What Is WalletConnect & How Does It Work?

There is no requirement for such complex manual input when users can easily scan a code and link their wallets to DApps. This user-centric method helps increase in popularity of blockchain applications. WalletConnect is a single-integration, open-source protocol. Developers can use WalletConnect to enable users of over 300 wallets to log into decentralized applications they’ve created. These applications, also known as dApps, are apps hosted on decentralized networks like Ethereum.

Simple integration

The Bitcoin network does not offer dApps, so WalletConnect has a limited Bitcoin presence. WalletConnect was founded in 2018 to change how users interacted with wallets. 4 years ago, access and interchangeability of wallets were rigid. Although there were different types of wallets that provided different functionality, interchanging across them required users to undergo rigid processes.

• The beauty of this design is that WalletConnect does not need your seed or recovery phrase to log in to a dApp.
• Web3 seeks to facilitate user–blockchain interaction in a way that is not different from interacting via the web.
• The ability to connect with different protocols through WalletConnect greatly simplifies the management of users’ financial assets when performing transactions within DeFi applications.
• The risk of loss in cryptocurrency can be substantial and nothing herein is intended to be a guarantee against the possibility of loss.
• Simply find the DApp you want to interact with, connect with a QR code or deep link, and you’re good to go.

WalletConnect Cloud​

The Web3Wallet SDK allows you to easily connect your Web3 wallet with dapps. Start building with Reown and create unparalleled user experiences today. Unlock native UX features within your wallet and enable wallet users to easily connect with thousands of apps. However, given the large number of blockchain wallets the 11 best bitcoin wallets of 2021 revealed! available, DApp developers are not able to implement native support for every single wallet out there. Let’s also take a look at how to confirm transactions while you’re connected using WalletConnect. Here I’ve started a simple swap from BNB to BUSD in PancakeSwap.

Meet Reown: the onchain UX platform

By default, WalletConnect assumes users want to log in using a mobile wallet. However, if you use a desktop wallet, click the promoting value for money ‘Desktop’ label. WalletConnect is compatible with over 150+ different crypto mobile wallets.

On a mobile application, you should be redirected to Omni each time you wish to approve or deny a transaction. WalletConnect is an open protocol for connecting desktop DApps to mobile wallets using end-to-end encryption by scanning a QR code. This enables a user to use a mobile app like Trust Wallet to connect cryptocurrencies currency competition and the impossible trinity to websites (DApps) and carry out transactions securely without revealing any secret information. WalletConnect is an open protocol that enables users to connect mobile crypto wallets to DApps through deep linking and QR code scanning. Pedro Gomes created WalletConnect in 2018 to allow users to connect their self-custody crypto wallets to decentralized applications (dApps). The added advantages of WalletConnection make it stand out in matters concerning de-centralized finance (De-fi) and blockchains.

Next, go to your Trust Wallet app, click on ‘Settings’, select ‘WalletConnect.’ Then, click ‘New Connection’ to be able to scan the provided QR Code. Mike Martin formerly served as the Head of Content for tastycrypto. Before joining tastycrypto, Michael worked in the active trader divisions of thinkorswim, TD Ameritrade, and Charles Schwab. WalletConnect works by leveraging QR tech and encryption to allow users to confidently interact with hundreds of different dApps. The transaction will be submitted to the Binance Smart Chain network.

WalletConnect is therefore both a roadmap and an actual bridge on the way toward a network of blockchains linked up with each other and where users have better control. Some of the blockchains it supports include Tezos, which helps in connecting its wallet to Tezos-based Dapps. Open standard-based wallet connection creates collaborative innovation in the blockchain ecosystems. Its acceptance among several projects and wallets points that people do believe in such a protocol which is what makes it reliable and sustainable.

The purpose of WalletConnect is to connect cryptocurrency wallets to decentralized applications. It does this safely by using QR codes and encryption technology. WalletConnect uses QR code scanning and encrypted communication channels to guarantee maximum security. Using Dapps protects users’ private keys and seed phrases from being exposed, thus restricting unauthorized access or compromise.

Scan the QR Code with Your Mobile Wallet

In order to interact with a dApp, you must first connect your crypto wallet. In this example, we will access PancakeSwap and do a quick trade. You will need your Trust Wallet app and another device to access the PancakeSwap website (preferably a desktop browser). If you only have a mobile device, you can use WalletConnect Mobile Linking to access a DApp. Alchemy combines the most powerful web3 developer products and tools with resources, community and legendary support. Like WalletConnect, we at Alchemy push the ecosystem forward by making life easier for developers through our products.