Why Use Lumx Protocol

“Blockchain is a complex technology that requires a high level of technical expertise to implement and maintain. Tech challenges may hinder the widespread adoption of blockchain technology and discourage potential users and developers from engaging with it. Blockchain’s complexity can also lead to errors and inefficiencies in implementation.”, Forbes.com

On October 31st, 2008, almost 15 years ago, a mysterious individual (or a group of individuals) known as Satoshi Nakamoto released the Bitcoin Whitepaper and the blockchain technology has flourished ever since, but yet it still battles to reach mass adoption, and the main barrier in its way is nothing more than complexity.

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The regular journey AKA Your worst nightmare

Let’s take a look at a regular user’s journey when first interacting with the technology while attempting to buy a token:

1. Choose your Wallet: Research different Web3 wallets, such as MetaMask, Trust Wallet, Coinbase Wallet or any of the other 30 possible options and remember to verify if it supports the major blockchains.

2. Install the Wallet: Download and install the chosen Web3 wallet, follow the on-screen instructions to set up the wallet. Make sure not to lose your seed phrase, you can’t restore it.

These steps alone will take at least 10 minutes for a tech-savvy user. Imagine if you could solve it with just a few clicks while letting all kinds of users connect via e-mail, Google or any Web3 Wallet.

3. Fund the Wallet: To purchase your tokens you’ll need to fund your Web3 wallet with cryptocurrency. You can buy crypto from various exchanges, in which case you will need to set up a new account, go through their KYC, and then transfer the funds to your wallet.

4. Connect to a Website: Go to the selected website where the token is available and look for the “Connect Wallet” button. This will prompt you to select your Web3 wallet from the available options. Make sure you are on the correct network.

5. Confirm the Transaction: After clicking on “Buy” your web3 wallet will prompt you to confirm the transaction. Review the details, such as the total cost and gas fees, and approve the transaction.

If your user hasn’t given up while creating the account on the exchange, the extra taxes that showed up during the last step might make them rethink the purchase. Imagine if you could avoid all that hassle, paying with Credit Card or PIX (Only in Brazil), without leaving your website and no unexpected fees.

6. Wait for Confirmation: Once you confirm the transaction, it will be broadcasted to the blockchain. You’ll need to wait for the transaction to be mined and confirmed, which can take a few minutes depending on network congestion. Usually it goes through without problems. Wait, what? “Usually”? Yep. Your transaction might fail. It doesn’t happen frequently but it does happen sometimes, but let’s be optmistic shall we? Your transaction went through. You’re now a proud owner of a token!

What if you could remove that risk altogether? Imagine you could see up a queue and never lose a transaction again.

7. Claim the Rewards: If you need to claim any benefits attached to this token you’ll have to get in contact with the team behind the collection, maybe they use Discord, Telegram, or even Twitter, you’ll somehow have to figure it out, then get all the next steps through the community.

Not having the next steps clear can be bother. Imagine if your users could claim their reward in your own website.

Finally…Welcome to the blockchain ecosystem!

Sarcasm put aside, if you’ve read this far you can understand how this isn’t even remotely close to an ideal user experience.

We have been through that. Lumx Protocol was created to solve these problems and to help developers create their own user-friendly Web3 platforms.

Let’s build the Web3, easier, faster and best of all, together 🚀