XION: A New Starting Point for Web3 Mass Adoption

The Web3 industry has been discussing its potential for many years, but it seems to still be in the early stages of user adoption. Currently, the mainstream world faces two major challenges in adopting Web3: functional barriers and cultural barriers. The emerging L1 public chain XION is designed to address these two issues. This article will delve into XION's vision and how it aims to facilitate the large-scale adoption of Web3.

XION: An L1 network focused on simplifying the complexities of cryptocurrency

The developer of XION, Burnt, began its journey in the Web3 space with a notable event. In March 2021, they live-streamed the burning of a famous artwork and transformed it into an NFT, with the aim of transferring the value of physical art into the digital realm while encouraging more artists to explore NFTs. Over the next year, Burnt focused on developing no-code products and early NFT standards for creators.

In this process, Burnt personally experienced the bottleneck of NFT development and realized that the Web3 industry is difficult to achieve large-scale adoption due to its complexity. "Keeping ordinary users at bay while making industry insiders feel superior" is clearly not the endpoint for Web3.

Therefore, Burnt has built XION based on the Cosmos ecosystem, which is an L1 blockchain designed to simplify the complexities of cryptocurrency. XION aims to provide a frictionless user experience while retaining the core features of Web3, such as decentralization, transparency, and verifiable ownership.

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 unleashing the full potential of blockchain technology.

In addition, the Inter-Blockchain Communication (IBC) protocol of Cosmos allows XION to quickly integrate with other application chains and related applications. For example, if private user states are needed, XION can connect to privacy networks. If DeFi functionalities are required, XION can connect to specialized financial chains. There are also other dedicated cross-chain solutions for fiat assets and non-Cosmos ecosystem assets. This "chain interconnection" architecture enables XION to provide users with more functionalities and paves the way for new use cases for developers on XION.

Main Obstacles Facing Web3 and XION's Solutions

Barrier 1: Complex and unfriendly features for beginners

For new users who are using Web3 applications for the first time, it may require executing up to 15 complex steps and spending several days to successfully complete the interactions. From selecting the right wallet to acquiring the necessary funds for transactions, this process leads to a user churn rate of up to 95%. With the continuous emergence of new L1 blockchains, the challenges faced by new users are becoming even more severe. These issues also provide opportunities for scammers, further deepening the mainstream world's negative impression of the Web3 industry.

XION's solution:

1. Simplified Entry Process: XION allows users to purchase on-chain goods directly using credit or debit cards, with an authorization rate of over 95%, covering approximately 6 billion cardholders. This not only simplifies the user operation process but also provides a purchasing experience similar to Web2 e-commerce sites.

2. Gas-free transactions: XION completely eliminates the barrier of Gas fees, allowing new users to start interacting with on-chain applications immediately without the need to hold specific tokens.

3. Simplified Wallet Usage: XION abstracts the complexity of on-chain crypto wallets, allowing new users to create an MPC wallet seamlessly using just their email to interact with the application. At the same time, crypto-native users can also interact with XION using any wallet of their choice.

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

5. Adoption of Stablecoin Pricing: 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 trade in a familiar fiat currency format.

Barrier Two: Cultural and Terminology Barriers

In addition to functional barriers, the mass adoption of Web3 also faces cultural obstacles. For new users, entering the Web3 world is like stepping into an unfamiliar universe, filled with unfamiliar terminology, complex ecosystems, and confusing applications. Moreover, the mainstream perception of cryptocurrency has also been negatively impacted due to some bad actors and high-profile scam incidents.

XION's solution:

1. Simplified Terminology: XION is dedicated to simplifying or completely abstracting complex technical terms, using more easily understandable words to enhance user experience and achieve broader adoption.

2. Increase Credibility: XION has established strategic partnerships with well-known companies in the Web2 and Web3 sectors, such as securing investments from Animoca and Circle Ventures, and collaborating with Web2 giants like Checkout.com, Stytch, and Stripe to build trust and attract a wide audience.

3. Reduce the need for user education: The infrastructure design of XION eliminates much of the complexity, such as no Gas fees and simplified wallet operations, greatly lowering the learning threshold for user interactions.

Conclusion

Creating powerful and practical infrastructure is only part of the challenges faced by Web3. To truly achieve mass adoption, we also need to build an intuitive and user-friendly interaction layer, ensuring it is as easy to use and popular as Web2 platforms.

XION is expected to be a key factor in driving the large-scale adoption of Web3. It is not only committed to technological advancement but also lays the foundation for the cultural transformation of Web3. By simplifying the user experience, enhancing accessibility, and building a trustworthy ecosystem, XION is paving the way for the future of Web3.