In the world of blockchain, the wallet is the starting point for every user. Whether it's for transactions, storage, or interacting with decentralized applications, the wallet is the first hurdle. However, the connection between wallets and applications has not been smooth for a long time. Different wallet interface standards are inconsistent, requiring users to switch frequently, and developers must constantly adapt. For ordinary people, this experience is even more complicated than traditional internet.
The emergence of WalletConnect is precisely to solve this problem. It is not just a simple wallet, nor is it just a simple application, but a kind of 'communication protocol.' Its core goal is very clear: to enable any wallet to seamlessly connect to any application.
This may not sound exciting, but in reality, its significance is comparable to the HTTP protocol in the internet. Without HTTP, there would be no web connectivity today; similarly, without a unified standard like WalletConnect, the prosperity of the Web3 ecosystem will always be limited.
The first time I truly realized the value of WalletConnect was when experiencing multi-chain applications. In the past, users had to download multiple wallets and repeatedly import mnemonic phrases to switch back and forth when using applications on different chains, which was very cumbersome. The link provided by WalletConnect only requires a single scan to allow users to directly connect their wallets to applications. This 'smooth feeling' is key to encouraging users to stay long-term.
For developers, WalletConnect has significantly lowered the threshold. In the past, they had to write adaptation logic for each wallet separately, but now by integrating WalletConnect, they can simultaneously be compatible with multiple wallets. This not only saves time and costs but, more importantly, unleashes the creativity of developers, allowing them to focus their energy on innovation in the applications themselves, rather than reinventing the wheel.
This role positioning makes WalletConnect a unique 'infrastructure' in the Web3 ecosystem. It does not directly compete for traffic with users, does not create wallets itself, nor does it create applications, but stands between the two, becoming an indispensable bridge.
More importantly, this bridge effect inherently carries the attributes of a flywheel:
The more wallets there are, the greater the motivation to access WalletConnect, as this allows for immediate support from numerous applications.
The more applications there are, the greater the motivation to access WalletConnect, as it can instantly connect to a large user base.
The bilateral effects of wallets and applications continue to strengthen, driving more newcomers.
As the ecosystem continues to expand, WalletConnect itself also becomes irreplaceable.
This is a typical 'network effect'. Once the network effect reaches a critical point, it will form an almost unshakable industry standard.
Personally, I believe WalletConnect's vision is not just to 'connect wallets and applications', but to become the communication layer for the entire Web3. In the future, as on-chain applications become more complex, users will no longer just initiate a single transaction, but will need to conduct a series of interactions on-chain: lending, staking, cross-chain, DAO governance, NFT trading, social activities... These complex operations all require a unified communication protocol to support them.
In this sense, WalletConnect's role will increasingly resemble that of an 'operating system interface for Web3'. It standardizes interactions between users and applications, hiding the complex underlying logic from the user, thereby making the experience as smooth as Web2.
I often envision a future scenario: a user opens an on-chain game, without having to worry about which wallet they are using, nor needing to import any complex configurations, they just need to click 'connect', and WalletConnect automatically completes all adaptations in the background. This experience will greatly promote the popularization of Web3.
What I look forward to even more is that WalletConnect is not limited to the on-chain financial field. Its communication protocol logic can be extended to almost all on-chain interaction scenarios. From decentralized identity to on-chain messaging, to multi-chain asset management, it may rely on it to achieve unified connectivity.
This potential determines that the flywheel of WalletConnect is not singular, but multi-layered:
It is the bridge between wallets and applications.
It is the link between multi-chain ecosystems.
It is consensus between users and developers.
The logic of the flywheel is very clear: more wallets → more applications → better user experience → developers more willing to build → ecosystem more prosperous → further increase in wallets and applications.
In the long run, this network effect will make WalletConnect the invisible infrastructure of Web3. Just like when we go online today, we don't think about 'who created the HTTP protocol', but without it, the entire internet cannot operate. In the future, when Web3 truly enters the mainstream, people may not talk about WalletConnect every day, but it will be ubiquitous, supporting the operation of the entire ecosystem.
In this process, the way WalletConnect accumulates value is also very unique. It does not rely on a single source of transaction fee income, but instead becomes the industry standard, occupying the strategic high ground of the entire ecosystem. Any application that wants to communicate with users, any wallet that wants to enter the ecosystem, cannot bypass it. This position itself is the greatest value moat.
I firmly believe that the future of Web3 will certainly be a pattern of coexistence of multiple chains, multiple wallets, and multiple applications. In such a pattern, the only thing that can break the fragmentation and achieve interconnectivity is a communication protocol like WalletConnect. And its flywheel has already begun to turn and will only turn faster.
