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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.

Originally created to address fragmented and vulnerable DApp-wallet interactions, WalletConnect has grown into a protocol and a network that supports millions of users and thousands of applications.

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. 

WalletConnect is built on three key pieces:

Network: This is the system of nodes that pass messages between your wallet and the app you're using. These nodes are run by different groups to keep things decentralized.

SDKs: Developers use WalletConnect SDKs to add the connection feature to their wallets and DApps. The SDKs handle all the technical stuff behind the scenes.

Standards: WalletConnect uses standard rules for how messages are sent and received, which makes it easier for apps and wallets to work together smoothly.

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:

Governance: WCT holders can help decide how the network evolves, from protocol upgrades to fee structures.

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.

Performance-based rewards: Node operators and wallet providers are rewarded in WCT based on metrics such as uptime, latency, and the number of successful connections they facilitate.

Future fees: While WalletConnect doesn’t charge fees yet, WCT might be used for transaction fees later on if the community votes for it.

WCT is an ERC-20 token with a total supply of 1 billion tokens.

WCT on Binance Launchpool

On April 10, 2025, Binance announced WCT as the 67th project on the Binance Launchpool. Users who locked their BNB, FDUSD, and USDC during the farming period were eligible to receive WCT rewards. A total of 40 million WCT were allocated to the program, accounting for 4% of the total token supply.

After the farming period, WCT was listed for trading on Binance with the Seed Tag applied, allowing for trading against the USDT, USDC, BNB, FDUSD, and TRY pairs.

WalletGuide and Certification 

The WalletConnect team also runs WalletGuide, a project that reviews and lists wallets that meet certain quality and security standards. Wallets can earn certification, which makes them more trustworthy in the eyes of users and developers.

Adoption and Growth 

WalletConnect has seen significant adoption since its launch. According to their website, the project has made over 240 million connections to serve more than 38 million unique active wallets. Over 57,000 decentralized applications have integrated the protocol, which illustrates its utility and interoperability within the Web3 space.

Funding and Development 

The WalletConnect Foundation has raised $10 million from four consecutive oversubscribed token sales. The funds will enable the WalletConnect Foundation to expand operations, grow its team and support ecosystem initiatives — benefiting developers, node operators and strategic partners.

Closing Thoughts 

WalletConnect started as a simple way to connect wallets to DApps, but it’s grown into a whole ecosystem with its own token, governance system, and network infrastructure. With support for multiple blockchains and a strong user base, the project is enabling secure and efficient communication across multiple Web3 platforms.

Further Reading

Your Guide to Binance Launchpad and Launchpool 

How to Set Up a Crypto Wallet

What Are Decentralized Applications (DApps)?

Disclaimer: This article is for educational purposes only. This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Products mentioned in this article may not be available in your region. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.

Key Takeaways

Nillion is a decentralized network focused on secure data storage and computation. It enables the processing of private data without the need for decryption.

Nillion's architecture comprises the Processing Layer (Petnet), Coordination Layer (nilChain), and Connectivity Layer, each contributing to its secure and efficient data handling capabilities.

Nillion uses cryptographic techniques like Multi-Party Computation (MPC) and Homomorphic Encryption (HE) to ensure data privacy.

Introduction

Nillion is a decentralized network designed to offer secure computation and storage of sensitive data. It provides a privacy-preserving infrastructure where encrypted data can be processed without being decrypted, utilizing advanced cryptographic techniques.

What Is Nillion?

Nillion is a distributed computing platform that allows secure and private data processing. Unlike traditional blockchain networks that focus on decentralized transaction verification, Nillion specializes in blind computation—the ability to process data while keeping it encrypted. This can help improve privacy and security for applications that require data confidentiality, such as artificial intelligence (AI), finance, healthcare, and decentralized identity management.

How Does Nillion Work?

The Nillion Network is built on three key components: Petnet, nilChain, and Blind Modules. Petnet gives developers access to privacy-enhancing technologies (PETs) for securely storing and processing encrypted data. Meanwhile, nilChain facilitates payments and incentivization, ensuring active participation and resource allocation within the network.

1. Processing layer (Petnet)

This is the core of Nillion’s network. The Petnet processing layer consists of decentralized nodes that work together to perform computations on encrypted data. Because of its blind computation approach, no single node ever has full access to the original data, which reduces the risk of data breaches significantly.

2. Coordination layer (nilChain)

The coordination layer, known as nilChain, is built using the Cosmos SDK and serves as the backbone for managing network resources. It handles things like staking mechanisms, payments, and governance. Since the nilChain layer is focused on coordination, it doesn’t have an environment for running smart contracts.

3. Blind Modules

Blind Modules are a set of developer-friendly cryptographic tools that allow for secure computation without exposing raw data. These modules integrate privacy-enhancing technologies (PETs) such as:

Multi-party computation (MPC): Distributes computations across multiple parties, ensuring that no single entity has access to the entire dataset.

Homomorphic encryption (HE): Enables computations on encrypted data, producing encrypted results that can later be decrypted without exposing intermediate steps.

There are three main types of blind modules: nilDB, nilAI, and nilVM.

nilDB is a custom database solution that allows developers and users to use sensitive data while preserving its privacy. It works by distributing trust for data storage across multiple nodes, with each node holding a secret share of the data.

nilAI is the blind module that runs with artificial intelligence (AI). It leverages Large Language Models (LLMs) to provide AI services and tools with strong data protection.

nilVM is a module designed for developers to create privacy-focused applications using a Python-based domain-specific language (DSL). It can simplify blockchain interactions by allowing users and developers to manage multiple chains and private keys securely through MPC-based signatures.

Use Cases of Nillion

Nillion’s privacy-focused design makes it suitable for a wide range of applications. Some notable use cases include data storage, data analytics, AI and machine learning, and digital signatures.

1. Secure data storage

Nillion enables organizations to store sensitive data in an encrypted format while allowing authorized entities to retrieve and process it securely. This is useful for industries such as finance, healthcare, and government institutions that handle confidential data.

2. Data analytics on encrypted information

The Nillion platform has a SecretDataAnalytics feature that allows analysts to perform computations on encrypted datasets. This means organizations can extract insights from sensitive information without exposing the underlying data.

3. Decentralized AI and machine learning

Nillion supports AI applications by enabling privacy-preserving training and inference. AI models can analyze encrypted datasets without violating data privacy laws, making the network suitable for applications in medical research, fraud detection, and customer analytics.

4. Cryptographic signatures and secure transactions

The Nillion Signatures feature leverages MPC to enable secure digital signatures without relying on a centralized authority. This can be particularly useful for financial institutions and decentralized autonomous organizations (DAOs) that need confidential transaction verification.

5. Retrieval-augmented generation (RAG) for AI

Retrieval-augmented generation (RAG) is an AI framework that improves the accuracy and relevance of LLM outputs. It does so by collecting and integrating data from external sources before generating a response. By integrating PETs with RAG, Nillion can enable AI-driven applications to generate text-based insights while maintaining data privacy.

Nillion (NIL) on Binance Launchpool

On March 20, 2025, Binance announced Nillion (NIL) as the 65th project on Binance Launchpool. Users who locked their BNB, FDUSD, and USDC during the farming period were eligible to receive NIL rewards. A total of 35 million NIL were allocated to the program.

After the farming period, NIL was listed on Binance with the Seed Tag applied, allowing for trading against the USDT, BNB, FDUSD, USDC, and TRY pairs.

Closing Thoughts

Nillion introduces an interesting approach to secure computation and data storage through the use of advanced cryptographic techniques. With its blind computation framework, the network can offer privacy-preserving AI, encrypted data analytics, and decentralized identity management.

Further Reading

Your Guide to Binance Launchpad and Launchpool

What Is the Binance Airdrop Portal? 

What Is GUNZ (GUN)?

Disclaimer: This article is for educational purposes only. This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Products mentioned in this article may not be available in your region. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.