The Future of Web3 Will Be Multichain and Chainless at the Same Time. A significant portion of the ideology. Conviction that underpins Web3 focuses on the elimination of middlemen. The creation of a future in which people have self-ownership over the financial assets they have. The decisions they make. Multiple chains and layer 2s have come up to scale Web3. But there’s a lot of friction between these chains leading to lower network effects. There is a compelling argument for replacing existing financial systems. With cryptographic technology; nevertheless. The solution is not to adopt monolithic blockchains. Which confines users to the ecosystems in which they operate. It merely gives the impression of freedom when it comes to finances. This is misleading because centralization has shown its limitations.
Not to mention the extensive list of challenges that are waiting for consumers who move into Web3 space. The user experience is cumbersome, users are responsible for managing their wallets and keys, and there are few “killer apps” available. And then, as Web3 has progressed toward a multichain architecture, the burden of coping with friction across chains has made the experience even more unpleasant. While we’re still early, the winners of Web3 will be the ones laser-focused on building a viable experience. At this juncture, the importance of a chainless experience cannot be overstated.
Holding users captive on one blockchain and then confusing them with overly technical processes won’t encourage participation. What if, however, we were able to abstract their cross-chain procedures into the background? Thereby relieving the user of the need to worry about them. Dapps, also known as decentralized applications, and products that are produced on-chain will facilitate improved involvement without jeopardizing the Web3 network’s core decentralized function.
No one chain to rule them all
A common narrative is that one chain will eventually solve a myriad of problems faced by others, from gas fees to transaction times, and eventually become “the one” blockchain. Every shiny new blockchain is filled with promises of unlocking the holy grail of Web3, but history shows that this only results in exposing the blockchain’s flaws. New chains will open to propose solutions, and innovation will continue. While these new chains navigate fresh challenges and technical hurdles, they also become fertile ground for builders to experiment with new projects, further fueling interest and communities in Web3.
The Future of Web3 Will Be Multichain and Chainless at the Same Time. This flywheel of busyness is healthy for all of us. For example, over the past year, Solana’s (SOL) lock value has grown from USD 152m to USD 7.87bn, indicating increased investment in China. As different chains grow in power, the need to move between them becomes more important – as consumers will need options and mobility across chains. This is true freedom in Web3.
Currently, bridges are the mechanism for transferring across chains. Most users don’t want to deal with using bridges, moving their funds around, managing multiple chains, etc. Another issue is security. A bridge hack in February this year proved to be the biggest in crypto at the time. The wormhole hack saw US$321 million stolen. As the reality of a multi-chain future beckons, the need to connect bridges becomes undeniable. Bridges will be critical to Web 3 infrastructure, but their user experience will have to improve by leaps and bounds.
Chainlessness as an answer
While bridges may be indispensable, they also add complications. This is why interoperability cannot exist if chains are still front and center in the user experience. To accelerate Web3 adoption, we need to ask, “How can we eliminate and simplify cross-chain processes?” Do we need to see and process every part of the bridging or transaction? Just as something you order from Amazon arrives at your door in a few days, Deep and other projects building on-chain can hide the nuts and bolts behind the scenes while remaining transparent and decentralized. are
The Future of Web3 Will Be Multichain and Chainless at the Same Time. That’s the key philosophy behind chainless – users should be able to use any app on any chain just like they use a Web2 app. A prime example is NFTs in play-2-earn (P2E) games. In 2021 and this year, P2E has become a major entry point into crypto. Axie Infinity founder Alexander Leonard Larson said during a panel at the Token 2049 conference that half of the game’s players had never used a crypto app before.
This makes sense for a couple of reasons.
Many people enjoy playing games. Few people have the technical expertise in DeFi. That’s why it’s “easy” to jump from gaming to crypto through something as familiar as a mobile game. A more glaring reason is that P2E games somewhat obscure the complex mechanisms going on behind the scenes. For example, DeFi Land is a productive farming game on Solana that hides the more complex financial elements of productive farming behind a fun user experience. It lays the chain and mechanism behind an enjoyable gamified experience.
While gaming is a great example of an over-chained experience, Axie also offers insight into the decline of siled chains in particular. Since Axie Infinity was built on its chain, that means users coming through this particular game don’t have access to other Web3 products and projects. Thus, P2E, in this case, ends up being an onboarding mechanism. If Axie Infinity was connected to other chains with unique value propositions, players would simply see the game as a fun access point, with the freedom to move into other Web3 projects and ecosystems. The onboarding of players is in progress.
Changing the price of admission
This mindset is not sustainable if we want to make our blockchain technology inclusive and available to everyone. With an effectively chainless yet multi-chain experience, users will be able to traverse chains without having to execute dozens of technical commands. They can easily move assets, NFTs, and their user identities between worlds to work, live, and play.