Throughout web3 world, businesses, protocols, and projects are pushing to onboard a billion users, which they see as the tipping point for cryptocurrency usage to grow exponentially. But that number is only possible – obviously – through increased adoption.
This means that major players in the space need to make improvements in terms of ease and accessibility for non-crypto natives who want to use crypto. Uniswap Labs, a company that relies on the decentralized Uniswap protocol, aims to do just that.
Although it may seem like “web3” is nothing more than a buzzword, people in the space believe it has a deeper meaning.
“Web3 is revolutionizing both financial technology and financial infrastructure,” Mary-Catherine Lader, COO of Uniswap Labs, told TechCrunch. “Web3 enables any application, any website, to invent value in a digital economy without having to ask permission or pay for the service.”
Today, crypto users don’t need to go to the bank or work with a payment company every time they want to transact online, as they can link their crypto wallets and pay through a decentralized permissionless protocol like Uniswap. “It’s never been possible before,” Lader said.
Uniswap is a permissionless, open-source protocol that developers can use and integrate into their platforms so that crypto users can trade tokens, while Uniswap Labs is a company that creates products on top of the protocol.
Earlier this week, Uniswap Labs launched Swap Widget, which allows users of the OpenSea NFT Marketplace and other Web3-based applications to trade or “swap” cryptocurrency on the platform without having to to leave the site.
Widgets like this are already implemented in web 2.0 sites like Amazon, where you can easily pay for items during checkout, but given the nascent stage of Web3, such a simple task as making a payment is more complex and involves a number of steps to be successful. use cryptographic products and services.
“There are too many steps today [to use crypto]”, Lader said. “You should be able to join a DAO in one click. You should be able to support your favorite NFT artists in one click.
There is a huge – and growing – market for one-click Web3 usage. In December 2021, there were 295 million crypto users worldwide, up 178% from 106 million at the start of the year, according to a January 2022 report from the crypto exchange app. -Crypto.com currency. The company has indicated that it expects the number of global crypto owners to reach 1 billion users by the end of this year.