I know many people definitely don't have time to listen, so I've整理了 the core content from this AMA on the BN Wallet web version, from the product's original intention to functional planning, security protection, and industry insights, providing detailed answers. Here's a summary of the key points, let's take a look together:
1: The original intention of launching the Binance Wallet web version
The launch of the BN Wallet (@BinanceWallet) web version is actually to complete the last piece of the on-chain experience puzzle for the hundreds of millions of users of @binancezh, hoping to allow everyone to access high-quality early assets, accurate information, and reliable on-chain apps in one stop.
However, mobile apps have their limitations, with small screens, limited information capacity, and user experience constraints. Moreover, they have already attracted many professional users who have higher demands for trading analysis and operational experience.
Therefore, the web version launched this time is positioned as a 'pure on-chain trading terminal,' prioritizing efforts on refining trading analysis features and optimizing the trading experience.
Additionally, the plugin wallet will be available next month (finally coming after much anticipation). By then, the three products—app, web version, and plugin—will form a complete layout, covering user needs comprehensively from spot trading to on-chain operations, truly achieving an experiential closed loop.
2: Core advantages of the Binance Wallet
1. Ultimate trading experience
The web version supports 'no signature' functionality, with trading speeds as fast as 800 milliseconds, which is leading in the industry. The success rate of transactions has also significantly improved, especially on the Solana and BSC chains, achieving an extreme effect at this stage.
It's important to know that traditional wallets take 5-10 seconds for each operation signature, and if one is not careful, they might miss a good opportunity. Our no-signature feature can help users 'grab time' at critical moments, firmly seizing fleeting opportunities.
2. SAS mechanism ensures security
Some may worry that no signature might compromise security. In fact, there's no need to be afraid; behind this is the SAS (Secure Automatic Signature) technology safeguarding it:
1) Environmental security: Private keys are stored in a hardware-isolated environment in fragments, so even if BN encounters a hacker attack, the private keys can remain safe.
2) Private key security: Private keys only exist in memory and are immediately deleted after signing, leaving no traces.
3) User authentication: When enabling SCS services or conducting transactions, facial recognition confirmation is needed on the mobile end to ensure it is the user themselves operating.
4) Strict risk control: Sessions can only last a maximum of 7 days and only support specific transaction types, such as designated swaps and authorized addresses, building a solid security defense from multiple aspects.
3. The future of CEX and DEX: Long-term integration, mid-term coexistence
In the long run, the industry will develop towards decentralization (DEX).
However, in the mid-term, CEX and DEX will coexist because there are still many users, such as those unfamiliar with on-chain operations in South America and Africa, who still rely on the brand trust and services provided by CEX.
As on-chain opportunities increase, the needs of both types of users must be addressed.
The BN wallet has already implemented the functionality of 'direct on-chain trading with exchange balances,' allowing users to trade without first purchasing Gas or moving coins on-chain, greatly simplifying the operational process, which is a reflection of the integration of CEX and DEX.
4. User risk warnings and BN's protective measures
On-chain trading carries some common risks, such as lost or stolen private keys, vulnerabilities in smart contracts, insidious social engineering attacks, and user operational errors.
To address these risks, BN has adopted corresponding measures: using MPC wallets, fragmenting the storage of private keys so users can fully control their usage rights;
combined with the web-based SCS signature and TE environment, reducing the cost for users to manage private keys. Additionally, through user education and product design, we help novice users transition to on-chain trading more smoothly.
5. Future functional planning for the Binance Wallet: Focusing on 'time-saving' and 'profit opportunities'
1. Upgrading the trading experience
We will gradually enhance the trading experience, successively supporting market orders, take-profit and stop-loss, copy trading strategies, among which on-chain address copy trading will be prioritized, while contract copy trading will follow a bit later. We will also introduce signal trading features and even link with main site data.
2. Optimizing trading analysis
In terms of basic functionality, the 'Top Traders List' (i.e., Smart Money Leaderboard) and holders tags will go live in early September.
With AI assistance, we will quickly analyze token trends using our self-developed small model, just like the AI narrative on the Min Rush page, displaying token information within 2 seconds and saving users several seconds of search time.
In the future, we will also launch features for one-click analysis of chip structure and filtering quality addresses, with the core goal of saving users 5-10 times the decision-making time.
3. Major announcements for September
In September, we will launch 2-3 particularly powerful features that will surely make users feel 'must trade on the BN Wallet web version.' However, what they are will be kept confidential for now; these features are likely to be benefits or tools that can increase everyone's chances of making money.
4. Other pending supported features
1) NFTs and DeFi protocols: Currently, the team has limited manpower and will prioritize support step by step. The DeFi protocols require a lot of tedious foundational work due to different events in each contract.
2) Membership/identity systems: We have plans in this area, providing corresponding benefits based on users' transaction volumes and activity levels.
3) Privacy protection: Users' data privacy will be guaranteed, while transfer privacy will need suitable solutions under compliance.
4) Payment scenarios: We are considering expanding into offline transaction scenarios like hotel booking and ticket purchasing, but we will weigh compliance and user safety issues, and proceed cautiously.
6. Answers to questions of concern from guests and listeners
Regarding privacy protection, everyone doesn't need to worry about data privacy. However, due to compliance limitations, we currently cannot support transfer privacy. We will explore more suitable compromise solutions later.
Many people have asked about the support for NFT and DeFi protocols. We will definitely do this, but for now, we will prioritize meeting the more urgent trading needs.
As for the cost issue of AI features, most functionalities are free; for example, the AI narrative on Min Rush is free, while some advanced features may be prioritized for high-frequency users, as these features perform better within a smaller user group.
So, what are the advantages of the browser wallet?
Firstly, both trading experience and security are at the top level. AI-assisted features can save everyone a lot of time, and there is also the support of BN's liquidity and data foundation.
Regarding authorization information, we will also optimize it. The English or code strings that everyone sees now will be made more understandable through automatic translation and text formatting.
Finally, we welcome everyone to pay attention to the BN Wallet web version. Whether you want to experience the 'no signature' ultra-fast trading or anticipate the powerful features in September, you can keep an eye on the official updates from @binancezh and @BinanceWallet!
The product is still rapidly iterating, and every piece of feedback from everyone will directly impact the priority of feature development. If you're interested, feel free to come experience it more and provide suggestions to Binance; building together is the best approach!
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