Walletconnect update
The WalletConnect protocol has transitioned from its initial v1.0 version to v2.0, which is now the standard for new integrations. WalletConnect v1.0 was officially shut down on June 28, 2023, marking the end of an era and the beginning of a new foundation built on v2.0. This migration was necessary because v1.0 was not horizontally scalable and was considered unreliable to maintain.
WalletConnect v2.0 introduces significant improvements over its predecessor, including faster and more reliable transactions through a redesigned, regionalized backend that rebroadcasts messages if they are lost. It enables users to connect to and transact on multiple blockchains simultaneously, a major enhancement for user experience. The protocol also features 1-action Sign-in with Ethereum (SIWE), which combines the "Connect" and "Sign" flows into a single step, and implements session expiry timestamps (defaulting to 7 days) for better security and control. The v2.0 architecture also includes JSON-RPC permissions to resolve compatibility issues between dApps and wallets by describing required API methods before a connection is established.
The core technology for v2.0 is provided by the @WalletConnect /core package, which is actively maintained and updated; the latest version as of April 15, 2025, is 2.21.4. For developers, the recommended tooling is the Web3Wallet SDK, which facilitates integration with the v2.0 protocol. The ecosystem has also seen the introduction of new features like WalletGuide and the WalletConnect Certified program, which aims to set a new standard for onchain wallets.
The WalletConnect Network is also evolving towards decentralization, with plans to implement a decentralized network structure in the future. The network's governance and fee features, which are expected to be unlocked in the near-term, will allow WCT token holders to vote on proposals and changes, giving the community control over the network's development. The live price of the WalletConnect Token (WCT) is $0.2889 USD, with a 24-hour trading volume of $33,792,381 USD, a market cap of $53,787,797 USD, and a circulating supply of 186,200,000 WCT coins.