Out of all the speakers, we were, of course, most excited about Vitalik’s presentation. His ideas always set the direction for Web3 development, and today’s speech was no exception. Let’s break down what Vitalik talked about and how it aligns with what the Gydde team is working on.
The Web3 Problem:
Currently, there are two of the most popular paths for using Web3:
1. Managing your own wallet. You install an app, like 🦊, write down the secret phrase, and take full responsibility for keeping it safe. However, if you lose the phrase, access to your assets is gone forever. We experienced this ourselves: due to a technical error, the secret phrase for a new wallet wasn’t saved, and we lost access to $8,000. This is a risk that users aren’t always willing to take.
2. Centralized solutions. Yes, this option seems easier, but in reality, your money doesn’t truly belong to you. It can be blocked or stolen. Full decentralization is lost here, which means it’s no longer true Web3.
Once you've created a wallet, a new question arises: what’s next? You need funds for gas, liquidity for operations, and that’s where difficulties begin. Bridges, selecting the right wrapped assets, different protocols—all of this complicates the Web3 experience. It’s no surprise that many users get lost in these processes.
User Abstraction: The Solution
Do you know what happens behind the scenes when you send money through a banking app using a phone number? Users don’t need to understand those details to use the service. The same should apply to Web3.
User abstraction means that complex processes are hidden behind a simple, user-friendly interface. Users don’t need to know how blockchain, wallets, or bridges work in order to interact with a product. The simpler it is, the more people will be able to use these technologies without the fear of mistakes or losses.
Our Goal
Our team’s goal is to make using Web3 so simple that even your grandmother could send cryptocurrency with one click. Want to earn passive income on your USDT with around 12% annual yield? No problem. Want to create your own meme token and trade it with friends? Easy. All of this is just one click away, with full decentralization. We don’t have access to users' funds and guarantee the security of their assets.
Web3 doesn’t have to be complicated. At Gydde, we believe the future lies in simplicity and ease of use, while maintaining full decentralization.