Top Web3 Wallet Development Trends to Watch Out for in 2023

The new year is just around the corner and brings new online opportunities and experiences. As per statistics, it is predicted that the Web3 market is expected to reach USD 82,898.1 Million by 2030. Web3 is at its early stages and has given an impression of the technology evolution in the future.

The popularity of Web3 wallets is surging at a rapid pace and is coming up with something new year by year.It is vital to stay up to date with these trends.

This blog highlights Web3 wallet trend predictions and features you must include in 2023:

What is Web3?

Web3 is the third iterative version of the internet in which the control is given to the users. The main aim is to enable speedier transactions and offer an exhilarating experience to the users. The technology is an amalgamation of the semantic web, artificial intelligence, and machine learning, so the information which stores the information securely and safely. The wallet adopts a blockchain security mechanism, thereby preventing hacks or breaches on the platform.

What are Web3 Wallets?

Web3 wallets are the safe space where users can keep their cryptos, NFTs, and other digital assets. The significant feature of the wallet is the user-friendly interface with which users can interact and connect with decentralised applications(dApps) on Blockchain. These are way different from ordinary wallets and are developed with the assistance of Web3 wallet development experts.

Salient Features of Web3 Wallets

Let us look at the main features of the Web3 wallet:

• Open

It is open in a way that the wallet was developed using open-source software by the web3 wallet developers that were public and worked in the open.

• Trustless

The users can access the network openly and privately, and it is devoid of any third-party intervention, which makes it trustworthy.

• Permissionless

It gives users and providers participation opportunities without authorization from the controlling authority.

• Ubiquitous

The Ubiquitous feature helps users access the internet from anywhere. Internet-connected gadgets will be provided for computers and cell phones, just like web2.0.

• Decentralization

Decentralization has brought a paradigm shift in the process of online data storage. As a result, similar blockchain information can be transmitted to various blockchain sites simultaneously.

Web3 Wallet Development Trends that Will be a Hit in 2023

Below is the complete list of Web3 wallet development trends that are going to be a hit in the upcoming year:

#Trend 1 : Privacy Data Protection

One of the significant features of Web3 is that it offers data ownership and privacy to the users. In the past, all the data was stored centralized and managed by large technology companies like Google, Facebook, and Amazon. However, since keeping the data private is becoming the priority of users, web3 wallet development companies will be introducing wallet solutions that help users control their data better.

#Trend 2 : Offering Enhanced User Experience

The main goal of developing a wallet solution is to enhance the user experience. While developing web3 wallets, the main emphasis would be laid on integrating stunning designs to simplify the navigation process. Even the currency transfer process will be as simple as in the case of online banking and Paypal.

#Trend 3 : Interactive 3D Web Technology

The next generation internet will come up with a 3D design that aims to leave an impression on the users. To implement this, the companies are going one step further and will implement these elements in the areas like eCommerce, computer games, online directories, guides, and improve the geospatial context.

Better enhancement offers better interaction capabilities to the businesses and the users enabling virtual identity and interactions within the Web3 ecosystems. A lot of progress has been observed in the segment, and exciting additions will be introduced in the future.

#Trend 4 : Introducing Artificial Intelligence

Artificial Intelligence (AI), Machine Learning (ML), and Artificial Neural Networks (ANN) will be integral components of the Web3 segment. These technologies have been included in search engines, translators, recommendation systems, image recognition solutions, business process automation, etc. In the future, AI will become more pervasive and will be introduced in wallets by web3 wallet development companies.

#Trend 5 : Software with Low Code Application

A drag-and-drop method, also known as the low code development method, will be introduced. With this method, the firm will be able to develop applications quickly, and the coding effort will be reduced to a great extent. With the introduction of Web3, the concept of no-code or low code will grow.

Apart from this, the following things will be included during cryptocurrency wallet development:

1. A low-code service platform used to launch smart contracts and decentralized applications will be deployed on EVM-compatible applications.

2. A low code solution will be devised for NFTs in which artists and other creative individuals can mint their NFT assets and operate their smart contracts and web3 applications.

3. A toolkit to develop Web3 solutions using modules and coding to be performed in Web3. The application can be used to launch simple Web3 solutions.

Increasing Number of Mobile Wallet Users

Did you know that, at present, there are 2.5 Million wallets that are active daily? Also, the mobile wallet market will surge from $1043 Billion to $7580.1 Billion in 2027. The increased use of mobile app development technology will lead to a surge in Web3 wallet users in the years to come.

Web3 offers the best of technology and innovation. By eliminating cybersecurity concerns, a safe and inclusive online experience will be delivered to Web3 wallet users. A lot of work has already been done, and we are just waiting for its practical implementation. However, the day isn’t far when it will transform the future of technology and the internet.

Get a Competitive Edge by Introducing Web3 Trends with Antier

Antier is a leading Web3 wallet development agency. We have been delivering world-class Web3 wallet solutions for almost a decade. Our experts have sound domain knowledge and technical expertise that we implement while developing wallet solutions for your business. Get the best of quality and timely services and schedule a demo with our subject matter experts today!