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    how NFTs became a global brand and a Web3 “social currency”

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    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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  • NFT
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    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

    PEPE GAMES Integrates with GaFin to Power the Meme Gaming Hub

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    NFTs Stage a Summer Comeback: Blue-Chips Reclaim Spotlight in July Rally

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    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

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    SoonVerse Partners with Arris to Enhance User Experience

    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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    What’s the Difference & Which Is Better to Trade?

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What Is Copy Trading in Crypto? A Beginner’s Guide

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Blockchain

Security Concerns and High Transaction Costs Top Obstacles to Mainstream Web3 Adoption: Report

February 24, 2024
in Blockchain
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Security Concerns and High Transaction Costs Top Obstacles to Mainstream Web3 Adoption: Report
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Web3 is ripe for mainstream adoption but there are still a few challenges that need to be addressed before onboarding next billion users onto the next generation of internet built on the blockchain technology, as per a recent survey report by Web3Auth.

While a growing number of people are venturing into this decentralized space, security concerns, high transaction costs, and user-friendliness issues present major roadblocks.

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The survey, encompassing over 3,300 users, developers, and decision-makers across the globe, revealed that nearly half (48%) perceive security risks as the biggest barrier to mainstream adoption. Additionally, 29% of respondents cited high transaction costs as a major deterrent, a stance shared by Ethereum co-founder Vitalik Buterin.

Further challenges include the inherent complexity of blockchain technology and managing private keys. Another 24% mentioned a lack of user-friendly interfaces, highlighting the need for intuitive design to enhance user experience.

Source: Web3Auth

Exploring the Role of UX in Web3 Adoption

The survey report explored the role of UX in Web3 and how developers are shifting their strategy to include Web2 users. The report cited examples of the largest NFT marketplace, OpenSea, now providing the option to sign up through email and passcode, practically enabling users who don’t have a wallet yet to buy and sell in the marketplace without the hassle of setting up a crypto wallet.

Similarly, popular Web3 gaming projects like SkyMavis’ Axie Infinity and Animoca Brands’ Mocaverse have begun implementing email authentication and embedded wallet interfaces, making these decentralized apps feel more familiar to Web2 users.

See also  Bitcoin (BTC) Halving Mining Frenzy Pushes Hashrate to Record High

Moreover, 79% of developers surveyed plan to implement mobile-responsive features, recognizing the importance of mobile-first user behavior.

Developing Countries More Open to Web3 than Developed Countries

A huge majority of the population, about 92%, already knows about crypto, although only 24% are familiar with the concept of web3. The report noted:

“Attitudes towards cryptocurrency vary globally, with noticeable differences between wealthier nations in Europe and Asia, such as Japan and South Korea, and developing nations in Southeast Asia, South America, and Africa. Wealthier nations tend to exhibit skepticism towards cryptocurrency, often associating it with negative concepts like scams, money laundering, and speculation. As a result, they adopt a cautious and reserved stance towards its adoption.”

Majority of Web3 Users Access dApps on Android Devices

68% of Web3 users access dApps from Android devices, while most applications are currently designed for computer screens. Recognizing this gap, 79% of developers plan to implement mobile-responsive features.

Despite one-third of crypto usage being in gaming (1.2 million daily active wallets), a Game Developer Conference survey reported that over 75% of game developers are not interested in blockchain.

Commenting on the report, Zhen Yu Yong, CEO of Web3Auth, emphasized the need for accessibility:

“If you’re building a city, the first step is widening roads and constructing more highways… Similarly, I believe that once we make Web3 accessible and interconnected with our existing digital lives, the floodgates of Web3 traffic will open to a mass audience.”

Tags: AdoptionconcernscostsHighMainstreamobstaclesReportSecurityTopTransactionWeb3

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