#DappCon22 : Day 2 - Wallets Are Essential For DApps, But Their Usability Mostly Sucks, Zeinzinger

Transcript

okay um as you can see so I'm from the Minerva wallet team uh and we put together a kind of um a wallet which is simple to use but as mobile wallets basically grew over time uh actually they uh they they got more complex and got more difficult and got more hard to to use and basically uh it's not any any more mom friendly or Grandma friendly what we have out there in the space um just to uh to give you a brief history on wallets themselves very kind of on the overview so basically uh it

all started with the Miss browser the ones which are longer in the space uh know that uh I don't know if it worked for you it didn't work for me uh all the time basically you had a browser where you could have in the dabs you had basically a wallet and you had a full note and you had to sync your full notes until you could do any transaction so whenever you started up your laptop you basically couldn't do anything because it was not synced so finally when when metamask basically came uh came to the scene everybody was relieved because now you could actually interact with the system much more conveniently and the browser extension was a kind of a easy

fix for everybody to to use and interact with the blockchain but what's what was generally missing was actually kind of a multi-signature functionality and that was solved by gnosis with the nose is safe 2018 I still remember on Defcon when they basically were still working on the formal verification for the contracts to make them really safe because basically you don't have this kind of easy easy way as you have in Bitcoin to do multi-signature and if we're looking at the old space today we're having uh let's say hundreds maybe thousands of different kind of wallets contract wallets externally owned account wallets so basically where you

only have your private key and of course on the different kind of platforms mobile and and browser and and desktop as well so it is kind of a a kind of a very broad kind of space and it's very hard to to find something suitable generally for the infrastructure to um to say okay how how it's all working I consider actually uh blockchains as Financial kind of systems so even if we had all these great ideas back in 2016-17 where we envisioned Airbnb on blockchain and Uber on blockchain and all kinds of things what we finally currently see maybe it's changing but we

are seeing actually Financial systems in all kinds of variances and wallets are basically the clue in between those things where you basically want to use a the App application either in real life or just on the chain and to interact with it and in the most basic way it's actually just managing your keys but if you work in wallet space you know you need so much more to make it user-friendly that actually people regular people can actually interact with it so when we look at what people have to deal with today let's say normal people which are not

kind of fully accustomed to well not years of experience so they're kind of used to banking apps and whatever kind of thing and they're not kind of Traders and and so on they usually basically get kind of thrown in the face with multi-account multi-chain so it's like it's not just one chain it's like okay you can have friends they tell you about different chains then you're like if you're opening a metamask you can create as many accounts as you like if you're opening I don't know trust wallet you have one seat for every account so it's very different in whatever kind of wallet you're you're doing if you're

taking the minervo wallet you can have multiple accounts all in one interface so you're having account one two three on different kind of chains and then you're having all these Assets in that wallet and if you're taking again metamask you're like okay where do you did I have that asset and what kind of account did I have it where did I trade that one and it was all simple back then when we had just ethereum then it became a little bit more complex with layer 2 and basically evm chains basically freak everybody out if you were taking regular people again so it's like just imagine

how do you want to explain that to your mother or whoever you want to talk to and think they should actually use crypto and that's in my opinion um it's it's causing really a difficulty uh just to just to give you a a sense what we're talking about because you everybody knows a couple of tokens we uh we scan the nurses chain and we all know that there are chains which have more traffic than nurses chain but knows this chain itself has seven million tokens so this is very hard to kind of give anybody any sense to what we're dealing with and how complex that world

is if it's completely open everybody can create a token everybody can clone uni swap we want V2 rename it maybe put some some kind of nice flashy kind of ads have a have a proxy in front of it and kind of change the change basically the contracts in the background as we just heard in the previous talk from Evo that you might be wrecked and even you did not realize because you give infinite allowance on the contract on a different kind of name platform which looks similar like lunizo but wasn't uni swap at all um gas dystopia so even that I like you see 1559

it is kind of very hard to explain to anybody it was hard before and it's harder than now so it's like you were having uh basically uh a fluctuating coin price then you have the base fee you have the priority fee and if you have you guys limit too low you're still kind of not getting it through uh and it's hard to explain if you're thinking about the UI in the wallet how do you kind of transfer this kind of message to somebody okay your transaction failed and now you need to do it again but uh it might have been this or that uh and and therefore the user interface kind of makes it very hard so if you're doing a banking

transaction usually it goes through right so the thing is even if you pay much more usually on a banking transaction uh then uh you are also expecting it to go through this is a kind of expectation again God's is hard to explain girls is hard to kind of uh tell anybody what it does then just to complete that seed phrases managing of seed phrases private keys uh super scary super scary for most people so um like you said before so basically you can you can do recoveries you can do that kind of different ways but as soon

as you kind of give people private keys they will lose it if you give them seed phrases they will lose it and uh and everybody who kind of uh things okay we just have to explain it better is ignoring the fear that people basically just won't start with it if they can lose everything they're on on that kind of system so uh even just this kind of problem alone is enough to keep regular people away from the space so if we are ever want to do this kind of next billion people or next hundred million people or regular people kind of getting

into the space I think we first of all have to think of what kind of applications they need and what kind of fears they have and what kind of interfaces are needed and I would say the most obvious application is payments because that's basically everybody needs more or less every day people are not Traders they're not on exchanges all the time and they are not kind of going into all kind of D5 protocols and they're not farming on blockchains this is not their daily business they have a regular job

they want to just pay for something they actually want and if you are thinking about payments and if you're thinking about and well maybe maybe you got that experience too um I saw when when I whenever I tell people about what I'm doing then uh-huh okay well then uh where can I pay with it that's the usually first questions I get and that usually can't be answered right because you always say oh well you have to exchange you have to off-ramp or you have to use a service provider or you have something on a card which you have to

basically fill with some tokens which are immediately swapped once you do that so people are kind of that's all too complex so you can't really use it I mean I know that there are in very interesting projects in the development that you really can spend your crypto with a card that you can transfer uh between uh between accounts easily or between people easily and uh that's basically the thing what we were looking at when we were working on our user interface which is supposed to be more easy and more understandable for regular users for new users and take away the fear

what what might actually come up when you tell them about crypto and how you can use it so um the team put together a couple of videos which basically run in a loop just in the next couple of slides uh showing you the UI we have been working on I will just talk a little bit about kind of the the things which are uh connected to this one so basically if we think about uh receiving so it's like this let's say you have a point of sale somebody wants to set up uh say well I want to get this much in that token on that chain we actually have a standard

we are just not using it very frequently so it's like I think it's 684 or 685 so you basically send the link where everything is actually encoded you can you can directly specify everything you want and present it as a QR code so as you all know basically uh what you see here is basically the startup of the application you go and receive and the next thing is you're showing the QR code so that somebody's is actually able to just scan that QR code that QR code can be of course shared it can be uh can be encoded with some more

information so that you're not kind of in danger of sending it somewhere some other chain some other kind of contracts on another chain which doesn't exist uh some kind of address and of course you should be able to have an address book where you say okay that's that person that person will get that and I don't have to remember basically the uh the uh the address of that person um what you can already see here is like we put their own noses chain so to get rid of multi-chaininess I would say we just say

okay if we're doing a simple wallet we stick to one chain we just don't kind of go around and say okay you can do something there and you can do something there we have to find ways if we want to send something on another chain we need to find ways how to do that but not kind of make the UI complex so that users are getting confused that they have to bridge something which is highly risky on another chain which they don't know in a way that basically make it simple for the user to do even transfers to other chains so talking about sending sending itself um again it is

one thing which kind of the more options you have sending where what when um is is is tricky in in for a regular user so again startup screen going on send choosing a name choosing a token foreign defining how much you want to send check how much it is in crypto going sense getting basically a preview confirm the preview sending it away and so on and so forth so basically uh having this stepwise process you

probably know it from Argent they do it quite nicely so you have this kind of you have one action on one screen so it's not like okay you can do many things on one screen so one action one screen and you're going through it step by step and finally you're getting a kind of okay that's the overview and we we saw a nice kind of nice idea yesterday and in another talk uh we probably put that in there too so kind of having a different representation of this overview as well uh so that that people really know what they're doing but the other thing is and that's what I meant with people actually fear what might happen with the money so you

probably all have kind of checked first with one eth or net not only let's say 0.1 if uh first if the transaction goes through and then basically sending the whole amount uh so everybody or most people actually do that not to lose that money and make sure that it arrives we should be very clear if as long as we do that we ourselves knowing about the space have fear that we lose our money regular people have fear poor so basically they will not use that kind of stuff um trades one of the other things what we

basically need if we have like seven million tokens on gnosis chain you need to have a simple way to trade and I think from a user interface unit swap kind of did a very nice job to make it as simple as possible having showing really what you only need um the thing is for us if we want to do a mobile wallet which is easy to understand and easy to use we don't want to say okay choose your dap whatever you want we actually think that using Kyle swap in the background as a multi Dex Works quite nicely so we we kind of

think about using Kyle swap in the background so that you get an interface which you're familiar with we are still experimenting with that kind of interface to make it kind of to provide some more functionality also functionality like limit order uh and just regular swapping through cow Swap and then you're like okay you're selecting your token your second looking how much you want to swap you are able to uh to define the expiration dates uh how long it is valid and then you're again sending it off uh to uh in our case basically a relayer

because um one thing you might have seen already in the previews uh there is never any mentioning of gas so uh in that kind of design we don't think that kind of doing anything about Gus even mentioning it should be there so God should be covered so if you're on a rather kind of affordable blockchain like gnosis chain that's fairly simple you can subsidize it uh even and and and do that but on the other side of course uh we also thought about okay how can we handle that uh that basically normal users which have a certain amount

of transactions we'll just have a kind of a a a number of transactions for free and then if they go beyond that so you will get packages so you can can assign a plan you're basically paying a certain amount of fee uh per month so you have a subscription and you have besides the cost coverage you have other kind of options what you basically get in addition as a kind of service uh when you use that kind of wallet but never talking about gas so that's not and you cannot adjust so it's like it's done by binary layer so of course people want to check the

wallets and therefore we created a another kind of thing where you basically go through you're checking your tokens how did it kind of evolve all those things should come in naturally so if you're if you're uh you're kind of you're seeing okay well that's my current balance that's what I at the moment have you can basically check your tokens you go into a token and see how it kind of evolved over time so you see basically a curve of kind of the the changes in value you maybe want to check your nfts you go to your nfts you're seeing uh okay well they're they're all my nfts you can Define

favorites if you want um and that's uh basically the the typical flow of many people which check their wallets kind of every now and then so especially in the very beginning they're checking quite often okay did my portfolio increase or did I get more money or let's say in our case when we have uh streaming money uh in the manure wallet where you basically can use super fluid streams where you get continuously money flowing into your wallet you basically would see your kind of money you actually have all the time increase so it will just kind of run up so if somebody's interested I can I can grab someone with such a shirts then they always can show you

something like that um and of course you should always be able to sell or buy or trade from a particular token so it's like adding something buying something uh selling something uh against kind of fiat currency and as well as of course uh trading it for another token if you think that's just a good time for it and if you say uh I want to place a limit over there you should be able as well so that you're getting the kind of exchange rate You're Expecting um the uh the last slide we put together is basically giving you a little bit of an

overview so again so this is kind of the wallet screen um if you're going to trade that's uh always going through the menu at the bottom activity shows you everything uh depending ones as well as the kind of kind of things which already happened and on profile you have everything there which is either your personal profile your wallet settings uh security uh settings uh your your backup kind of settings or additional services so what we think and that I think was very nicely covered before by Evo in the talk is if you are having a contract

wallet and I think I didn't say that the idea is also to use the noses safe as the contract wallet for that uh that Mobile wallet so you're able to kind of add additional Services which basically makes it simple for regular users that you buy something at a certain rate or that you're kind of getting some security or some insurance for your wallet directly integrated and you can assign it within uh within that UI directly on the profile screen that's basically it I would say next billion people won't care about gas fees

secret recovery phrases breaches dexes or blockchains and layer twos so it's nice to talk about it it's nice to talk in that round about it but we should think about the users and not just think about what is technically interesting and if we want to import more people we need kind of simpler tools simpler user interfaces simple ways to get them into the space and grow the space where we want to have it so thank you very much for your attention and thank you so much foreign for one question as usual

Make It Count I think you did a great job everything is clear to everyone it seems all right let's give it another uh hand for Thomas thank you so much thank you for your presentation