No amount of transaction throughput will compensate for the mess that crypto UX is. I'm excited about ethereum 2.0 as much as everybody else but let's get real, low tps is not the reason why almost nobody uses dapps, it's for the reasons listed in the article.
Completely agree with Taylor's thoughts here and more power to MyCrypto team!
Crypto & Dapp developers in general are highly sophisticated and tech-savvy. And naturally before the boom their audience was also comprised of learnt individuals.
But Dapps are targeted for general audience -- audience that is taking first step towards a Decentralized future. We shouldn't expect them to know about WETH, GAS. We are talking about an era where visual content has more appeal. Decent UX is a must and sadly something we do not explore while testing the boundaries of Blockchain.
I mean let's look at current Dapps & exchanges in particular; no one feels comfortable using them reason why Binance holds 90% more volume compared to DEXs (Liquidity is another reason but that is talk for another time). One exchange that comes to mind is Resistance, ResDEX which is Private exchange providing 1-click mining, privacy, and trade experience.
Other notable examples are CryptoKitties in gaming (in my opinion extremely cute, easy to use with a clear interface) and some gambling Dapps. Gambling Dapps interestingly have better UX as well.
Article is looking at a solution from a very limited perspective which is the trading of cryptos.
Looking at the bigger picture trading is a small part and really a niche area of cryptos.
The average person does not need to know how to trade, and they don't need confidence to trade.
If one asks the average email or website user, they don't know how SMTP or HTTP works. They don't need to know how protocols handshake or take care of errors or general data flow.
They simply press a few buttons for an application they want to use.
The problem with many Dapps is that they also are looking at only solving problems for the "trading" related space.
What needs to happen is push usage of cryptos. The more people use cryptos the more real world problems will arise that we need to solve.
Personally, it feels like you're looking at this from the limited perspective of trading. Compound was simply used as an example to get the point across here.
This same article can be written about literally every function within the blockchain and cryptocurrency world. Every function that exists now, and every function that will exist in the future, unless **everyone** starts taking UX seriously.
It's not about trading specifically, it's not about Compound specifically. Compound was used as an example. And even then, the point is not to show and explain everything that's going on. The user isn't asking you to explain what SMTP or HTTP is or how it works, and we don't have to explain everything going on behind the scenes in blockchain either. In fact, most blockchain-related things going on behind the scene SHOULD be abstracted and not visible on the front-end.
The point is to make the user feel confident in what they're doing and not like an idiot or not scared that they're going to fuck something up. That applies to much, much more than trading.
Educating users inline is not a viable option. Yes there is a learning curve but not if you understand ethereum. And if you dont understand ethereum you shouldn't be learning it with large amounts of real money. From AWS to Photoshop, you can have tutorials/forums but the MyCrypto blanket warning is scarier than any dapp ux.
Most Dapps with real use have pretty damn solid ux (again, unless you have no idea what you're looking at). A clear separation between provider and application is more important than seamlessly letting users part with their money.
> Yes there is a learning curve but not if you understand ethereum
Understanding Ethereum is Point B. We need to be able to get them there. (Also depends on what "understanding" means to you)
We can't have an underlying assumption or expectation that every user that comes to MyCrypto or a dapp will already understand Ethereum, and I believe that it IS a viable option to educate users inline, within reason.
Sure, it's ideal for each user who comes to MyCrypto to already know what the hell they're doing, but we have to prepare for the people who hear about it on the news or from a friend or family member, see dollar signs in their head, and then dive in. Those are the people we have to prepare for and the people who we need to attempt to protect from themselves.
>Most Dapps with real use have pretty damn solid ux
I highly disagree with this. I don't want to assume the level of knowledge you have or what perspective you have, but I feel like most dapps have piss poor ux [right now]. I'm speaking as someone who is running marketing for a company and has to think about all types of users and all perspectives - I feel like every user outside of the been-in-crypto-for-years segment is going to be totally lost using ANY currently-existing dapp's UX.