O3 Labs, a Neo development team best known for its wallet, recently participated in an ask me anything (AMA) on Holdex, a community-driven marketplace that allows its users to discover blockchain-based applications. In the AMA, a handful of O3 Labs representatives discussed new features in the upcoming O3 Wallet, interoperability across blockchain platforms, and product-market relevance.
A transcript of pertinent questions from the interview can be found below:
Alexander DiGirolamo (O3 Lead Business Developer): Hello all, My name is Alexander, and I represent O3 Wallet and the O3 Labs team. Looking forward to getting started and chatting with as many of you as possible. I have some colleagues here as well. Sophy, Caroline, Laurel, will also be jumping around. Thank you all for participating. Let’s begin!
Q1: What are significant differences between the new O3 Wallet with the previous one? What function added in to make it easier and more user-friendly?
Alexander: Thanks for this question. I will provide a quick list of some of the solutions that we have developed. I will try to focus on the solutions that pertain to improving the user experience, as stated in the inquiry.
Most noticeably (and perhaps most impressively) – is the transformation of the User Interface (UI).
If you place the v1.0 and v2.0 side by side – it’s truly unrecognizable. You can immediately recognize the transformative improvements.
We reevaluated all of the partnerships and third-party integrations that were previously in place. We felt it was best to take a look at all the possible options that exist today, that may not have existed when O3 was developing v1.0. This evaluation and reconsideration process resulted in notable upgrades across the board. A markedly better competitor has since replaced every third-party integration that was previously in place. We had no interest in blindly maintaining the status quo.
We increased asset support. BTC and ETH support is in development.
We improved the swap feature. Now, the minimum swap amount is around US $2, which is the lowest minimum in the industry. Ultra-accessible. Limitless exchanges.
The minimum amounts required for staking has been reduced by an incredible amount. The goal is to reduce barriers and increase accessibility and usability for users from all socioeconomic backgrounds.
Improved internal browser speed. Navigating various dApps is faster than ever.
We have added several dynamic customer service channels to provide far more responsive assistance to our users. No longer will anyone have to send an email to support only to painfully wait for 24 hours or longer for a response. Instead, If there is a concern or question – Join our official o3 Telegram Community (https://t.me/03wallet), and someone will be able to assist you in a matter of seconds, not hours or days. Much improved User Experience in that regard.
Q2: The most significant need for wallets is interoperability, providing cross-chain interactions and multiple blockchains. How does the O3 Wallet achieve this? Do you have a plan to develop it yet?
Laurel Jia (O3 community manager): Very good question! Of course, we are working on the more user-friendly wallet, and you’ll see more efficient functions and the cleaner interface on brand new O3. What you are asking is what we are doing actually.
The new version of the O3 Wallet will support BTC, ETH, NEO, GAS, and ONT. In later releases, we will also include support for non-fungible tokens (NFT), decentralized finance (DeFi), and a hardware wallet.
Q3: The Poly Network was recently announced, which allows interoperability between Neo, Ontology, Bitcoin, Ethereum, and Cosmos blockchains. Will this allow O3 Labs to add more coins and possibly build the platform out with further functionality. Do you see this as an area to grow?
Alexander: I can’t comment on the Poly Network, but cross-chain functionality and network interoperability are among our top priorities at O3.
We aim to launch the world’s first cross-chain wallet with support for NEO/ETH/BTC/ONT and more.
So yes, our team is actively working to develop these protocols and solutions. We couldn’t agree more. Certainly, we recognize the immense opportunity there.
Obviously, we welcome the development as a consequential achievement for the industry.
Q4: Can you explain what features are in the O3 Wallet? How can the O3 Wallet be better than the existing wallets?
Alexander: New features of the O3 Wallet will include an improved fiat on-ramp. Users will be able to purchase crypto directly in the app using Visa, Mastercard, and ApplePay.
Improved Swap feature Exchange crypto-to-crypto with industry-low minimum requirements to exchange. No maximum caps. No invasive identity requests.
Addition of dynamic customer support channels to assist and instruct users of proper functionality and troubleshooting.
Sophy (O3 community manager): In the O3 Wallet, users can get the latest crypto news, so they’re always up to date with the ecosystem and latest projects. Moreover, O3 with full integration with Switcheo’s non-custodial exchange trading API, where users can trade easier and safer with their favorite tokens. Moving forward, we will enhance the user experience by adding new functions such as NFT, DeFi, and hardware wallet while phasing out features that aren’t popular with our users.
The O3 Wallet is the #1 Neo wallet in the ecosystem, with thousands of active users located around the globe. O3 is not only a wallet but also your gateway to the smart economy. O3 manages your assets in a simple, user-friendly interface that supports multiple wallets in one place. It allows users to connect with awesome apps and dApps without having to share sensitive data, like your private keys, with third parties.
Q5: Technology is increasingly evolving, does the O3 Wallet ensure that we are always at the forefront in pioneering updating new technologies? What are the current difficulties?
Alex: Great Question. That is perhaps the most significant challenge for me personally. I am sure others as well. The technology is evolving, changing, improving, at such a dizzying pace that maintaining a comprehensive understanding of the broader blockchain ecosystem – including – the technology, the global market, emerging trends, consumer behavior, cross-jurisdictional regulatory compliance. It requires, basically, a lifetime commitment.
To overcome those challenges and best position ourselves as innovators, we have assembled what I would describe as a ‘hand-selected’ team of professionals from various regions around the globe. A diverse team, vastly different talents, but that ironically shares an unwavering commitment and dedication. We are committed to transforming O3 into an industry leader. Also, we have some of the most accomplished and talented developers on our team. That is, without question, our greatest asset.
The full AMA can be found at the link below: