$WCT fundamental and technical analysis PART-2

Adoption and Growth:

WalletConnect has facilitated over 185 million on-chain connections for 30 million users across 50,000+ DApps, demonstrating significant adoption.

The WalletConnect Foundation raised $10 million through token sales to expand operations and support ecosystem initiatives.

The protocol’s mobile-first approach and compatibility with wallets like MetaMask and Trust Wallet enhance its accessibility.

Strategic Partnerships:

The WalletConnect Network is supported by contributors like the WalletConnect Foundation, Reown, Consensys, Kiln, Ledger, and others, ensuring robust infrastructure.

Integration with Binance Launchpool underscores its credibility and market reach.

Technical Details of WalletConnect (WCT)

Blockchain and Protocol:

Network: WCT is an ERC-20 token launched on Optimism’s OP Mainnet, leveraging Ethereum’s security and Optimism’s scalability for fast, low-cost transactions.

Protocol: WalletConnect is a cross-chain protocol that uses SDKs (Software Development Kits) to enable seamless wallet-DApp interactions without exposing private keys or relying on browser extensions.

Gateway Nodes: These nodes optimize communication between wallets and DApps, reducing latency and enhancing connection speeds.

Decentralization: The network is transitioning to a fully permissionless model to improve resilience and censorship resistance.

Security Features:

WalletConnect establishes encrypted connections via QR codes or deep links, ensuring user control over private keys.

Push notifications alert users to incoming transactions, enhancing security and usability.

The protocol avoids single points of failure, unlike traditional seed-phrase-based wallets.

Interoperability:

Supports multiple blockchains, including Ethereum, Solana, Polkadot, Cosmos, and Bitcoin, making it a versatile Web3 infrastructure layer.

Compatible with over 600 wallets and 40,000 DApps, ensuring broad ecosystem integration.

To be continued ......