devcon 7 / abstract wallets and chains through profiles
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Abstract wallets and chains through Profiles
Duration: 00:10:46
Speaker: Hira Siddiqui, ley, Mujtaba Idrees
Type: Lightning Talk
Expertise: Beginner
Event: Devcon
Date: Nov 2024
Profiles have been key to user retention in Web2 with most people having at least 7 profiles personalizing their experiences on various platforms. In contrast, Web3 lacks profiles, leaving dApps unable to understand user needs resulting in low retention rates. Despite onboarding efforts, 88% of wallets created through account abstraction last year were used less than five times. Perhaps tying user interests and reputation to wallets by creating profiles is the secret sauce for mass web3 adoption
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