Invisible Infrastructure Phase 05 | Dialogue with OKX Web3: Three Core Advantages of Plugin Wallets

A question: As a Web3 user, do you often use plugin wallets or mobile wallets?

More and more similarities are being discovered between the internet and the crypto industry.

It seems to replicate the process of the internet moving from PC to mobile. Since the rise of blockchain and decentralized technologies, the early main interaction method in the crypto industry also began with browser plugin wallets on PC and gradually integrated with the developing mobile wallets. In the early days of the industry, the emergence of plugin wallets broke the technical barriers for users to interact with blockchain, allowing ordinary users to use blockchain applications without writing code, and quickly became an important tool for users to enter the decentralized world.

The early representative of plugin wallets was MetaMask, launched in 2016, which became the first plugin wallet that allowed users to connect directly to the Ethereum blockchain via a browser. Additionally, with the development of Web3 applications such as DeFi, NFTs, and GameFi, user demands for plugin wallets have continuously evolved. Entering 2021, with the launch of a new generation of Web3 wallets represented by the OKX Web3 plugin wallet, the functions of plugin wallets began to expand from simple asset storage and transfer to supporting multi-chain, cross-chain, DApp connections, NFT management, and integrating DeFi services, rapidly accumulating a large user base thanks to its user-friendly operational experience.

As a unified Web3 wallet across App, plugin, and web, the Invisible Infrastructure Phase 05 will focus on the OKX Web3 plugin, delving into the product thoughts and designs of the OKX Web3 plugin wallet team through dialogue, and hoping to help users better find a Web3 plugin wallet that suits their needs.

Simple Sharing of Several Highlight Features

OKX Web3: Yes, the OKX Web3 plugin wallet has many practical features, and we can briefly list a few:

First, Batch Tools

We have designed a comprehensive set of batch operation tools that cover the entire process management from account import, creation, renaming, transfer to export, aiming to provide users with an efficient and convenient account management solution. This is especially suitable for users who need to manage a large number of accounts and perform cross-chain operations, helping them achieve more efficient asset management and operations.

For example, users can create up to 1000 accounts in batches with a simple one-click operation and flexibly choose between one-to-many, many-to-one, or many-to-many transfer modes, greatly meeting the needs for large-scale account management and transactions, enhancing operational efficiency. Currently, the batch transfer function supports multiple mainstream public chains, including EVM chains, Solana, SUI, Aptos, and TON, allowing users to transfer more conveniently in a multi-chain environment.

Additionally, the OKX Web3 plugin wallet also provides Bitcoin users with more efficient and convenient Fractal Bitcoin inscription tools and Runes splitting and merging tools, enhancing the trading experience of users with Bitcoin ecosystem inscription assets.

Second, Multi-Chain DeFi Dashboard

The OKX Web3 plugin wallet has taken the lead in supporting multi-chain DeFi dashboard display, allowing users to manage DeFi activities and assets across different chains in one interface, helping users track their trading portfolio in real-time and manage it flexibly.

Third, Features for Professional Users "RPC Mode"

Professional users often need to enhance network performance through custom nodes, and the OKX Web3 plugin wallet supports adding multiple RPCs on the same network, enabling intelligent switching and load balancing of nodes, ensuring smooth operations during network congestion or node failures. This not only greatly improves user flexibility but also allows them to optimize the speed and stability of on-chain interactions according to specific needs. This feature provides more customized options for professional users with high on-chain performance requirements, allowing them to enjoy a more optimized on-chain experience in different scenarios.

Overall, the core design of these features is to enhance user efficiency and experience, especially for those managing multiple on-chain assets simultaneously. The batch operation tools significantly reduce repetitive work, whether in account management or multi-chain transfers, saving users time. The multi-chain DeFi dashboard addresses the hassle of switching assets across different chains, providing a unified interface that allows them to easily grasp their asset status. The RPC mode particularly optimizes network response speed for professional users, enhancing the overall experience, especially when high-frequency trading or running complex smart contracts is required.

Three Core Characteristics of Web3 Plugin Wallets

OKX Web3: The three core characteristics of Web3 plugin wallets can be summarized as "Fast," "Comprehensive," and "Deep," which allow the OKX Web3 plugin wallet to stand out in a competitive market:

First, Fast: Our wallet can quickly connect to hot protocols, ensuring that users can experience the latest Web3 applications and hot projects at the first opportunity, thanks to efficient review processes and strong underlying technology. The wallet also guarantees fast and smooth operations through a lightweight design, providing users with a better experience when discovering hot topics.

Second, Comprehensive: At the tool level, the OKX Web3 plugin wallet provides a one-stop service, integrating various functions required by Web3. Users can complete complex on-chain operations without relying on additional tools, fully meeting their needs from asset management to protocol interaction, achieving a seamless combination of plugins and Web3 functionalities.

Third, Deep: Our wallet is not just a tool but also an interactive entry point for on-chain operations. For example, it takes the lead in supporting innovative features like Blinks, allowing users to participate more deeply and conveniently in the Web3 ecosystem, further enhancing the user experience. This not only enables the OKX Web3 plugin wallet to quickly respond to market demands but also provides comprehensive tool support and deep user experiences.

What Are Your Latest Developments and Updates?

OKX Web3: While continuously meeting the needs of professional users, the plugin wallet is also constantly adding more user-friendly features for novice users, ensuring that users of different levels can have a better experience.

In terms of professional user features, the plugin wallet has launched the "Sidebar Mode," significantly improving interaction speed and the richness of information display for professional users. Additionally, leveraging the underlying technology of the OKX Web3 wallet, we provide multi-chain DeFi dashboards for DeFi users, supporting not only EVM chains but also covering heterogeneous chains like Solana, SEI, Aptos, and SUI, helping users efficiently manage their crypto assets.

At the same time, we place great importance on the experience of novice users. The OKX Web3 plugin wallet will launch a "Safe Mode," providing whitelist transfer functions and DApp interaction mechanisms for novice users to avoid operational errors and private key leakage risks. Furthermore, we have comprehensively optimized the onboarding process, adding personalized DApp recommendation features and providing more easy-to-understand tutorials to help novice users quickly get started and easily enter the Web3 world.

Does Serving Users Differently as a Unified Web3 Wallet Across Three Platforms?

OKX Web3: Different types of Web3 wallets provide their unique experiences based on user habits and needs, with plugin, mobile, and web wallets each having their focus:

1) Plugin wallets are primarily aimed at professional users, such as DeFi farmers, airdrop hunters, and traders, facilitating direct interaction with DApps within the browser, suitable for scenarios that frequently use DeFi and NFTs. Users can also customize nodes, manage multi-chain assets, and support complex cross-chain operations, etc.

2) Mobile wallets emphasize portability, with interface designs typically being more user-friendly, making them more suitable for novice users and those needing to manage assets anytime and anywhere. They offer simple and flexible operations while balancing comprehensive functionality and security, catering to users who require multi-device compatibility and deeper functionalities.

3) Web wallets often serve as information display dashboards, usually lacking actual asset management functions, more for monitoring and viewing on-chain data.

What Recent Innovations in Web3 Wallets Are You Paying Attention To?

OKX Web3: Plugin wallets need to operate within browsers or clients, such as Chrome or Telegram. This combination with browsers and clients brings rich innovation opportunities for plugin wallets, such as the recently launched Blink and Sidebar. These innovations not only enhance user interaction experiences but also expand the application scenarios of plugin wallets, helping users achieve a better balance between operational convenience and functional extensibility.

Solana Blinks is an innovation on the Solana chain that converts on-chain operations into shareable interactive links. These "Blinks" allow users to perform blockchain transactions directly on social media or other websites without leaving the current platform, such as voting, minting, exchanging, or making payments. For example, users can embed a Blink link in social media posts, allowing others to purchase NFTs or stake tokens with a click, without switching to other DApps.

When users click on a Blink, compatible Solana wallets automatically interpret the operation, allowing users to approve and complete the transaction. This greatly simplifies complex blockchain interactions, making them as easy as clicking a link. Blinks successfully bridge Web2 and Web3 by integrating blockchain functionalities into common Web2 platforms, providing a more user-friendly crypto trading experience. In the future, Blinks may also support cross-chain functionalities, further enhancing their practicality.

The Sidebar feature of Web3 wallets is a type of interface design, typically located in the sidebar of wallet plugins or applications, used to display users' on-chain assets and real-time data. In professional user scenarios, the Sidebar provides more visual information and interactive operations, such as displaying account balances, transaction records, on-chain assets, DeFi trading portfolios, etc., allowing users to quickly access important data and operation options when interacting with DApps.

For products like the OKX Web3 plugin wallet, the Sidebar mode can enhance user work efficiency, especially for DeFi farmers or professional traders who need to operate frequently. By centrally displaying multi-chain information and real-time data, users do not need to frequently switch windows or interfaces, greatly simplifying complex on-chain operation processes.

What Optimizations Have Been Made for New Users in Interface Design?

OKX Web3: We have made several optimizations to enhance the experience for new users, which can be exemplified in the following two aspects:

1) Simplified User Interface: The OKX Web3 plugin wallet adopts an intuitive and simple interface design, significantly lowering the technical threshold. The interface layout is clear, with core functions such as sending, receiving, and viewing assets being straightforward, avoiding the use of complex technical terms or Web3 jargon. This design is particularly aimed at new users, allowing them to understand and operate more quickly, reducing confusion due to unfamiliarity with blockchain technology.

2) Intelligent Risk Alerts and Optimizations: To ensure the asset security of new users, we have introduced an intelligent risk alert feature. The wallet automatically detects and alerts users to potential malicious contracts or high-risk operations, helping users minimize unnecessary losses. Additionally, during transactions, the system automatically selects better Gas fees, simplifying the steps for users to manually adjust, making transactions more efficient and convenient.

In fact, these improvements not only enhance the wallet's usability but also help new users achieve a smoother experience while ensuring asset security and operational efficiency.

Key Measures to Protect User Asset Security

OKX Web3: Currently, the OKX Web3 plugin wallet implements security protections in the following areas:

First, Malicious DApp Detection

Some DApps may pose phishing risks, and users may be induced to sign malicious transactions during use, leading to fund losses. To prevent this, the OKX Web3 plugin wallet provides a domain risk detection service. When users access potentially malicious DApps, the system automatically pops up an alert window, clearly informing users of the risks associated with the website, helping them avoid dangerous operations in a timely manner.

Second, Pre-Signing Transaction Risk Interception

Before users sign transactions, the OKX Web3 wallet automatically performs pre-signing risk detection. If the transaction involves risky addresses, Ethsign risk signatures, authorization of external accounts (EOA), or zero-cost purchases, the system will pop up risk alerts on the signing page, reminding users of potential security threats. This effectively prevents users from unknowingly signing high-risk transactions.

Third, Risk Authorization Alerts

If users have existing authorizations with potential risks, the OKX Web3 plugin wallet will prominently alert them on the homepage. Users can follow the prompts to access the web page to view and manage these authorizations, ensuring their assets are not at risk.

Fourth, Risk Filtering in Transaction History

Users' transaction histories may be polluted by spam airdrops, similar address attacks, etc., leading to users being induced to participate in phishing transactions and causing asset losses. To address this issue, the OKX Web3 plugin wallet identifies transactions involving these risks and defaults to hiding risky transactions for users, helping them avoid being maliciously guided from the root.

These functional optimizations not only enhance the user experience but also significantly strengthen the wallet's security, providing users with a safer on-chain operation environment. Through multi-layered risk detection and alert mechanisms, the OKX Web3 plugin wallet effectively protects users' asset security.

How to Achieve Support for Multi-Chain?

OKX Web3: Different blockchains have built a thriving ecosystem, but they also bring inconvenience to users when managing cross-chain assets. The OKX Web3 wallet actively responds to these challenges, conducting in-depth research and quickly integrating every new heterogeneous chain, allowing users to seamlessly manage multi-chain assets. Through innovative "Aggregated Tokens" and "Chain Filtering" features, users can easily manage assets across different chains, simplifying the complexity of multi-chain interactions.

Incompatibility issues often exist between different chains. The OKX Web3 wallet addresses this by designing clear and intuitive interaction interfaces for various scenarios, helping users quickly distinguish and handle operational needs across different chains. This not only enhances the user experience of multi-chain management but also provides users with more flexibility and control.

Through these innovations, the OKX wallet has achieved the first step of chain abstraction, further simplifying the process of multi-chain asset management and providing users with a more unified and efficient multi-chain solution.

How to Maintain Competitiveness in the Rapidly Evolving Web3 Market? And Future Innovation Directions

OKX Web3: The core of maintaining competitiveness lies in deeply understanding user needs and anticipating their potential interests, even guiding them to explore new possibilities before they realize their needs. In the future, the innovation direction of the OKX Web3 plugin wallet will focus on the following aspects:

First, Integrating AI to Provide Intelligent Experiences: The OKX Web3 plugin wallet will deeply integrate with AI technology to provide users with personalized recommendations. Based on users' preferences, historical operations, and market trends, it will intelligently recommend suitable projects and features, helping users discover interesting hot areas and keeping them at the forefront of Web3 innovation.

Second, Breaking the Limitations of Browsers: The OKX Web3 plugin wallet will not be limited to usage scenarios within browsers; it may expand to other display forms in the future, providing more diverse user experiences and interaction methods. This cross-platform expansion will enable users to easily manage and use their Web3 assets in a wider range of scenarios.

Third, Continuous Innovation Close to Users: We will continue to listen to user feedback and iterate updates closely around user needs. Through ongoing user research and community interaction, we will ensure that the wallet's development direction aligns with user expectations, thus creating a more personalized and user-friendly product.

The future Web3 ecosystem will be more complex and diverse, and the OKX Web3 plugin wallet will continuously enhance user experience through technological innovation and user-oriented strategies, maintaining its leading position in the industry.

What Are the Future Development Trends of Web3 Plugin Wallets?

OKX Web3: Plugin wallets are not just tools; their future development direction is to become a platform for users to discover the Web3 world. The core goal is to help OKX Web3 wallet users obtain accurate Web3 industry information at the first opportunity by integrating different channels and display forms. In this way, the plugin wallet will not only be limited to asset management but will also become a comprehensive entry point into the Web3 ecosystem, helping users easily explore the latest projects and trends.

Through this platform transformation, users will no longer need to frequently switch between multiple platforms, greatly simplifying the complexity of cross-platform operations and enhancing overall operational smoothness and efficiency. In the future, the plugin wallet will not only be a tool but also an information integration and intelligent Web3 navigation platform, helping users comprehensively grasp market dynamics, further enhancing its importance in the Web3 ecosystem.

Disclaimer

This content is for reference only and does not constitute or should not be regarded as (i) investment advice or recommendations, (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. We do not guarantee the accuracy, completeness, or usefulness of such information. Digital assets (including stablecoins and NFTs) are subject to market fluctuations, involve high risks, and may depreciate or even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation and risk tolerance. Please consult your legal/tax/investment professionals regarding your specific situation. Not all products are available in all regions. For more details, please refer to OKX's terms of service and risk disclosure & disclaimer. The OKX Web3 wallet and its derivative services are subject to separate terms of service. You are responsible for understanding and complying with applicable local laws and regulations.