A New Opportunity for Mass Adoption of Web3: Analyzing the XION Public Chain

In the continuously evolving field of Web3, we have been exploring its immense potential, but progress in user adoption has been slow. Currently, the mainstream world faces two major challenges in adopting Web3: functional barriers and cultural barriers. The emerging L1 public chain XION has come into being, aiming to address these two key issues. Let’s delve into XION's vision and how it can empower Web3 to achieve large-scale applications.

XION: An L1 Network Focused on Simplifying the Complexity of Cryptocurrencies

The developer of XION, Burnt, began their journey in the Web3 space with a striking artistic act. In March 2021, they live-streamed the destruction of a famous artwork and issued it as an NFT, aiming to transfer the value of physical artworks to the digital realm while encouraging more artists to explore the NFT space. 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 bottleneck period of NFT development and realized that the Web3 industry is difficult to achieve large-scale adoption due to its complexity. "Shutting out real users while allowing us to indulge in our little circle" is clearly not where Web3 should end.

Therefore, Burnt has built the XION L1 blockchain based on Cosmos technology, aiming to simplify the complexity of cryptographic technology and overcome adoption barriers caused by technological barriers. XION is committed to achieving a seamless user experience while retaining the core features of Web3—decentralization, transparency, and verifiable ownership.

XION's goal is to drive the mass 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 realizing the potential of blockchain technology.

In addition, the Inter-Blockchain Communication (IBC) protocol of Cosmos enables XION to quickly integrate with other application chains and related applications. For example, when private user states are needed, XION can connect to the relevant network; when DeFi functionalities are required, it can connect to the appropriate chain; there are also corresponding solutions within the Cosmos ecosystem for fiat assets and non-Cosmos ecosystem assets. This "chain interconnectivity" feature allows XION to provide users with more functionalities and create new application scenarios for developers on XION.

Barriers to Mass Adoption of Web3 and XION's Solutions

Barrier 1: Complex and not user-friendly features

For new users using Web3 applications for the first time, it may take up to 15 complex steps and several days to successfully complete an interaction. From choosing the right wallet application to obtaining the necessary funds for transactions, it is not surprising that the user attrition rate can be as high as 95%. With the emergence of new L1 blockchains, the challenges faced by new users are only increasing. These issues provide a breeding ground for scammers who steal the assets of new users, further deepening the mainstream world's negative impression of the Web3 industry.

XION's solution

XION fundamentally redesigned L1, comprehensively optimizing the user experience:

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.

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

3. Abstracting wallet complexity: Users only need to create an MPC wallet using their email, and can interact with the application without downloading a plugin. Meanwhile, 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, creating a secure interactive environment for users.

5. Pricing in USDC: With the support of Circle, XION will become the first blockchain to use USDC as its primary trading currency, allowing new users to price in a familiar fiat currency form.

Barrier Two: Cultural and Terminology Barriers

In addition to functional barriers, the widespread adoption of Web3 also faces cultural barriers. For new users, first encountering crypto is like entering a strange universe filled with unfamiliar terminology, complex ecosystems, and applications. Furthermore, the mainstream perception of cryptocurrency has been troubled by some bad behavior and high-profile scam incidents.

XION's solution

1. Abstraction of terminology: XION is committed to simplifying or completely abstracting complex technical terms, using more easily understandable words.

2. Increase Credibility: XION establishes strategic partnerships with well-known companies in the Web2 and Web3 fields, such as investments from Animoca and Circle Ventures, as well as collaborations with Web2 giants like Checkout.com, Stytch, and Stripe.

3. Reduce the need for user education: The infrastructure design of XION eliminates much of the complexity, significantly lowering the learning cost required for users to interact with the application.

Conclusion

Creating powerful and practical infrastructure is just a small part of addressing the challenges currently faced by Web3. To truly achieve mass adoption, we must also optimize the user interaction experience, ensuring it is as intuitive and popular as Web2 platforms.

XION is poised to be a key force in driving the mass adoption of Web3, with a mission that goes beyond technological advancement to lay the foundation for a "Web3 cultural revolution." By simplifying the user experience and eliminating technological barriers, XION is paving the way for the future of Web3, making it truly accessible to a broader user base.