Source: KiloEx
Gas: The Culprit Hindering On-chain Prosperity
Starting from the DeFi summer, on-chain finance has been developing for four years. However, to this day, centralized exchanges still hold the majority of liquidity and more web3 users. The reasons for this are quite evident: centralized exchanges have some obvious advantages such as simpler operations and very fast transaction processing. In contrast, decentralized exchanges (DEX) turn most web3 users away due to their obscure concepts, complex operations, and numerous steps.
Furthermore, DEX are even more disastrous for new users. For example, almost all web3 new users have the same question: what is gas? Which token should I buy as gas? How much gas specifically needs to be prepared? In fact, these are just the first steps to understand when using a DEX, yet they are enough to intimidate most users and make them hesitant.
Moreover, using a DEX first requires users to learn how to use a wallet and understand how to sign transactions. For some actions, users even need to sign multiple times to complete an operation. Transaction execution time can also become very slow for various reasons. Clearly, these are things we do not want to see.
