The WalletConnect protocol - a bridge between dApps and mobile wallets
One of the most important requisites to become a crypto user in the blockchain space is to own a crypto wallet. There are plenty of wallets available in the crypto market for users’ perusal like the Metamask wallet for Ethereum, Bitcoin Wallet etc. A crypto wallet needs to have certain characteristics that make it easily viable, simple to use and user-friendly. Go through this blog on crypto wallet development to understand more.
Today, in this blog, let us learn about one more very popular crypto wallet that is available in the crypto market today : WalletConnect.
What is the WalletConnect protocol?
1) WalletConnect is more of a bridge between Decentralized Applications (DApps) and mobile wallets, than a wallet itself.
2) It is an open protocol that enables establishing a connection between crypto wallets and desktop apps.
3) Using WalletConnect, users can scan a QR code on their wallet app that allows a seamless integration with the user interface of the web app.
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Features of the WalletConnect protocol
1) Unlike Metamask, WalletConnect does not require installing a browser extension for mobile wallets to connect to dApps.
2) Users can choose their own mobile wallet since WalletConnect facilitates the connection of any wallet with any dApp.
3) WalletConnect has not only simplified the process for wallet users but has also provided much needed flexibility to the dApp developers.
How does WalletConnect work?
To start with, users are first required to scan a QR code (of the respective web dApp) from their wallet app on their mobile device. WalletConnect establishes a secure encrypted connection between the wallet and the application. The dApp is then required to approve the connection request from the wallet post which it sends transaction requests which then the wallet has to approve. Once connection is established, the user can easily access the smart contracts and other aspects of the dApps.
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Benefits of the WalletConnect protocol
1) WalletConnect establishes an encrypted connection between the user’s mobile wallet and the dApp which makes it extremely secure.
2) That being said, even though there is a strong connection, the dApp does not have access to the private keys of the user.
3) Every time there is a transaction, WalletConnect always asks for an approval before the actual transaction takes place which means the user’s money is not spent without him/her having the knowledge of it.
4) Unlike popular dApp connecting options like Status, WalletConnect does not require the private key or the seed phrase in case of withdrawal of any stuck funds.
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