seed phrase management and multiple processes, to a more customizable yet secure asset management experience — not unlike mobile banking services commonly used today.

With social recovery, 2-factor authentication (2FA), and biometric authentication, users are protected in the event of key loss or theft. Spending limits, whitelists, and blacklists for certain recipients can all be enabled to shift access control from being static and binary to a fully customizable one.

How Do Smart Contract Wallets Solve Complicated Onboarding Processes?

Smart contracts enable sponsored gas fee payments on behalf of users, allowing wallet providers and dApp builders to subsidize transaction fees as user acquisition costs and make in-dApp payment more flexible. Multi-signature schemes ensure multiple keys are stored separately to perform transactions, reducing the risk of cyber-attacks and creating a safe trading environment.

This opens up design space for privacy-enabled social applications, with the decentralized identity (DID) in the Web3 universe. Real-world DIDs are integrated by storing encrypted, verified ID documents on-chain, undergoing verification by a trusted authority, and allowing users to decrypt and share them with other relevant parties for expedited identity verification in the future. This eliminates the hassle of repetitive Know-your-customer (KYC) processes typical of common custodies such as banks.

Adding in one’s on-chain transaction history provides a social identification of actions, purchasing preferences, risk profiles, and more, laying the groundwork for on-chain credit scores.

Frictionless Experiences for Users and Developers

For Web3 to achieve mass adoption, developers must have access to robust infrastructure and workflow tooling that enables them to build dApps quickly and efficiently. The availability of frictionless user interfaces alongside comprehensive security measures will see user migration brought en masse to Web3.

However, creating a seamless user experience that balances security with ease of use is easier said than done. Fortunately, there are efforts underway to fast-track functional and secure Web3 wallet integration.

One example is the Blocto Wallet, a cross-chain smart contract wallet interface that can support multiple blockchain networks and seamlessly integrate with dApps. This is a crucial step towards creating a more interconnected internet that is not limited to siloed blockchain networks.

Simplified Web3 Building for Mass Adoption

As the Web3 ecosystem continues to evolve, it is becoming increasingly clear that seamless user experience and reliable security will be key to driving mass adoption.

One solution to this is Blocto SDK, a powerful development tool that enables developers to seamlessly integrate their multi-chain support in just two lines of code. Spanning common user interfaces across mobile (Blocto Native App, iOS-SDK, Android-SDK), web (Javascript-SDK), and game engine (Unity-SDK), developers can retain user engagement within their dApp without the need for additional downloads, while benefiting from 20x conversions as compared to the industry standard.

Blocto also offers a free-to-use wallet solution, Blocto Wallet, that provides an intuitive user interface and a proprietary chain-agnostic gas fee solution, Blocto Points. As one of few EVM-compatible smart contract wallet providers, Blocto natively supports multiple blockchains like Ethereum, Aptos, Polygon, Solana, Flow, BNB Chain, and Tron blockchains. EVM-compatible Layer 2 blockchains such as Optimism, Arbitrum, and Polygon zkEVM will be integrated from early Q2 2023.

Trusted by notable Web2 partners like Yahoo, and IPX (formerly Line Friends) and backed by top-flight investors like Mark Cuban and 500 Global, Blocto offers developers access to a  multi-chain ecosystem with a large user base, alongside comprehensive developer support. With ISO/IEC 27001 certification and state-of-the-art security mechanisms, including a multi-signature scheme, 2FA, and biometric authentication, Blocto is a secure smart contract wallet for both developers and users.

The Future is On-Chain

By leveraging smart contract capabilities, dApps developers can also use a freemium model that streamlines blockchain utility fees and transactions for their users. This allows developers to pivot their resources towards improving compelling dApp experiences and building chain-agnostic, decentralized application logic in a safe deployment environment.

As more users and developers gravitate towards platforms like Blocto, the future of Web3 will focus more on the accessibility of interoperable developer tooling and user-friendly onboarding portals. With rich use cases in gaming, social media, and entertainment, the possibilities for Web3 are vast and exciting. By prioritizing user experience and security, platforms like Blocto are paving the way for a more inclusive and interconnected internet.

About the Author

Hsuan Lee is the Co-Founder and CEO of Blocto. Hsuan has been listed as one of the 21 most influential people in Taiwan’s blockchain field, which he has been actively developing since 2015. Previously, as VP of Engineering, he helped build DEXON into one of the top performing blockchains at the time. Traveling around the world as a crypto nomad, Hsuan continues to push for a culture of innovation and the mass adoption of blockchain with Blocto Wallet, made by portto.