A New Starting Point for the Large-Scale Adoption of Web3: Analyzing the XION Public Chain

"Why is the Web3 industry still struggling to find a path to mass adoption, despite the many benefits of decentralized ownership?" This question has long troubled industry insiders. While there has been much discussion about the potential of Web3, progress in user adoption has been slow. Currently, the mainstream world faces two major obstacles to the adoption of Web3: functionality and culture. The emerging L1 public chain XION was born to address these two issues. Let's dive into XION's vision and how it can help Web3 achieve mass adoption.

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

The developer of XION, Burnt, has a unique Web3 development history. In March 2021, they live-streamed the burning of Banksy's artwork "Morons (White)" and released it as an NFT, which attracted widespread attention. This act aimed to explore the possibility of transferring the value of physical artworks to the digital realm, while also encouraging more artists to engage in NFT creation. In the following year, Burnt focused on developing no-code products for creators, including Burnt Finance and early NFT standards.

In this process, Burnt has deeply realized the bottlenecks faced by the NFT sector, namely that the complexity of technology makes it difficult for the Web3 industry to be promoted on a large scale. "Keeping ordinary users out while making industry insiders feel superior" is obviously not the ideal endpoint for Web3.

Based on this understanding, Burnt has chosen to build XION based on the Cosmos ecosystem, which is an L1 blockchain focused on simplifying the complexities of cryptocurrency. XION is committed to providing a seamless user experience while maintaining the core features of Web3—decentralization, transparency, and verifiable ownership.

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

Additionally, Cosmos' Inter-Blockchain Communication (IBC) protocol enables XION to quickly integrate with other application chains and their related applications. For example, if private user states are needed, XION can connect to the Secret network; if DeFi functionalities are required, it can connect to the Injective chain and Osmosis chain. For fiat assets and non-Cosmos ecosystem assets, it can also utilize chains like Axelar and Noble. The "interconnectivity" feature of Cosmos allows XION to provide more functionalities for users while creating new application scenarios for developers on XION.

Major Barriers Facing Web3 and XION's Solutions

Barrier 1: Complex functionality, not beginner-friendly

For users who are new to Web3 applications, it may take up to 15 complex steps and several days to successfully complete an interaction. From choosing the right wallet to obtaining the necessary funds for transactions, this process results in a user drop-off rate of up to 95%. With the continuous emergence of new L1 blockchains, the entry barrier for new users is even higher. These issues also provide opportunities for scammers, further deepening the mainstream society's negative impression of the Web3 industry.

While user education can alleviate these issues to some extent, it is not a fundamental solution in itself. Like Web2, Web3 should not require new users to have specialized knowledge in order to benefit.

XION's solution

XION fundamentally redesigned the L1 architecture, comprehensively optimizing the user experience:

1. Simplified entry process: Users can directly purchase on-chain products using credit/debit cards, covering approximately 6 billion cardholders and providing a purchase experience similar to Web2 e-commerce.

2. No Gas Fees: Completely eliminates the barrier of requiring new users to hold specific native tokens of the chain, allowing users to interact with on-chain applications immediately.

3. Simplified wallet usage: By abstracting on-chain crypto wallets, new users can create an MPC wallet using just an email to interact with the application. Meanwhile, crypto-native users can still use other wallets to interact with XION.

4. Support for mobile devices: Ensure that users can safely and conveniently access the XION ecosystem from any device.

5. Pricing in USDC: All products built on XION will be priced in USDC, allowing new users to understand prices in a familiar fiat currency.

Barrier 2: Difficulty in Understanding Culture and Terminology

In addition to functionality issues, Web3 also faces cultural challenges. For new users, the Web3 world is filled with unfamiliar terminology, complex ecosystems and applications, as well as a confusing token system. Moreover, due to some misconduct and high-profile scam incidents, mainstream society often has a negative view of cryptocurrencies.

XION's solution

XION has been committed to simplifying the complexity of cryptocurrency technology since its inception:

1. Simplify terminology: Replace complex technical terms with more understandable words, or completely abstract these concepts.

2. Improve credibility: Build trust by collaborating with well-known companies in the Web2 and Web3 fields, such as Animoca, Circle Ventures, Checkout.com, etc.

3. Reduce the need for user education: By designing unique infrastructure, such as no Gas fees and simplified wallet usage, the complexity of user interaction is significantly reduced, decreasing the traditional need for user education.

Conclusion

Building robust, practical infrastructure and innovative user experiences is just part of the challenges facing Web3. To truly achieve mass adoption, we also need to create a user interaction layer that is as intuitive and popular as Web2 platforms.

XION is expected to be a key force in driving the mass adoption of Web3. It is not only committed to technological advancement but also lays the groundwork for the "cultural revolution" of Web3. By simplifying the user experience and lowering the entry barriers, XION is working to make Web3 technology more accessible, bringing the advantages of blockchain technology to a broader user base.