Key Takeaways
WalletConnect makes it easy to connect crypto wallets to decentralized apps using QR codes or deep links, keeping users in control without exposing private keys or relying on browser extensions.
The protocol supports a wide range of blockchain networks, including Ethereum, Solana, Polkadot, Cosmos, and Bitcoin.
The WalletConnect ecosystem has WCT as its utility token, which can be used for staking, governance, and to receive rewards.
What Is WalletConnect?
Key Takeaways
WalletConnect makes it easy to connect crypto wallets to decentralized apps using QR codes or deep links, keeping users in control without exposing private keys or relying on browser extensions.
The protocol supports a wide range of blockchain networks, including Ethereum, Solana, Polkadot, Cosmos, and Bitcoin.
The WalletConnect ecosystem has WCT as its utility token, which can be used for staking, governance, and to receive rewards.
What Is WalletConnect?
WalletConnect is an open-source protocol that makes it easy for crypto wallets to connect with decentralized apps (DApps). Instead of relying on browser extensions or copy-pasting wallet addresses, WalletConnect lets you link your wallet to a DApp with a quick QR code scan or deep link. WalletConnect works across many blockchains, and aims to make Web3 more user-friendly and secure.
How WalletConnect Works
At its foundation, WalletConnect acts as a communication layer that enables wallet applications to interact with DApps without exposing sensitive information, such as private keys.
The protocol supports encrypted messaging through a session established by scanning a QR code or clicking a deep link. Once connected, users can approve or reject transactions directly from their wallets, which remain in their full control throughout the session.
WalletConnect supports multiple blockchain networks, including Ethereum, Solana, Cosmos, Polkadot, and Bitcoin.
The WCT Token
WalletConnect has its own token called WCT. It is an ERC-20 token with a total supply of 1 billion tokens. WCT was launched on the Optimism network and is used for multiple purposes within the WalletConnect ecosystem:
Staking: Users can stake WCT tokens to help secure the network and earn rewards. Staking durations range from one week to two years, with incentives increasing with the length of the commitment.
WCT is an ERC-20 token with a total supply of 1 billion tokens.