A HYBRID WEB3 WALLET
For many users, exploring and navigating through crypto and web3 might seem nightmarish. This app aims to make the experience easier and understandable for those navigating a wallet for the first time.
BACKGROUND
New users face many foreign terminologies, errors and are placed in unknown situations that keep them away from this space. While they are interested in the idea of blockchain technology and the things you could do, they’re skeptical to move their funds and use wallets as the process seems too complicated and fear losing their funds in some way.
UNDERSTANDING THE PROBLEM
Conducting small interviews peers and colleagues to uncover pains felt by individuals by helping them navigate through current browser and mobile wallets. It was revealed that:
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Individuals were scared of losing access to their wallet and funds due to not being able to recover their password
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Individuals were afraid of getting cheated/scammed on websites and being unable to recover funds
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Individuals felt the process of transferring assets was too complicated
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Certain terminologies felt alien to individuals.
DEFINING GOALS
Based on these sessions, there were common worries conveyed by users that formed the product vision and resulted in the identification of the following key user stories:
- Data Recovery. Users should be able to regain access to their lost accounts
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Guided Support. Users want to know what they are doing with interactions and commands that are new to them
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Security. Users want a security standard set in place to prevent them from losing assets to phishing scams.
2. Simplified Asset Transfer & Management
Easier for users to navigate through the wallet and helping understand wallets functions.
Some of the added elements include -
- Quick-add a recipient into the contacts book
- Allows the user to add a note for the transaction that can be revisited thorugh the app itself
- General Information about terminologies used in web3
1. Passkey Backup
Upon signing up, you will need an email ID and a biometric scan to register. You will also be asked to create a recovery file on you cloud backup. These three things will be used to recover your wallet on a new device.
Multi-Party Computation technology provides users with keyless wallets. Simply put, this splits the password in two shares. One share is stored on your mobile device and the other on the ZenGo server. It is used by many institutional companies like coinbase.
3. Safer Browsing Experience
To protect users for scams using applications in the browser, they will be given a prompt before connect their wallet to any site. The data for potentially malicious sites will be sourced from wallet users. They can report sites while disconnecting from the site.
