Attempting to make a simple transaction using cryptocurrency today can be quite a challenge. Users often find themselves navigating complex wallet extensions, deciphering lengthy hexadecimal addresses, selecting appropriate networks, and signing transactions, all while grappling with unpredictable gas fees. This process can become even more frustrating when transactions fail or become stuck, necessitating repeated attempts. Additionally, users may need to bridge assets across different blockchain networks, making the experience feel daunting and accessible only to those with technical expertise. In contrast, traditional financial services like Apple Pay allow for seamless transactions with just a single tap, highlighting the disparity in user experience between the two sectors.
To simplify the user experience, a shift towards intent-based architecture is proposed, which fundamentally changes the way users interact with crypto. Instead of requiring users to understand the mechanics of various processes like swaps and bridges, this new approach allows individuals to simply express their desires, such as “I want to pay $5 for this coffee.” The system then handles the complexities behind the scenes. The concept of “intents” encompasses a wide range of outcome-driven interactions in the crypto space, providing a foundational structure aimed at making all user actions more straightforward.
Behind the scenes, these intents are executed through a high-speed, trust-minimized infrastructure where trades are carried out by designated parties, often market makers, rather than relying on traditional solver networks. Users initiate requests based on their desired outcomes, while the back-end system manages routing, execution, and settlement without exposing users to wallet complexities, gas fees, or blockchain intricacies. This results in a smooth, intent-driven user experience that obscures underlying infrastructure while maintaining the essential guarantees of decentralization, transforming crypto from being action-driven to outcome-focused.
The conventional wallet-centric model has long dictated how users engage with cryptocurrency, creating limitations in usability. A new approach is emerging that eliminates the reliance on wallets altogether. Systems based on passkeys enable users to authenticate using familiar methods like Face ID or Touch ID, removing the need for seed phrases, private key management, and passwords. This intent-based method is also chain-agnostic, allowing users to conduct transactions without needing to be onboarded to a specific blockchain. Sharing crypto can become as easy as sending a signed link, requiring no app installations or wallet setups. This user-friendly interaction is crucial for encouraging widespread adoption of cryptocurrency.
Centralized exchanges, like Binance, have gained significant market share by prioritizing user experience. The new intent-based infrastructure aims to replicate this familiar flow of deposit, trading, and withdrawal while ensuring comparable settlement speeds, albeit with key differences. Smart contracts function as both custody and settlement layers, securely maintaining on-chain records of user balances and providing public proof-of-reserves. The ultra-low fees of scalable blockchains make decentralized trading feasible for the first time, and this architecture is not limited to traders. It is designed to offer Web2-style payment systems backed by scalable, sharded on-chain infrastructure for various applications, from DeFi swaps to booking travel.
In this new paradigm, where intents serve as the execution layer, AI assistants are poised to become the new interface. Imagine instructing your assistant to “Send $50 in BTC to my brother,” or “Stake my SOL for the best yield.” Users no longer need to manage wallets, sign transactions, or worry about miner extractable value (MEV); instead, they simply express their intentions. The assistant interprets the request, while the solver network fulfills it through intents, resulting in a frictionless experience. The combination of AI and intents redefines the user experience in crypto, aiming to match and even surpass the sophistication of traditional financial systems while upholding the principles of decentralization.
Intents are especially essential as our economy shifts towards one driven by AI agents and microtransactions. The current landscape shows a preference for subscription-based services over microtransaction models, primarily because authorizing payments can be cumbersome. As AI agents become more prevalent, they will optimize for price and fees, making it easier to adopt microtransaction services. This is a pivotal moment for blockchain technology, as traditional payment systems like Visa and Mastercard are not designed for high-volume and conditional microtransactions. Intents will pave the way for enhanced financial interactions, including direct payments, escrow agreements, streamed payments, currency exchanges, and more.
While payments are an obvious initial application, the utility of intents extends far beyond retail transactions. They simplify the complexities involved in various multi-step processes such as executing multi-hop swaps across chains, managing cross-chain asset portfolios, placing gas-efficient limit orders in DeFi, and automating yield strategies based on dynamic conditions. This infrastructure is aimed at the next generation of crypto applications, targeting not just seasoned users, but a broader audience.
The convoluted user experience in crypto has long been a significant barrier to entry. The introduction of intents signifies a crucial turning point in the evolution of the industry, shifting the focus from protocol-centric designs to user interfaces that cater to user intent. These intents are not only outcome-oriented and intuitive, but they also align with the way users wish to transact, especially in an increasingly AI-driven future. The true triumph of blockchain technology will not be marked by users’ understanding of its inner workings, but rather by their ability to utilize it seamlessly without even realizing it.
