In short: @WalletConnect is a tool that helps cryptocurrency wallets and decentralized apps (dApps) connect safely and easily. It started in 2018 and now has millions of users worldwide. Its new network and token, WCT, make it more powerful and community-driven.
1) Why WalletConnect is Important
Before WalletConnect, using a dApp often meant copying private keys or connecting in a complicated way. WalletConnect acts like a universal bridge — it connects your wallet to any dApp securely. You can approve transactions, sign messages, and interact with smart contracts without giving your private keys to anyone. This makes using crypto much safer and easier.
2) WalletConnect by the Numbers
Launched: 2018
Wallets supported: 600+
dApps supported: 65,000+
Connections made: 300+ million
Users: 47.5 million
This shows how widely it is used and trusted in the crypto world.
3) How WalletConnect Works
WalletConnect creates a secure connection between your wallet (mobile or hardware) and a dApp.
Connecting: The dApp shows a QR code or link. You open it in your wallet and approve the connection.
Encrypted communication: All messages are encrypted, so nobody can read your data while it travels between wallet and dApp.
Supports multiple blockchains: It works on Ethereum, Solana, Optimism, and many other blockchains.
Think of it as a secure “tunnel” for your wallet to interact with apps.
4) WalletConnect v2 – What Changed
The new version, v2, made it even better:
Decentralized relays: The network is now run by multiple operators, making it more reliable and safer.
Multi-chain sessions: One session can now work across different blockchains, so you don’t need separate connections for each chain.
Better permission control: You can control exactly what the dApp can do and for how long.
5) WalletConnect Network & WCT Token
WalletConnect now has its own network and token called WCT.
Purpose of WCT:
Staking to secure the network
Voting on network decisions (governance)
Rewarding node operators and community contributors
Chains supported: Optimism and Solana, with plans to expand to more blockchains.
Having a token helps make the network decentralized and community-driven.
6) Who Uses WalletConnect
WalletConnect is widely adopted:
Wallets: More than 600 wallets support it, from popular mobile apps to hardware wallets.
dApps: Tens of thousands of apps across DeFi, NFTs, and crypto games rely on WalletConnect.
Node operators: Professionals run the network relays to keep it fast and reliable.
7) Security and User Experience
End-to-end encryption: Nobody can see your private information while it’s being transmitted.
Session control: You can limit permissions and set expiry for your connections.
Easy to use: Connecting is as simple as scanning a QR code and approving it in your wallet.
Even with all security measures, users must still be careful about what they sign.
8) WCT Token and Governance
WCT token: Used for staking, governance, and rewards.
Governance: Token holders can vote on network decisions.
Incentives: Node operators and contributors are rewarded with WCT.
Check official WalletConnect sources for the latest token numbers and distribution.
9) Strengths and Risks
Strengths:
Works with many wallets and dApps
Secure and encrypted connections
Supports multiple blockchains
Community-driven network with WCT
Risks:
Users must be careful about what they sign
Token governance is still evolving
Decentralized relays need honest operators to keep running smoothly
10) For Developers
Integrate easily: WalletConnect has SDKs and guides for web and mobile apps.
Multi-chain support: v2 allows one session for multiple chains.
Testing: Make sure to test session flows, permission controls, and reconnections.
11) Future of WalletConnect
WCT token will expand to more blockchains
Governance tools will improve for the community
UX improvements will make cross-chain connections even easier
12) Conclusion
WalletConnect makes using crypto simple and safe. Millions of users rely on it to connect wallets and dApps. With its network and WCT token, it’s becoming more decentralized and community-driven. Whether you’re a user or developer, WalletConnect is a key tool in the Web3 world.