January 20th, 2022

For anyone who is just getting started on crypto will be bombarded with too many technical jargons. While techies might be able to figure out what a “mnemonic seed phrase” is, my mum won’t be able to do so. Kudos to apps like Argent and Valora for understanding this and working on a much more understandable onboarding journey (you can argue about their respective centralisation).

Another example that I see frequently is “slippage”. I didn’t know that I had to Google a couple of minutes before I am finally able to use a DEX and understand what slippage means.

And then, there’s “gas fee”. I’m not going to complain about ETH’s gas fee. Enough people have made jokes about it. How could anyone expect a first-time user to understand what a “gas fee” is?

These are just some basic examples. There’s a lot more. The deeper one digs down the crypto rabbit hole, the more you get thrown around with more jargons. I think, going away with these jargons (or) making it easier for non-crypto native users to understand can add a lot of value to the industry as a whole as it can positively impact the overall usage of crypto. And it’s not extremely complex to do so. Here are my two cents on potential solutions: