WalletConnect is an open-source protocol that enables secure connection between decentralized applications (dApps) and mobile or desktop wallets.

Imagine it as a "bridge" that facilitates interaction between your favorite dApp and your crypto wallet, without the need to expose your private keys.

Its main goal is to simplify and secure the user experience when interacting with the Web3 ecosystem, allowing seamless transactions and message signatures.

🔹Key Structure and Operation:

The structure of WalletConnect is based on an asynchronous and encrypted messaging system, which operates through relay servers.

When a dApp wants to connect with a wallet, a pairing process is initiated:

🔹Login (WC Session): The dApp generates a QR code (or a deep link for mobile) that contains a pairing URL. This URL includes a "topic" (a unique identifier for the session), a pairing key (for encryption), and the URL of a relay server.

🔹Scanning/Connection: The user scans the QR code with their wallet or clicks on the deep link. The wallet reads the information and connects to the specified relay server.

🔹Session Establishment: Both the dApp and the wallet send encrypted messages through the relay server, using the pairing key. These messages establish a secure and persistent session. The wallet asks the user to approve the connection, verifying the permissions that the dApp requests (for example, viewing addresses, requesting transaction signatures).

🔹Message Exchange (RPC): Once connected, the dApp can send Remote Procedure Call (RPC) requests to the wallet. These requests include operations such as:

💠 eth_sendTransaction: To initiate a transaction on the blockchain.

💠 eth_sign: To sign an arbitrary message.

💠 eth_accounts: To request the address of the active account.

🔹Notification and Response: The wallet receives the request, presents it to the user for approval (for example, confirmation of a transaction), and once approved, signs the transaction or message locally.

The response (the signed transaction or signature) is sent back to the dApp through the same encrypted channel of the relay server.

Main Components:

🔹Clients (SDKs): @WalletConnect provides SDKs (software development kits) for dApps (JavaScript/TypeScript) and for wallets (JavaScript/TypeScript, Swift for iOS, Kotlin for Android). These SDKs handle pairing logic, encryption, and communication.

🔹Relay Servers: They are intermediaries that facilitate the exchange of messages between the dApp and the wallet. They do not have access to transaction data or private keys, as all messages are end-to-end encrypted.

🔹Pairing Protocol: Defines how sessions are established and maintained between the dApp and the wallet.

🔹Session Protocol: Manages the exchange of RPC messages after the initial connection has been established.

In summary, WalletConnect is a secure and blockchain-agnostic communication layer that allows dApps to interact with any compatible wallet, enhancing security, usability, and interoperability in the vast and growing ecosystem of decentralized finance (DeFi) and Web3.

#WallerConnet #defi #Web3 #dApps #blockchain $WCT

Disclaimer ⚠️

The information provided in the previous post is for informational and educational purposes only. It should not be interpreted as financial, investment, legal, or tax advice.

Investments in cryptocurrencies and decentralized finance (DeFi) carry significant risks, including the potential total loss of the invested capital. Past returns are not indicative of future results.

Always conduct your own research (DYOR - Do Your Own Research) 🫵🏻