Coinbry

  • Market Cap: $2,685,075,828,997.92
  • 24h Vol: $86,302,810,858.22
  • BTC Dominance: 50.20%
ConsenSys executive predicts a billion users from Asia will migrate to Web3 due to account abstraction

ConsenSys executive predicts a billion users from Asia will migrate to Web3 due to account abstraction

Laura Shi, the director of strategic initiatives at ConsenSys, believes that Ethereum adoption in Asia will be boosted by the introduction of “smart accounts,” Web3 gaming, and zkEVM scaling and security. She notes that the Ethereum and Web3 ecosystem has seen significant growth in Asia, with more DApps improving user experience for the Asian market. The introduction of zero-knowledge Ethereum Virtual Machine (zkEVM) rollups and the mass adoption of Optimistic Rollups have been driving this expansion. Shi also highlights the development of account abstraction, which offers greater programmable functionality and “bank-like” features, as a factor that will increase adoption in the region. She believes that account abstraction will facilitate the onboarding of a billion-level users in Asia to Web3. Additionally, Shi mentions that social and Web3 gaming in South Korea and China are driving mass adoption in Asia, relying on zkEVM rollups and account abstraction development. She does not see any direct correlation between the regulatory dynamics in the United States and the growth of the Ethereum and Web3 ecosystem in Asia.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.