Staq - How to onboard the next 100 million users onto web3

Posted on Jan 10, 2022Read on Mirror.xyz

Rainbow and ENS - A promising pairing

Rainbow and ENS pairing up is a big deal.

Why is Rainbow a big deal - they have built a pretty and user-friendly app that got adopted by the web3 community. “Pretty” and “user-friendly” are rare to see in the crypto world at this early stage, so that was already a market advantage. Users are able to view their NFTs and other crypto assets through their wallet on the Rainbow app. It feels secure and robust, while allowing me to get my business done. Although it’s far from perfect, the engineering gives a promise for a great future.

Why is ENS a big deal - people’s ethereum addresses are usually as follows: E.g. *0x2301ebcad5bff23cabe19db7344dc118560d956a *What if the address was simpler E.g. *doorvesh.eth * That’s basically ENS. ENS stands for Ethereum Name Service, and it allows users to buy domains like doorvesh.eth. Users can get a personalized ethereum address on apps.ens.domains, and it makes transactions like sharing cryptocurrencies and NFTs as simple as sharing your ens address.

Unlike owning a cashapp tag (e.g. $doorvesh) or a twitter handle, owning an ENS address is like owning an asset. Owning an ENS domain occupies space on the blockchain, and having your own custom address is as significant as owning an NFT, or a cryptocurrency. That is why you can currently view your ENS address in your Rainbow wallet right now.

However, Rainbow has been working with ENS to allow users to buy their domains directly within the app, and they recently shared a pic on Twitter on how that might work.

A screenshot shared by Rainbow on Twitter @rainbowdotme

Rainbow’s focus on user experience is the catalyst that ENS needs to get more users to adopt a custom domain on their own. Owning your own custom domain should be the equivalent of having a twitter handle. Sharing your ENS domain should be as simple as sharing your ‘@’.

What does that mean for the bigger picture: One of the big issues in web3 adoption has always been user experience. As we see more platforms figure out user experience, that can open the eyes of others as to what works and what doesn’t. In other interesting cases, this can open paths to meaningful collaborations where one team can focus on creating the product while the other team focuses on delivering that product in a user friendly way.

What could be some meaningful collaborations to look forward to?

  • Coinbase+Cointracker - get better analysis of your assets’ performance
  • dx.app+Rainbow - create tokens and distribute them to your audience right from your phone in a user-friendly, non-confusing way

What I hope to see in the future: I hope to see simple actions like creating your own token, distributing it to your community, and ICO-ing to be actions that can be done by lurkers and web3-obsessed people alike. Barriers of entry should be lowered for the simple ideas.

ENS