The DeFi Download

Zerion - creating a web3 wallet for the mass market

• Radix DLT

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In this episode of the DeFi Download, Piers Ridyard and Evgeny Yurtaev, CEO and co-founder of Zerion, discuss the importance of smart wallets that help users avoid mistakes, the upcoming Zerion extension release, and the challenges of designing a user-friendly onboarding process for Web3.  

Summary

Zerion is a Web3 non-custodial crypto wallet and asset management platform. It is designed to provide users with a seamless and secure experience when managing their digital assets. The Zerion Wallet has gained over 100,000 users and facilitated more than 600,000 transactions with over $1.5 billion in volume since June 2022.

With the upcoming release of the Zerion browser extension, users can expect even more features and functionalities that will enhance their experience. For instance, the extension will offer transparency during transaction signing and website validation. Zerion has a large and active Discord community and an API for Web3 developers.

Key takeaways

  • Seed phrase-based wallets are currently the most accessible and easiest to use, and Zerion is researching account abstraction and multi-party computation for better user experience and security.
  • The upcoming Zerion browser extension will offer transparency during transaction signing and phishing website checks.
  • Web3 can enhance finance and internet user experience by focusing on the user's data. Wallets must provide a good user experience to promote free competition and enable users to choose the best wallet interfaces.

Chapters

[01:25] The user experience of crypto wallets and recent hacks, as well as the idea behind Zerion and why it was built

[03:35] Zerion’s key insights and unique selling proposition in the crypto wallet market

[06:21] The reasons behind the poor user experience of crypto wallets and the importance of fixing it

[08:14] Web3’s role in enabling flexible user experiences for crypto wallets, Evgeny’s views on its impact on business opportunities, and Zerion’s competitive advantage

[11:07] The future of crypto wallet user experience, according to Evgeny: specialisation and personalization, similar to operating systems

[12:51] The role of crypto wallets in the industry compared to messaging, decentralised social media, and file storage and their potential expansion to include such services

[15:57] Current availability of the best possible public-private key infrastructure, the bifurcation of the crypto wallets between authentication and asset control vs. all-in-one services, and the thin versus fat stack debate

[18:25] How Zerion helps users avoid losing assets through blind signing mistakes

[20:09] The problem of seed phrases: the anti-seed-phrase movement, Zerion's standard form using private keys, and their plans for social recovery

[22:26] The benefits of account abstraction, its integration into the Radix ledger, and the challenges of user onboarding

[25:04] The challenge of being backwards compatible with past technologies and the advantages of a new ledger like Radix

[25:38] Zerion's goals for 2023

[27:23] The Zerion Browser Extension

[28:48] The best place to get started with Zerion

[29:32] The first thing to do after downloading the Zerion Wallet

Further resources