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What Is WalletConnect (WCT)? Exploring This Cross-Chain Connectivity Protocol

Apr 24, 2025

Beginner

Web3

DeFi



WalletConnect (WCT) is a decentralized cross-chain protocol designed to provide secure and convenient connectivity between crypto wallets and decentralized applications (dApps). It enables users to connect their wallets to dApps via QR code scanning or deep linking without exposing private keys. Launched in 2018, WalletConnect now supports over 300 blockchains and 600+ wallets. Its native token, WCT, became fully transferable in April 2025 and is used for staking, governance, and incentivizing network participants.

How WalletConnect Works

WalletConnect operates as a decentralized network with service and gateway nodes that facilitate encrypted message transfers between wallets and dApps. Users establish connections by scanning a QR code or clicking a deep link through WalletConnect’s SDK, with all communications secured by end-to-end encryption. The WCT token serves multiple roles: users can stake WCT to participate in governance, node operators earn rewards through staking, and future network service fees may be paid in WCT. The protocol runs on Optimism’s OP Mainnet, leveraging Ethereum’s security and fast transactions.