What are the top challenges for web3/crypto products?

Question

How do you face and cope with them?

Uma Venugopal · Accepted Answer

Imho, the current state of crypto is not looking super great since many investors who genuinely believed in the startups have had their hands burned with all the scams and fud.

So a new startup really needs to prove it's credibility and track record I presume.

Adithya Narayanan · Answer

Low trust imo. The FTX scandal spread a lot of doubt and fear. I'd say trust is the rarest commodity in web3 now - and products that are finding ways to actively build trust among their users and the ecosystem stand to gain most :)

Joan Mateo Duarte 🚀 · Answer

For me the top challenges are:
1- Interactive, easy, and user-friendly platforms to help people with the transition from web2 to web3. Platforms need to be better with user experience. 
2- Credibility it's a problem that most of the projects are scams.
3- Patience. It's a new technology it's not going to be adopted in the next few days. It takes time.

Petr @42opinionz · Answer

I'd say the main challenges are usability and relevant use cases with acceptable pricing for the masses...

we're still catering to first-world problems with pricing 80% of the world can't afford and usability from 80s. That breeds then security problems and trust issues, IMHO

Sorry,  for the rant, get very passionate about this topic 😃

carlos tipton · Answer

The top challenges for Web3/crypto products include: User adoption: Educating and onboarding users to understand and adopt decentralized technologies and cryptocurrencies can be a crypto revolution significant challenge. Overcoming barriers to entry, simplifying user interfaces, and improving user experiences are crucial for widespread adoption. Scalability: Blockchain networks face scalability issues, as they need to handle a large number of transactions and support growing user bases. Achieving high transaction throughput while maintaining decentralization and security remains a challenge for Web3/crypto products.

Kris Lewis · Answer

Cryptocurrency is actively developing. Today, it occupies a leading position in the financial market and continues to strengthen. It is expected that bitcoin will soon become a common means of payment.

Lourdes Perdon · Answer

There is nothing odd in believing in startups, as I thinketh. And there are no interrelations between a startup and what you fear of. If you go to this website, you will get acquainted with the new perspective cryptocurrencies and their objectives. Maybe they will make you change your mind about the whole trading thing.

anthon · Answer

One of the top challenges for web3/crypto products is the lack of real-world use cases and adoption. Many products in this space are still in the experimental stage and have yet to gain widespread adoption. However, HarbergerToken is an example of a web3/crypto product that is actively addressing real-world needs and use cases.

What are the top challenges for web3/crypto products?

Replies