WalletConnect is an open-source protocol that allows cryptocurrency wallets to securely connect to decentralized applications (dApps). It acts as a bridge connecting your wallet with dApps without the need to share private keys, enhancing security and user experience.
Benefits of WalletConnect:
- Interoperability: Supports various wallets and dApps, allowing users to interact with the vast web3 ecosystem.
- Security: Eliminates the need to share private keys, reducing the risk of information leakage.
- Ease of Use: Simplifies the process of connecting wallets to dApps.
- Multi-chain: Supports various blockchain networks, enabling interaction across different ecosystems.
WalletConnect has a utility token called WCT that is used for governance, staking, and rewards for node operators.
