Exploring the XION Public Chain: A New Opportunity for Web3 Mass Adoption?

The potential of Web3 has long been a focus of attention, but progress in user adoption has been slow. Currently, the popularization of Web3 in the mainstream world faces two major challenges: functional barriers and cultural barriers. The emerging L1 public chain XION was born to address these two issues. This article will delve into XION's vision and how it helps Web3 achieve widespread adoption.

XION: An L1 network focused on simplifying the complexity of cryptocurrency.

The developer of XION, Burnt, began their journey in the Web3 space with a unique art experiment. In March 2021, they publicly live-streamed the destruction of a Banksy artwork and created an NFT from it, aiming to transfer the value of physical artworks into the digital realm. This act was intended to inspire more artists to explore the possibilities of NFTs. In the following year, Burnt focused on developing no-code products for creators, such as Burnt Finance and early NFT standards.

During this process, Burnt personally experienced the bottlenecks in NFT development and realized that the Web3 industry is difficult to popularize on a large scale due to its complexity. "Keeping ordinary users at bay while making industry insiders feel superior" is clearly not the ultimate goal of Web3.

Based on this understanding, Burnt has built XION on the Cosmos ecosystem, which is an L1 blockchain aimed at simplifying the complexities of cryptocurrency. XION is dedicated to providing a frictionless user experience while retaining the core features of Web3 - decentralization, transparency, and verifiable ownership, among others.

XION's goal is to promote the widespread adoption of Web3 by optimizing the functional and cultural barriers. By focusing on user experience, accessibility, and scalability, XION aims to create an ecosystem that supports developers and users, thereby fully unlocking the potential of blockchain technology.

In addition, the Inter-Blockchain Communication (IBC) protocol of Cosmos allows XION to quickly integrate other application chains and their related applications. For example, if a product requires private user states, XION can connect to the Secret network; if DeFi functionality is needed, it can connect to the Injective chain and Osmosis chain. For fiat assets and non-Cosmos ecosystem assets, Cosmos also has solutions like the Axelar chain and Noble chain. Cosmos's "chain interoperability" enables XION to immediately provide users with more features and opens up new application scenarios for developers on XION.

Major Barriers to Web3 Adoption and XION's Solutions

Barrier 1: Complex and unfriendly functionality

For new Web3 users, using an application for the first time may require executing up to 15 complex steps, taking several days. From choosing the right wallet to acquiring the necessary funds for transactions, a user dropout rate of up to 95% is not surprising. With the surge of new L1 blockchains, the barriers for new users are even higher. These issues also provide opportunities for scammers, further deepening the mainstream world's negative perception of Web3.

While user education can alleviate these issues to some extent, it is clearly not a fundamental solution. Web3 should be like Web2, not requiring new users to have in-depth knowledge of crypto to benefit.

XION's solution

XION has focused on optimizing user experience from the ground up in its design.

1. Simplified entry process: Users can directly purchase on-chain products using credit/debit cards, with an authorization rate of over 95%, covering approximately 6 billion cardholders. This not only simplifies the complex process but also provides a purchasing experience similar to Web2 e-commerce.

2. No Gas Fees: XION completely eliminates this barrier through gasless transactions, allowing new users to start interacting with on-chain applications immediately.

3. Abstract Wallet Complexity: XION simplifies the use of on-chain crypto wallets, allowing new users to create an MPC wallet using just their email to interact with the application. At the same time, crypto-native users can also interact with XION using any wallet.

4. Mobile Support: XION ensures good mobile support and allows for the separation of login and assets, providing users with a secure and convenient way to use the service.

5. Pricing with USDC: Supported by Circle, XION will be the first blockchain to use USDC as its primary trading currency. All products built on XION will be priced in USDC, allowing new users to utilize a familiar fiat currency pricing format.

Barrier 2: Cultural and Cognitive Barriers

In addition to functional barriers, the widespread adoption of Web3 also faces cultural obstacles. For new users, entering the crypto world is like stepping into an entirely new universe, filled with unfamiliar terminology, complex ecosystems, and confusing user experiences. Furthermore, the mainstream perception of cryptocurrency has been affected by some bad actors and high-profile scams.

XION's solution

1. Simplifying Terminology: XION is committed to simplifying or eliminating technical jargon and industry-specific terms to enhance user experience and achieve broader adoption.

2. Increase Credibility: XION collaborates strategically with well-known companies in the Web2 and Web3 sectors, such as Animoca, Circle Ventures, Checkout.com, Stytch, and Stripe, to build trust and attract a wider audience.

3. Reduce the need for educating new users: The infrastructure design of XION eliminates many complexities, such as no Gas fees, simplified wallet usage, and direct purchase of on-chain goods, significantly lowering the complexity of user interactions and reducing the learning costs traditionally required for users to interact with applications.

Conclusion

Creating powerful, practical infrastructure and attracting innovative users is just a small part of the challenges currently faced by Web3. To truly achieve mass adoption, we also need to build an intuitive, user-friendly interaction experience layer that is as easy to use and popular as Web2 platforms.

XION has the potential to be a catalyst for the large-scale adoption of Web3. Its mission is not only technological advancement but also laying the groundwork for a "Web3 cultural revolution," which is expected to bring new opportunities for the popularization of blockchain technology.