Erik Weijers, 9 months ago
WalletConnect is a kind of API that connects your crypto wallet to decentralized applications (dApps). This way, you can get going with your crypto assets, no matter which wallet you use and no matter which dApp you want to use.
WalletConnect is sometimes mistakenly thought of as an app, whereas it is a protocol for connecting apps and your wallet. Because it is open-source, it is more of a standard than anything else.
The problem it solves in the market is that many crypto wallets can't do anything except store and send or receive your crypto. Whereas on dApps you have to access a wallet to do anything: think swapping or staking coins. They were more or less separate universes, which got a bridge through WalletConnect.
When we say wallet, we're not just referring to browser extensions like MetaMask, but also hardware wallets like Ledger. The apps in question are not only financial Web3 apps but also Web3 games.
As a user, ever since WalletConnect you have more choice to choose a crypto wallet that you like. Before WalletConnect, you could not always connect every wallet to every dApp.
For developers, it also used to be difficult: they had to "hardcode" the support for all those wallets. WalletConnect now takes care of that for them.
Have you used WalletConnect to create the link between your wallet and the app (for example, with a QR code? Then you still have to give approval for each transaction in your wallet. WalletConnect has no permission to do this. Also, the connection is - of course - encrypted.
Jan 10, 2023
Convex Finance lets Curve’s liquidity providers and Curve stakers earn more rewards. Curve Finance is a decentralized exchange (dex) that focuses on stablecoin swapping.
Dec 21, 2022
Impermanent loss means something like unrealized loss. It is the risk caused by price fluctuations between two coins in a liquidity pool on a decentralized exchange. The unrealized loss becomes realized the moment you withdraw your capital from the pool.
Dec 02, 2022
There are two big sectors in the crypto industry that are not necessarily competing but complement each other. One is DeFi which is the abbreviation for decentralized finance, and the other is CeFi which stands for centralized finance. With both playing an essential role in crypto, we like to introduce you to CeFi with this article.
Nov 28, 2022
After the successful Ethereum Merge, a potential censorship issue has crept up on Ethereum. In the new block production architecture, an increasing number of transaction blocks is being built by an organization called Flashbots. This organization has chosen to be compliant with the sanctions list of the American OFAC. This poses a risk of censorship on the protocol level of Ethereum. Flashbots is aware of this and has proposed a solution.
Sign up to stay informed via our email updates