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Crypto design challenges
Is wallet the right word? One challenge is that we’re designing for crypto as if it’s purely money (and maybe some NFTs) in a wallet. But the role of the wallet is growing and in the near future it will be so much more than that. Your crypto wallet can become your identity, your interests, your preferences, your knowledge graph, your communication.... See more
Paul Stamatiou • Crypto design challenges
Show me how much money I just lost on gas with this failed transaction. Don't make me go to Etherscan to try to piece it all together; it can be rather confusing to discern on Etherscan with gas price, transaction fee, gas fee and gas usage, especially with EIP-1559.
Paul Stamatiou • Crypto design challenges
One of the reasons I'm so excited about web3 is that everything so desparately needs design help that almost any attention to detail anywhere in any common flow would be tremendously valued. It's like getting in on the ground floor of helping define key interactions in browsers, email clients and other core tools during the formation of Internet.
Paul Stamatiou • Crypto design challenges
Furthermore, more wallets should support multiple blockchains such as Avalanche and Solana. This is a tremendous amount of engineering work, so it's not to be taken lightly.
Paul Stamatiou • Crypto design challenges
Why should we put the onus on new users to know the difference between various blockchains/Layer 2s and know what their wallet can and can't support? It's already hard enough to explain how to safely backup a seed phrase. This lets the people use whatever web3 service they want with minimal overhead.
Paul Stamatiou • Crypto design challenges
In the coming years, hundreds of millions of people will interact with cryptocurrency on-ramps—exchanges and similar services where they can receive their first cryptocurrencies and other crypto assets. For most people, this will be with a centralized exchange (CEX). Exchanges will be most people's first time truly interacting with crypto. Exchange... See more
Paul Stamatiou • Crypto design challenges
How can we attach a knowledge graph to the wallet? A set of public and private preferences, a list of friends, a list of dApps you trust and how much, a list of blocked addresses, dApps and more. This graph data would ideally be a mix of public and private data stored off-chain.
Paul Stamatiou • Crypto design challenges
So you might be thinking.. okay this is totally wrong and even the Bitcoin whitepaper established that cryptographic proof should be used instead of trust for decentralized systems. And that the ethos in the crypto community today is "Don't trust, Verify."
Paul Stamatiou • Crypto design challenges
Web3 guidance & curation: This is the discovery phase for slightly more advanced users that are now asking "What can I do with my crypto?" There are opportunities to help people discover what exists, what is safe to use and guide people along the way. It's 1998 and people rely on AOL or the Yahoo! homepage to show them what's out there. What's the ... See more
Paul Stamatiou • Crypto design challenges
Be hyper transparent around transaction status. We expect things today to be instant but the blockchain is one of the only pieces of modern technology that can feel very slow at times. We need to take great care in displaying transaction status. The average user should never have to visit Etherscan/Polygonscan/etc just to see how much time is left ... See more