The following is a guest post by Greg Waisman, Co-founder and COO
Over the last few years, Web3 has been receiving a lot of talk. Promises of a decentralized internet where users control their money and data have sparked excitement across tech-savvy communities worldwide.
Some projections predict that the Web3 market will reach an astonishing $177.58 billion by 2033. However, despite this growth, real-world adoption of Web3 remains low.
This begs the question: what’s holding this space back?
Web3 has broken away from its original course
The original idea of Web3 was revolutionary in its vision: to put control back into the hands of users, eliminate intermediaries, and create a digital world based on interoperability, permissionless systems, and self-custody. Users could manage their assets independently and directly benefit from their data instead of allowing third parties to potentially exploit their users.
But while some progress has been made to this end—think decentralized applications that allow users to play games or stake funds without worrying about middlemen—Web3 hasn’t broken into the mainstream. The promise is there, but the execution, in my mind, is lagging.
Too complex to grasp, not good enough to adopt
One of the biggest barriers to Web3 adoption is its complexity. For the uninitiated, cryptocurrencies and Web3 platforms are difficult to understand and even harder to use. To the average user, they remain this confusing and inaccessible thing that simply exists ‘somewhere out there’. And this is a major hurdle to adoption in daily lives. Unless you’re already part of the crypto world, getting involved feels like trying to navigate a maze.
For example, consider the growing buzz around Layer 2 solutions (L2s) such as Base and Arbitrum. This technology is designed to improve the scalability and efficiency of blockchain networks, making interactions faster and cheaper, thus addressing some of the
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Author: Greg Waisman
