What is WCT currency?
It is the main currency of the WalletConnect network and operates on several key axes of the network, the most notable of which are:
Transaction Fees: The team has proposed the idea of using the currency for transaction fees for services used on the network, but this has not yet been implemented and will be studied by governance.
Rewards: The currency is used to reward and incentivize participants in the network who maintain security.
Staking: Currency holders can stake their coins to earn staking rewards and participate in governance.
Governance: Currency holders can vote on governance decisions and determine the future of the project.
What is the WalletConnect project?
It is an infrastructure network aimed at facilitating the connection of digital currency wallets to blockchain applications.
Initially, it is certain that you have used or benefited from the WalletConnect project in the past, as the project has been in the market since 2018. During its operation, it has helped simplify the use of blockchain for many people through mobile applications, whereas the use of blockchain applications before that was limited to traditional computers.
Since 2018, the project has continued as one of the main pillars of the infrastructure for blockchain applications, integrating with more than 600 different wallets and being used on over 60,000 different blockchain applications. Additionally, it has facilitated more than a quarter of a million wallet connections with ease and smoothness.