When using Web2, we rely on browsers to access the internet and use WeChat for social connections; the entry point is clear. However, in Web3, "how to smoothly access on-chain applications" has become a new issue—wallet connections and identity logins have become a new battleground. Whoever can master this first step will hold the key ticket to the industry. Players like WalletConnect, Web3Auth, and AA wallets are fiercely competing in this battleground.
First, let's talk about the current "big brother" WalletConnect. When you connect to Uniswap using MetaMask or play games on Solana with Phantom, it is likely that it is acting as a bridge. By 2025, it will have supported over 600 wallets, 66,500 DApps, and has connected more than 309 million times, with over 47.5 million users—this scale naturally gives it a network effect that "everyone recognizes." More importantly, it does not discriminate against chains; it can connect to EVM, Solana, and Cosmos ecosystems. Transaction information is also encrypted, so intermediate nodes cannot see it; combined with the staking and governance mechanisms of the WCT token, it has become the "de facto standard" for connection layers.
But competitors are not resting. For example, Web3Auth follows a 'user-friendly' approach: there is no need to remember annoying mnemonic phrases; you can generate an on-chain account using a Google or Discord account, making it as simple as using a Web2 app. This method can indeed attract many new users, but the drawbacks are also evident—core nodes rely on hosting, which is not as decentralized, and compatibility with native wallets is average, leading to lower user stickiness. It and WalletConnect are somewhat like 'dislocated competition': one attracts new users, while the other serves old players, but they still need to compete on 'who gets users into DApps first.'
Then there’s Particle Network, which has even greater ambitions. It not only wants to be a 'connection tool' but also aims to take care of identity verification and transaction signing, providing developers with a 'full-stack package'—allowing everything to be managed with a single SDK without the need to piece together multiple modules. This saves developers a lot of trouble, but it also increases dependency: if Particle encounters problems, DApps relying on it may have to stop. Moreover, its ecosystem scale is still far behind WalletConnect, making it difficult to shake the latter's position in the short term.
The most noteworthy is still the AA wallet (account abstraction). This smart contract wallet can automatically pay Gas, batch sign transactions, and even bypass the need for an additional connection layer, theoretically allowing it to circumvent WalletConnect. However, it is still in its early stages, many DApps are not compatible, and old users find it troublesome to switch wallets. Therefore, in the short term, the AA wallet is not an 'enemy'; instead, it may need WalletConnect as a 'bridge'—after all, there are still a large number of traditional wallet users who rely on it to connect to the AA ecosystem.
From this perspective, WalletConnect's advantages are actually quite solid: over 300 million connections and more than 60,000 DApps make it the 'most difficult intermediate layer to replace'; moreover, it is not tied to specific wallets or chains, allowing developers to use it with confidence; the WCT economic model can also incentivize nodes and the community, providing long-term motivation. However, risks cannot be ignored: if no one participates in WCT voting, the community will lack vitality; if the relay service charges are too high, developers may flee; coupled with Web3Auth competing for new users and the gradual popularization of the AA wallet, the edge market may be siphoned off.
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