Centralized and decentralized applications in the crypto industry are forming a balance: centralized platforms provide convenient transaction entry and higher security, while decentralized wallets provide a unified on-chain entry and higher privacy, thereby more comprehensively meeting user needs.
Crypto wallets are becoming an important form of decentralized applications. According to the Crypto Wallet Market Outlook 2023 report, the global crypto wallet market size has reached US$8 billion in 2023, and is expected to continue to grow at a compound annual growth rate (CAGR) of 24.2% by 2028, with a total market value exceeding US$20 billion. In addition, according to Statista statistics, the number of global crypto wallet users has exceeded 50 million in 2024, an increase of more than 200% from 2020.
Among them, the user scale of encrypted mobile wallets is expanding due to their higher convenience, and they are becoming Web3 super applications. As of now, the usage rate of mobile wallets accounts for more than 60%, and the average daily encrypted transaction volume processed has increased from US$100 million in 2020 to more than US$1 billion in 2024, with an average annual growth rate of about 85%. In terms of applications, according to DappRadar data, more than 70% of NFT transactions are completed through mobile wallets, and about 65% of DeFi users rely on mobile wallets for transactions and staking.
Mobile wallets have undergone rapid evolution in the past few years, from simple cryptocurrency storage tools to comprehensive platforms that support DeFi, NFT transactions, cross-chain functions, and other complex functions. As the industrys leading one-stop Web3 portal, Invisible Infrastructure 06 will focus on the OKX Web3 Wallet Mobile Terminal (hereinafter referred to as OKX Web3 Mobile Wallet), and through dialogue, we will deeply explore the OKX Web3 Mobile Wallet teams product construction and cognition, hoping to help users better understand and use mobile wallets.
What user pain points does OKX Web3 mobile wallet solve, what is its product vision and market positioning?
OKX Web3: The OKX Web3 mobile wallet is a multifunctional Web3 wallet that is secure, convenient, and easy to use. It integrates the advantages of wallets, swap transactions, NFT markets, DApp browsers, etc., and can meet various Web3 needs such as user asset security storage, transactions, and on-chain interactions. We are committed to enabling every user to seamlessly enter the decentralized ecosystem of Web3 and experience the infinite possibilities of the encrypted world. Our vision is to become a one-stop solution in the Web3 ecosystem, allowing users to participate in various activities in the decentralized world easily and safely. For example,
1) In terms of security: We use multiple security measures such as multi-signature and hardware wallets to ensure that users crypto assets receive the highest level of protection during storage and transactions.
2) In terms of convenience: users can complete asset management, transactions, NFT purchases and DApp access on one platform of OKX Web3 mobile wallet, without having to frequently switch applications, and enjoy a one-stop convenient experience.
3) In terms of ease of use: Whether you are a beginner or an experienced user, you can easily manage assets, conduct transactions, pledge and other on-chain operations through the intuitive interface and simplified operation process provided by our wallet.
In general, the positioning of OKX Web3 mobile wallet can be summarized by three keywords: Web3 mobile portal, toolbox for Web3 enthusiasts, and one-stop Web3 ecological solution.
First of all, unlike the plug-in wallet that mainly relies on the operation of the PC-side Dashboard, the OKX Web3 mobile wallet is positioned as a mobile Web3 portal, targeting more and more mobile-first users, helping them to conveniently access the Web3 world anytime, anywhere. Secondly, the OKX Web3 mobile wallet is also a toolbox for Web3 enthusiasts. By integrating multiple functions such as asset management, trading, NFT market and DApp browsing, it not only meets the basic encryption storage needs, but also is a full-featured Web3 operating platform that meets users all-round on-chain needs. Finally, we are also positioned as a one-stop Web3 ecological solution, providing users who want to deeply participate in DeFi, NFT and other blockchain activities with a full-chain coverage of multi-functional solutions, reducing the complexity of their operations between multiple platforms and improving operational efficiency and experience.
The latest product news
OKX Web3: In order to further improve the user experience, we have upgraded and iterated multiple business lines of the product, which not only makes the operation process smoother, but also enriches the functions. Here are a few simple examples:
1) UI upgrade: The newly designed product interface provides a smoother user experience. We have greatly simplified the asset management, token exchange and DApp state exploration processes, providing users with a safe and efficient entrance to a diverse on-chain ecosystem.
2) App Connect protocol upgrade: For Telegram Mini Apps that support App Connect, users can directly call up the OKX Web3 mobile wallet to sign and trade, and smoothly complete DApp interactions, providing a more convenient experience.
3) Token Discovery Page Upgrade: Our new token page allows users to explore over 1 million different types of tokens, covering popular Memecoins on networks such as Solana, Base, and BNB, and enables users to quickly find new trading opportunities by supporting customized sorting options. Currently, the DEX aggregator of the OKX Web3 mobile wallet adds approximately 120,000 new tokens per week.
4) Marketplace upgrade: By simplifying the operation experience, users can better discover and easily trade more than 3 million digital collectibles, including emerging assets such as inscriptions and runes in the Bitcoin ecosystem through the OKX Marketplace. The optimized interface can more comprehensively adapt to new and old users.
5) DEX Aggregator Upgrade: Our DEX aggregator provides industry-leading quote response time and transaction speed, retrieving and aggregating quotes from nearly 500 decentralized exchanges with an average response time of approximately 50 milliseconds, providing users with a first-class trading experience.
6) Navigation page upgrade: The new classification structure makes the product experience more intuitive. For example, users can easily access a large number of third-party DApps in the Discover section, which greatly improves the efficiency and convenience of exploration.
Currently, users can update the OKX APP to the latest version to experience the above functions immediately.
How to quickly respond to user needs and market trends and stay ahead in a rapidly changing industry?
OKX Web3: In terms of responding to user needs and market hot spots, we have established an efficient market hot spot response mechanism to ensure that the OKX Web3 mobile wallet can quickly capture and adapt to market dynamics. Whether it is the launch of a new public chain, the rise of DeFi protocols, or the popularity of Meme tokens, the OKX Web3 mobile wallet will quickly integrate these emerging features and services after completing investigations and evaluations. In addition, through close cooperation with popular protocols or early support for emerging chains, we provide users with a diverse and rich Web3 ecosystem to help them easily participate in and experience the latest on-chain innovations at the forefront of the industry.
In addition, in order to stay ahead in a rapidly changing industry, we have done the following: proactively deploy cutting-edge Web3 technologies, promote the coordinated development of multi-chain ecosystems, and collect user feedback through multiple channels.
In terms of forward-looking layout of Web3 cutting-edge technology: We are not only a follower in the market, but also a promoter of innovation. OKX Web3 mobile wallet maintains close communication with the global developer community and establishes in-depth cooperation with cutting-edge DApps and protocols to ensure that we can provide users with cutting-edge functions and rich resources. This close partnership allows us to always maintain our competitiveness and bring users a continuously upgraded experience.
In terms of promoting the coordinated development of multi-chain ecology: OKX Web3 mobile wallet is committed to breaking down the barriers between chains, creating a unified user experience through cross-chain interoperability, liquidity aggregation, developer support, etc., so that users can enjoy a more convenient multi-chain asset management experience. At the same time, it also promotes the common prosperity of each chain ecosystem, enhances the interaction between users and projects, and promotes the overall development of the Web3 ecology.
In terms of collecting user feedback through multiple channels: We attach great importance to user voices, and can quickly collect user needs and suggestions through multiple channels such as built-in feedback systems, social media interactions, and community operations. OKX Web3 mobile wallet is based on user feedback and community-driven development, giving priority to the development of features that are most urgently needed by users, ensuring that we are always at the forefront of meeting user needs and enhancing user participation and satisfaction. Through these measures, OKX Web3 mobile wallet can not only respond quickly to market changes, but also continue to lead industry development through technological innovation, ecological synergy, and user feedback.
What technical measures have been adopted to protect the security of user assets?
OKX Web3: In terms of protecting user assets, we have adopted multi-level technical measures to ensure that users are in a safe environment. Currently, the key protection levels include:
1) Malicious DApp detection. Some DApps may have the risk of phishing or malicious transactions. Users may be induced to sign malicious transactions and suffer asset losses without knowing it. To prevent this, the OKX Web3 mobile wallet has introduced a domain risk detection service. When a user visits a potentially malicious DApp, the system will automatically pop up an alarm window to clearly remind the user of the potential risks of the website, thereby helping the user to avoid possible dangerous operations in a timely manner.
2) Pre-risk interception of pending transactions. OKX Web3 mobile wallet will automatically perform pre-risk detection before the user signs the transaction. If a transaction involves a risky address, Ethsign risk signature, authorized external account (EOA) or zero-dollar purchase, the system will pop up a risk prompt on the signing page to remind the user of the potential security threat. This can effectively prevent users from signing high-risk transactions without knowing it, thereby reducing the possible loss of funds.
3) Risk authorization reminder. If the user has authorized an authorization with potential risks, the OKX Web3 mobile wallet will provide a prominent reminder on the homepage to remind the user of these potential risks. Users can enter the web page according to the prompts to view and manage these authorizations to ensure that their assets are not threatened.
4) Risk filtering in transaction history. The users transaction history may be contaminated by spam airdrops, similar address attacks, etc., which may cause the user to be induced to participate in phishing transactions and cause asset losses. To solve this problem, the OKX Web3 mobile wallet identifies transactions involving these risks and hides risky transactions for users by default, preventing users from accidentally clicking or performing unsafe operations, helping users reduce the risk of being maliciously guided from the root.
We hope that through these technical measures, we can provide users with a safer and more reliable on-chain operating environment and effectively protect the security of users assets.
OKX Web3 Mobile Wallet Future Plan
OKX Web3: In the future, the OKX Web3 mobile wallet will further accelerate technological innovation and product iteration through close cooperation with the global developer community, and continuously promote the upgrade of wallet functions. Through these innovations, we are committed to simplifying cumbersome blockchain operations, reducing the learning threshold and risk of misoperation for users, helping new users get started quickly, and allowing every user to efficiently and conveniently use the powerful functions of the wallet.
In addition, the OKX Web3 mobile wallet aims to provide users with a one-stop Web3 portal. By aggregating multiple channels and rich display forms, it provides users with instant and accurate Web3 industry information and creates a comprehensive Web3 ecosystem portal. Users can not only easily discover the latest projects and industry trends, but also gain an in-depth understanding of the cutting-edge trends in the blockchain ecosystem. In general, we are committed to building a comprehensive Web3 ecosystem platform, making the OKX Web3 mobile wallet the preferred platform for users to explore and participate in the Web3 world.
How to view the development trend of crypto wallets
OKX Web3: It is often mentioned that the Web3 world does not have super applications like WeChat and Alipay in Web2, but in fact, multiple projects are moving in this direction, gradually integrating various functions so that users can participate in all aspects of the Web3 ecosystem through one platform. Although the decentralized nature of Web3 makes it difficult for a single super application to completely replicate the Web2 model, some platforms are exploring this concept and gradually forming the prototype of a Web3 version of a super application by aggregating multiple services and tools.
Among them, encrypted mobile wallets have the potential to become Web3 super applications. The core reason is that as the key entrance to the decentralized world, it has realized multiple core functions such as one-stop solutions, mobile experience anytime, anywhere, multi-chain support and cross-chain interoperability, DeFi core hub, etc., which can meet the extensive needs of users in the Web3 ecosystem. This all-round functional integration and convenience give it great potential to become a Web3 super application.
With the continuous innovation of technology and the expansion of daily applications, mobile wallets will become simpler and more practical, driving the user base to new heights.
Learn more about OKX Web3 invisible infrastructure
To learn more about the invisible infrastructure of OKX Web3 wallet, click here:
2. Invisible Infrastructure Issue 02｜Dialogue with OKX Web3 Team: Why Build APIs?
5. Invisible Infrastructure 05｜Dialogue with OKX Web3: The Three Core Advantages of Plugin Wallet
Disclaimer
This content is for reference only and does not constitute and should not be considered as (i) investment advice or recommendation, (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, may depreciate in value, 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 professional for your specific situation. Not all products are available in all regions. For more details, please refer to the OKX Terms of Service and Risk Disclosure Disclaimer. OKX Web3 Mobile Wallet and its derivative services are subject to separate terms of service. Please be responsible for understanding and complying with local applicable laws and regulations.
