The Ethereum ecosystem is constantly evolving, paving the way for innovative technologies and applications. In a recent interview on Episode 39 of Hashing It Out, Harsh Rajat, the founder and project lead of Push Protocol, delves into the future of on-chain chat apps and their significance in the crypto industry. Drawing inspiration from his experience in mobile applications, Rajat emphasizes the need for Web3 communities to transition from Web2 tools and embrace fully on-chain solutions.
According to Rajat, Web3 messaging apps will play a crucial role in driving the next wave of crypto adoption. He highlights the importance of incorporating features found in Web2 applications, such as notifications, into the decentralized applications ecosystem. By addressing user retention concerns and enhancing user experiences, on-chain chat apps can attract a wider user base and propel the adoption of cryptocurrencies.
Rajat praises the Ethereum ecosystem for being a hotbed of innovation within the blockchain space. He mentions the availability of mentorship and support from the community, which fosters a conducive environment for development. Rajat particularly emphasizes the significance of face-to-face access to prominent figures like Vitalik Buterin, the founder of Ethereum. Such interactions enable builders to seek guidance and gain valuable insights, reaffirming the Ethereum ecosystem’s position as a breeding ground for innovation.
In contrast to the prevalent narrative of “Ethereum-killers,” Rajat dismisses the notion of trying to replace Ethereum entirely. He contends that Ethereum has already established a solid foundation, making it impossible to dismantle. Instead, he encourages developers and investors to focus on collaborating with Ethereum and leveraging its strength and vibrant community to drive the industry forward.
Rajat acknowledges the recent surge in multiple layer-2 networks within the Ethereum ecosystem. While he sees the presence of various layer 2s as a positive development, Rajat predicts that only a few will survive in the long run. Some layer 2s will pivot, adapting to changing market needs, while others may merge with or attach themselves to existing layer 2 solutions. This dynamic landscape necessitates a flexible and adaptable approach to ensure the sustainability and growth of the Ethereum ecosystem.
One prominent trend that Rajat discusses is the increasing demand for chat applications built on the Ethereum network. He attributes this demand to the growing need for Web3 solutions and improved user experiences. As the crypto industry continues to evolve, users seek robust communication channels to power their communities and forums. Rajat believes that effective communication is a fundamental prerequisite for Web3 platforms, establishing a strong foundation for the adoption of advanced features and functionalities.
Rajat goes on to explore the potential use cases of wallets as Web3 identities. By leveraging blockchain technology, individuals can manage their digital identities securely while engaging with various decentralized applications seamlessly. Additionally, he highlights the concept of token-gated group chats, where communities require specific tokens to access exclusive chat groups. Token-based mechanisms not only foster a sense of community but also create economic incentives for users to actively participate in the network.
The Ethereum ecosystem continues to be the epicenter of innovation in the blockchain space. As on-chain chat apps gain traction, they will propel the adoption of cryptocurrencies and enhance user experiences. With the support of the vibrant Ethereum community and a focus on collaboration rather than competition, the future of Web3 messaging apps looks promising. By embracing fully on-chain solutions, Web3 communities can thrive and empower users to participate actively in the decentralized revolution.