A New Starting Point for Web3 Mass Adoption: In-Depth Analysis of the XION Public Chain

For a long time, the potential of Web3 has garnered significant attention, but progress in user adoption has been slow. Currently, the popularization of Web3 in the mainstream world faces two major challenges: functional barriers and cultural barriers. The emerging L1 public chain XION has come into being, aiming to address these two issues. This article will comprehensively explore XION's vision and how it facilitates the large-scale adoption of Web3.

XION: An L1 network focused on simplifying the complexity of crypto

The development team of XION, Burnt, has a unique experience in the Web3 field. They initially explored the possibilities of digital art by burning Banksy's artwork and transforming it into an NFT. In the following year, Burnt focused on developing no-code products and early NFT standards for creators.

In this process, Burnt personally experienced the bottleneck of NFTs' complexity hindering large-scale adoption. They realized that excluding ordinary users and self-satisfaction in a small circle is far from the ultimate goal of Web3.

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

The goal of XION is to promote its widespread adoption by optimizing the functional and cultural aspects of Web3. By focusing on user experience, accessibility, and scalability, XION is dedicated to creating an ecosystem that supports developers and users, thereby maximizing 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, XION can connect to various specialized chains as needed, such as the Secret network (for private user states), Injective chain, and Osmosis chain (for DeFi functionalities), etc. For fiat assets and non-Cosmos ecosystem assets, chains like Axelar and Noble can also be utilized. This "chain interconnectivity" feature allows XION to provide users with more functionalities and creates new application scenarios for developers.

Main Barriers to Web3 Adoption and XION's Solutions

Barrier 1: Complexity of Functionality

For new Web3 users, the initial use of applications may require up to 15 complex steps, taking several days. From selecting the right wallet to obtaining the necessary funds for transactions, these complex processes lead to a user dropout 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 society's negative impression of the Web3 industry.

XION's solution

XION fundamentally redesigns L1, 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, greatly simplifying the traditional complex process.

2. Gas-Free Transactions: XION completely eliminates Gas fees, allowing new users to start interacting with on-chain applications immediately.

3. Complexity of Abstract Wallets: XION simplifies the wallet usage process, allowing new users to create an MPC wallet using only an email address, without the need to download plugins or remember mnemonic phrases.

4. Support for Mobile Devices: XION ensures good mobile support, allowing users to securely access the XION ecosystem anytime and anywhere.

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

Barrier 2: Cultural and Terminology Barriers

In addition to the complexity of functionality, Web3 also faces cultural barriers. For new users, entering the crypto world is like stepping into an unfamiliar universe, filled with unfamiliar terminology and a complex ecosystem. Furthermore, the mainstream society's negative perception of cryptocurrencies also hinders its widespread adoption.

XION's solution

1. Simplified Terminology: XION is committed to simplifying and removing technical jargon, using more easily understandable words, or completely abstracting complex concepts.

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

3. Reduce User Education Requirements: The infrastructure design of XION eliminates most complexities, significantly lowering the learning costs required for users to interact with the application.

Conclusion

XION is not just a technological innovation; it lays the foundation for a cultural revolution in Web3. By creating robust, practical infrastructure and an intuitive user experience layer, XION is poised to be a key force driving the mass adoption of Web3. Its mission goes beyond mere technological advancement, aiming to reshape the entire Web3 ecosystem to make it more inclusive, user-friendly, and accessible.