What is WalletConnect
WalletConnect is an open-source protocol used to establish a secure connection between decentralized applications (DApps) and cryptocurrency wallets, enabling cross-device communication.
It allows users to connect and sign transactions with desktop or web DApps through a mobile wallet (such as MetaMask Mobile, Trust Wallet, etc.) via an end-to-end encrypted communication channel, without exposing private keys or sensitive information, providing a more secure and convenient authentication method for Web3 applications.
WalletConnect is a chain-agnostic protocol ecosystem focused on providing users with seamless connection services across wallets and applications.
Origins and Development
WalletConnect was initially launched in 2018 to address a user experience (UX) and developer experience (DX) problem: at the time, decentralized applications (dApps) were mainly designed for desktop users, but many end-users wanted to use wallets on mobile devices. Developers needed a unified way to support all user wallets. Thus, the WalletConnect relay and QR code scanning functionality was born, allowing millions of Web3 users to connect their wallets to the applications they wanted to use, restoring choice and composability to the industry.
Over time, WalletConnect continually addresses more UX/DX issues:
Allow users to use their wallets in mobile applications/mobile browsers
Enable users to use multiple browser extension wallets
Create a simpler one-click 'Ethereum Login' (SIWE) experience
Extend these functionalities to all networks beyond EVM
Key milestones of WalletConnect include:
Expanded to over 40,000 applications and more than 600 wallets
As of 2024, over 150 million connections have been facilitated
The continuous growth of daily remote connections proves widespread adoption
Transition to a permissioned decentralized database supported by third-party node operators
Features
Decentralized Connection: Allows users to interact with desktop or web-based DApps through mobile wallets (like MetaMask, Trust Wallet).
End-to-end encryption: All communications are transmitted via encrypted channels, and private keys are always managed locally by the user's wallet, not accessible by the DApp.
Multi-chain Support: Compatible with major blockchains such as Ethereum, Solana, BNB Chain, Polygon, etc.
Cross-platform: Supports iOS, Android, Web, and desktop.
Use Cases
DeFi Interaction: Trade or lend on platforms like Uniswap, Aave, etc.
NFT Market: Buy or sell NFTs on platforms like OpenSea, Blur, etc.
DAO Governance: Sign governance proposals (such as Snapshot) with the wallet.
Cross-chain Operations: Switch networks in multi-chain wallets (like Rainbow, Argent).
Working Principle
Initiate Connection:
The DApp generates a QR code or deep link (URI) with encrypted parameters.
Users scan the QR code (or click the link) with their wallets, and the wallet parses the connection request.
Establishing an Encrypted Channel:
Both parties exchange cryptographic keys via a Relay Server to establish peer-to-peer (P2P) communication.
Relay servers only forward messages and do not store data.
Session Authorization:
The wallet displays the DApp's permission request (such as access address, chain ID), and the connection is established after user confirmation.
Data Transmission:
Subsequent signed transactions and message interactions are completed through an encrypted channel.$WCT
