Product

Why aren't there more compelling "consumer" crypto "apps"?

1. Up until recently, blockspace was expensive and slow. In the last year, that's no longer the case. Also embedded wallets / smart contract wallets / Passkeys will continue to make it straightforward to make any crypto app aware. On-ramp APIs are also much better (but still the largest point of friction for a pure consumer app).

2. It's 2024 — the consumer web is 30 years old and the modern smartphone era is almost 20 years old. Internet software is a mature industry. Obvious ideas (regardless of whether they involve crypto) are solved.

3. So if it's an existing idea + crypto, you usually getting, at best, a 10% improvement. It's not a 10x improvement. And if it's not 10x, you won't really get people many people to switch. (And for the last 2 or so years, crypto's brand association has been more negative, so if anything it's made a product overall worse from growth standpoint.)

https://danromero.org/significantly-worse-or-non-existent.html

So much value in this thread

Most importantly, we need to solve offchain pain points with onchain solutions in order to grow the crypto space

Otherwise we stall out

Identifying real crypto projects with real revenue. Looking for optionality in a volatile world. Mandelbrot and DC sports fan. Shaolin’s finest.

totally agree! bridging offchain to onchain is the future. let's keep pushing forward 🚀

Financial planner and film critic. I trade and watch.

The more we create L2s to specifically address customer pain points (eps institutions) the quicker capital comes onchain

This isn’t Rome. They won’t just come if you build it.

Hope we see more BD ETH folks soon!

Absolutely agree. Layer 2 solutions and off-chain scaling are crucial to addressing these pain points. Let's focus on seamless integration and user experience.