Recently, I have shown some of Web3’s incredible features. With its l implementation of decentralization, its users have control over their data! So wherever the user goes, their data will follow them!
It’s not stuck within the gates of a platform! Users’ identities are hidden, and the only truly personal piece of information you can see from a user is their public address, aka their “wallet address.
Web3 has also led to the rise of positively impactful developments that will continue to grow along with many more new ones to come! Including Cryptocurrencies, NFTs, DAOs, Defi, etc. And Web3 is in its early stages.
It is very promising, and even though the market has taken a bit of a hit at the moment, it will not die off. It will continue to grow, so keep an eye out for the latest developments.
Web3 Limitations to Address
What web3 already offers is next level, but it’s very young, so it does come with limitations that need a touchup for it to flourish. But don’t fear, the incredible work that the web3 community has been doing, solutions will come.
Accessibility
The community has grown, but with high transaction fees + high gas fees, it gets expensive. So it's not as accessible in lower-income areas, restricting the growth of web3. But what is so awesome is there are solutions that are being developed to solve this issue.
Network upgrades and layer 2 scaling solutions such as Optimism is a popular solution. These have helped improve the scalability of Ethereum reducing the costs of transactions, and improving accessibility.
And Ethereum 2.0 will be rolling out soon, improving transaction costs significantly, so plenty of good things are coming to improve this issue. Stay tuned because I will definitely be covering the developments!
User Experience
The power the entire web3 community has is beautiful, but the concern with being a part of the community is the technical barrier that rises.
Being able to understand the complex documentation that is essential to navigating the web3 space isn’t the most convenient for a lot of users on web2. And the UI interfaces that are currently out aren’t the most user-friendly.
But there has been progress made to fix these issues as well. Metamask is a vital example of making web3 user-friendly.
Metamask provides a nice friendly UI making it easy to create a wallet, access it, and simplify transactions. But, more work is required to improve the UI of Web3 interfaces across the board for it to be adoptable by the masses.
Education
Education is a proponent that is key to Web3’s success. Developing proper educational models for users to understand how it works.
The transition from web1 to web2 required the development of educational techniques in order for it to be accepted. So for the transition from web2 to web3 to happen, educational techniques must be developed to be accepted.
An example of an effort to educate is Ethereum's Translation Program which I will link below. It is a way of providing an education to everyone on web3 with no language barrier, and it is great seeing the effort taking place.
https://ethereum.org/en/contributing/translation-program/
Centralized Infrastructure
I know web3 is built upon the concept of decentralization. Not under the rain of a data-hungry company. But with how young web3 is, it does depend on some centralized infrastructure like Discord or GitHub to run.
But the web3 community is developing issues to make everything truly decentralized. But it will take some time for that infrastructure to be properly built.
Conclusion
Web3 isn’t perfect, I know it isn’t. But I am very excited for what is to come for its growth! As you see, many solutions are in the works and have already been created to address the issues I listed.
Web3 has a big future ahead of itself and I can see that with my own two eyes. So stay tuned for what is to come. Because it is going to be big, I’m definitely looking forward to it:)
