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Crypto UX and Mass Adoption

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Talk on current state of user experience in dApps and challenges to make it mainstream. I discuss about the user flow for buying a cryptokitty, current DAUs for dApps and some proposals to address the challenges in private key management and key recovery

Veröffentlicht in: Technologie
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Crypto UX and Mass Adoption

  1. 1. CryptoUX and Mass Adoption Pranay Prateek @pranay01 pranay01.com
  2. 2. Who doesn’t like Kitties?
  3. 3. Prompt to install metamask
  4. 4. Install Add on
  5. 5. Permissions!
  6. 6. Finally Installed!
  7. 7. Create Password!
  8. 8. Whoever cares about this!
  9. 9. More scaring tactics! What am I getting myself into?
  10. 10. Secrets!
  11. 11. No kidding! Choose the words in the same order!
  12. 12. Finally! We are in, but no ETH :(
  13. 13. You can do direct deposit or buy from exchange
  14. 14. Or send ETH to metamask account
  15. 15. How do you get ETH Mine Need specialized hardware - not possible for crypto layman Buy Buying remains as the only option
  16. 16. Go through KYC process Aadhar/PAN card Difficult in India given RBIs ring fencing of banks Buy in Exchanges
  17. 17. Reward time!
  18. 18. 30% as transaction fees
  19. 19. Current UX still very crappy ● Even before interacting with a dapp ○ Need to have wallet ○ Have Ether/other crypto-tokens ● No password recovery for wallets ○ Wallets susceptible to hacks ● No way to block fraudulent transactions etc. (like Banks)
  20. 20. Money! Money! Money! Only speculators go through so many hoops ICOs have been the killer app - as it introduced so many people to crypto The promise of insane riches
  21. 21. dApp Usage Source: dappradar.com
  22. 22. dApp usage ● Only decentralised exchanges and gambling sites have highest usage ● Any dApp which are not for trading/speculation/gambling doesn’t have much DAU ● Augur much hyped - only has ~50 DAUs
  23. 23. To summarise ● dApp designs primarily for dev/geeks. ● Scares away normal people ● Users can't be expected to secure private keys/ mnemonic phases when they are going on with their lives. ● All these complexities need to be abstracted aways
  24. 24. How can this be improved? ?
  25. 25. Key Issues ● Private Key Management ○ Need to have wallet ○ Need to have Ether in the wallet ● No simple ID system ● Key Recovery
  26. 26. Private Key Management ● Gnosis Safe ● WalletConnect - An open-source project that enables desktop Dapps to interact with mobile Wallets. ● Shamir's Secret Sharing - Sharded private keys with friends which enables authentication only when n-out of-m keys are available
  27. 27. Identity/Biometric based mechanisms ● Based on Identity contracts ● Biometric based using fuzzy extractor ○ Suffer from privacy issues - biometrics can be extracted from public sources ○ more amenable to rubber hose attack - using coercion to obtain biometrics ● Using Iris scan to generate private key What are the issues with tying private keys with Identity?
  28. 28. Gnosis Safe
  29. 29. Mobile App
  30. 30. Works with Browser extension
  31. 31. Technical Details ● Under the hood, mobile app, browser extension and recovery keys translate to four signers. Two of them are required to make a transaction ● Creating a Safe wallet implies deploying a smart contract on the Ethereum blockchain. Simply need to fund the address of your new Safe. Reference : Gnosis blog
  32. 32. Gnosis Safe advantages ● The mobile app is the main point of interaction where all transactions are submitted from. ● The browser extension acts as an additional security layer. ● All transactions done with the Safe also need to be confirmed by the browser extension. ● The browser extension allows interaction with dApps via the web browser.
  33. 33. ENS based UniversalID system Project Repo
  34. 34. dApp with Universal ID login
  35. 35. A toy dApp which tracks your clicks
  36. 36. Logging in from other device Each new device acts as an authentication factor
  37. 37. Waiting for approval from main client
  38. 38. Authorization on original client
  39. 39. Now the same ID can be used in new client as well
  40. 40. Technical Details Source : Talk by Alex van de Sande
  41. 41. Key Features Reference: Universal Logins: First Demo ● No need to type or remember a password anywhere ● Instant login in multiple devices ● No need to download or install anything extra ● No single server with private data that can be attacked or leaked (but beware of the public data you share on the blockchain) ● The user can take the account they created in one app and use it to login in another app
  42. 42. Thank You! Questions? @pranay01 pranay01.com

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