Opinion articles present diverse opinions and do not represent the stance of (WEB3+).
The ultimate evolution of crypto wallets?
After Ethereum launched ERC-4337, EIP-3074, and EIP 7702, we are witnessing the user experience (UX) and account structure of EVM wallets gradually moving towards the culmination of a unified account based on smart accounts.
Crypto wallets can take the form of: third-party wallet extensions, super applications, specific applications, or embedded wallets.
Regardless of the form, they face the fragmentation experience of users switching back and forth between different wallets and chains. This kind of switching poses a significant barrier for new users and can also be a hassle for experienced users.
Therefore, looking at it from the end, a unified user experience (Uniform UX) is the ultimate goal pursued by crypto wallets.
The realization of a unified user experience means that wallets will provide a consistent foundational functionality, allowing every DApp and user to enjoy a simple and unified operational experience, addressing the pain points faced by current multi-chain wallets, and tackling these issues that have troubled us for a while:
The troubles of asset bridging: In a multi-chain world, bridging tokens is as difficult and time-consuming as exchanging currency internationally.
Each chain requires native tokens to pay Gas: Transacting on multiple blockchains is like driving many cars, but each car needs different fuel; this operational cost and level of hassle are discouraging.
Not knowing which chain you're on and having to connect manually: Every time you switch chains, it's like walking into a town without knowing which bus line to take, and you have to look up the information yourself, which is very unintuitive.
Multiple clicks in multi-chain settings: Every time you transact between multiple chains, it requires many clicks, like having to repeatedly enter your address and payment method every time you check out while shopping; this user experience is quite frustrating.
The burden on developers: Developers need to establish a separate mechanism for each chain, just like having to prepare different pots and ingredients every time you cook a dish, which cannot be reused, creating a significant burden.
The difficulty of trying new applications: Trying out new applications on different chains is like traveling to different countries, but each time you have to apply for a new visa, making it impossible to go wherever you want.
How does the unified wallet solve current pain points?
The UX of a unified wallet refers to creating a seamless Web3 experience, allowing these issues to be resolved easily. DApps can build their user experience on a unified framework and UX, eliminating the need to reinvent the wheel and effortlessly addressing various needs using the smart features within the wallet.
Sponsored transactions: Just like some applications allow you to use them for free, they can collaborate with wallets to sponsor some transactions, so users don't have to pay for Gas every time.
Pay Gas with any token: Imagine being able to pay for fuel with a credit card, cash, or even points; this flexibility would make users feel more welcomed.
Batch transactions: If you want to buy many items but can check out all at once without entering your card number one by one, wouldn’t that be much more convenient? At the wallet level, we hope to handle transactions in bulk, allowing DApps to provide users with a smoother experience.
Permissions / session keys: Through smart accounts, applications can provide advanced functionalities when additional permissions are needed, just like giving a friend a temporary key to your home, allowing them to water your plants while you’re away without worrying about security.
Transactions across multiple L2s: Users do not need to manually switch chains; they just need to set up what they want to do, and the wallet can automatically choose the best chain to handle it, just like navigation software helps you pick the fastest route, allowing users to relax completely.
The solutions to these pain points should not just be the wallet's effort; DApps should also work together to build a better user experience. For example, account recovery functionalities should be supported by the wallet rather than each DApp fighting their own battles. Such collaboration can truly achieve a unified, simple, and powerful user experience in the Web3 world.
Opinion articles present diverse opinions and do not represent the stance of (WEB3+).
More reports
[Opinion] With the U.S. presidential election approaching, Trump is shouting about Bitcoin as a strategic reserve; what political considerations are behind this?
[Opinion] Providing financial services for real payment scenarios! Understanding the narrative of 'PayFi' in one article.
