The competition in the Web3 wallet market has entered a fierce state. While upgrading the UI interface and enriching wallet function settings, major wallet projects have also added many user-friendly privacy functions. In fact, in recent years, wallet projects are mainly oriented toward low threshold, personalization, and diverse development directions. Only in this way can we find market positioning in the homogeneous technological competition and target target users.So facing the future of Web3 development, how to further improve the risk control function of Web3 wallet and improve user experience while satisfying security?Will the complexity of interface design bring more difficulties to users? These questions were answered by wallet developers and investment experts at the TinTinWeekly event held last week. If you are also interested in the development of the Web3 wallet market, come and take a look!
wonderful point of view
Web3 wallet development, product design and marketing are equally important
The all-round hosting Web3 wallet is more suitable for users needs
Web3 wallet development needs to focus on risk control and audit services
In the future, Web3 wallet development should further decentralize data control and ownership
Focus on both technology and market to develop superior Web3 wallet projects
Vitaliks development logic is also applicable to Web3 wallets
When we face the question of which is more important, technology development or marketing, the answer may be thousands of people, different faces. The founder of Bitizen once said, Vitalik is both an excellent genius programmer and a poor product manager, which sparked discussions among Web3 enthusiasts. In fact, for wallet development, whether technology or the market should pay more attention to the problem has always been before us. I think this issue should be looked at more objectively and fairly. Product development should not only be considered from the technical dimension, but also from the perspective of commercial feasibility. Vitalik, as an excellent technical person, may have a certain lack of grasp of user experience. I don’t take the business market that seriously,” commented Mr. Mako.For example, when it comes to wallet development, technical personnel may think that the longer the password setting, the better, which represents a kind of security; but for users, whether they can remember a long string of passwords is convenient rather than a threshold. Too high, this is a point that needs to be weighed.
Taking Cobo as an example, Mr. Jamie pointed out that as a full-range hosting solution wallet, it is correct for V God to view the design logic of this product from the perspective of technical logic, because the product includes the consideration of avoiding contract risks; but from In terms of business logic, Cobo will think about and explore ways for products to adapt to customer application scenario needs, and find directions to meet and solve customer pain points.
A perfect Web3 wallet requires excellent technical and product capabilities
In this regard, GerryWon and Mr. Adam expressed different opinions on this point of view. How to arrange the technical ability and the role of the product manager? The key is to see whether the product itself can maximize the capabilities of the two roles. Vitalik is a brilliant technical researcher in his own right. In the entire Ethereum ecosystem, he is not only a technical researcher, but also a project architect. At the same time, one of the most important tasks of the product manager we mentioned is to clarify the target customers (for example, the target customer group of Ethereum is not C-side users, but developers and project parties), so it is more necessary to understand it from the perspective of protocols and applications. Think about user experience and usability and other dimensions. From the perspective of the wallet,This is a users entrance into Web3.Developing such a great application requires strong technical and product capabilities, and this is not a multiple-choice question, Mr. Frost concluded.
Competition in the wallet market is fierce: enriching application scenarios is the key
In addition to the discussion of technology and market selection issues in Web3 wallet development,Finding a unique project positioning is the key to stand out. Wallets are different from traditional payment transaction tools. Wallets are more of a tool for generating and protecting private keys to sign transactions. The users assets are ultimately recorded on the chain, and the blockchain is used to ensure everyones safety. At present, the competition in the Web3 wallet market is very fierce. The reason is that more and more chain-chain scenarios are being developed, including DeFi mining and NFT purchases that require the use of wallets. In this context, Mr. Mako pointed out the advantages of imToken as a new generation wallet: users can use it regardless of national boundaries and have a strong trust mechanism; they are committed to promoting user wallet education so that users can understand the various settings of the wallet.
Cobo, which also continues to pursue functional improvements, has also developed a wallet version that meets the policy compliance environment and is suitable for more user scenarios. Cobo can recommend actual wallet application scenarios according to each customer. At present, it has also won licenses in different regions including Hong Kong, Singapore, and the United States, further expanding Cobos coverage and increasing market share.
The key to break out of the Web3 wallet market is to lower the threshold for users. Gerrywon took the Everpay launched by the team as an example, explaining the natural decentralized storage public chain RWA it adopts (so that there is no limit to the storage of user data assets). A product feature can further extend the traditional financial application scenarios and promote user transactions and circulation.
Wallet security challenges are significant, and risk control is imperative
While the competition in the Web3 wallet market is in full swing, security risks and usage problems about wallets are also appearing frequently. Teacher Adam believes that we must first clarify the current application situation of Web3 wallet, which is a multi-terminal application software with various forms (including browser plug-ins, mobile APPs, and clients).The security audit and testing content required for different forms is different.. Overall, we need to monitor and control the following key points in the development of Web3 wallet:
Client security (preventing page hijacking and ensuring network communication security);
Backend service API security (preventing user privacy leakage);
Blockchain security (key generation, storage and display security);
Signature security (to prevent the risk of being cracked);
On the whole, wallet application development needs to do a good job in risk prevention and control across Web2 to Web3, and the focus is to formulate security rules for business engines. Developers must have high-level security operation skills and awareness to avoid unnecessary risks.
Improve user-friendliness and give users more trust in the wallet
As discussed above, users are not very concerned about the technology development itself in the process of using the wallet, but are particularly concerned about the user experience. For all wallet developers oriented to Web3, balancing security and friendliness is an important proposition that needs to be solved urgently. As imTokens wallet for ordinary users, ease of use is also the key to our consideration. We will cooperate with some third-party security agencies to audit wallets and services, solve risk control problems in a timely manner and inform users. In addition, We attach great importance to helping users use wallets safely through user promotion and guidance, especially the wallet backup function.” Mr. Mako emphasized that imToken is helping users understand wallets and private keys, and this essence is also improving the user-friendliness of wallets sex. In recent times, imToken has put forward 49 demands from the user demand pool for feedback and feature improvements, mainly on price and DApp optimization.
Coincidentally, after 6 years of iteration and improvement in interface design, Cobo has carried out targeted upgrades to user usage scenarios; secondly, Cobo has proposed a one-stop technical solution from the interaction process of DeFi in transactions. These two directions are Cobos ways to improve user-friendliness when designing and developing wallets, and also make users trust the wallet more. As far as Everpay is concerned, the product has warning and shielding functions of risk ratings in terms of security to ensure the safety of users funds; in terms of user-friendliness, it continues to optimize the functional experience. Payment scenarios in daily life.
Faced with the question of whether the interface design will affect the security of the wallet, Mr. Adam firmly believes that a good page design will reflect the stability and usability of a product, so a good product will be more beneficial to users. sense of security. At the same time, there is no necessary relationship between page design and security. The more user information exposed on the page, there may be more privacy risks, so the page design should be as simple as possible. This point is also worthy of consideration and application by all wallet developers.
Support decentralized exploration and decentralize wallet data control
For the future of Web3 wallet development, decentralized exploration has never stopped. Just as various emerging Web3 projects are calling for and realizing user self-ownership,The wallet is also actively providing support for decentralized identity solutions and gradually delegating data control to users.. The upcoming new version of Everpay can lower the threshold for users to use the wallet and does not collect any user data to ensure privacy and security. Actually, the key consideration of Web3 wallet is to expand the user increment and respect the users right to keep their own data and property. We have also been exploring ways to further delegate data ownership and control to users. On the one hand, we collect more The needs of users; on the other hand, it is to gather more funds to fully support the upgrade of the development version, teacher GerryWon summarized.
Cobo has been developing a new smart scientific wallet since last year, allowing users to achieve free transactions and fund allocation through decentralized management. This has also become an important tool for users to operate freely in the DeFi field. At the same time, the self-developed plug-in Cobo Connect can help users directly interact with various underlying protocols on the Cobo platform.I believe that in the future, we will see more Web3 wallet projects that support decentralized identity and privacy protection. As Mr. Frost pointed out, Successful Web3 wallet projects require developers to use their diverse combinations and unlimited imagination.。
