Walletconnect (WCT) is a project that transforms the way crypto currency wallets connect with decentralized applications (DAPPs). Walletconnect NetworkThe WCT, presented as part of it, is a management and service coin that makes it possible to manage the safe wallet – Dapp interactions, stake operations and decentralized management. Since its launch, Walletconnect has become a basic protocol in the web3 ecosystem. With WCT, the protocol has become a user -oriented and community ownership.
What is Walletconnect?
In 2018, Walletconnect was launched as a protocol to communicate between crypto currency wallets and DApps. Unlike browser plug -ins or storage solutions, it focuses on privacy and security through encrypted connections. Users can contact Dapps by scanning a QR code without sharing special switches via Walletconnect.
The protocol is compatible with many blockchain networks such as Ethereum, Solana and Bitcoin. This enables users to manage their assets and services in different networks with a single wallet interface. WalletConnect helps to reduce the disintegration between web3 tools and services by encouraging co -operation.
One of the biggest advantages of Walletconnect is that it has an open source architecture. Developers can integrate the protocol into wallets or applications without the need for central intermediary institutions. This both increases transparency and encourages rapid adoption in the ecosystem.
Components of the Walletconnect Ecosystem
WalletConnect ecosystem includes tools and platforms that simplify web3 development and interactions. This building provides basic tools for developers and formerly Walletconnect Inc. It is supported by Reown, known as.
AppkitIt is a set of vehicle sets designed to increase the usability of application in decentralized environments. It makes the process easier for developers who want to create user -friendly experiences. It improves DApp functionality with features such as session management and wallet integration.
Walletkit It supports designing flexible wallet experiences. With this vehicle kit, developers allow users to easily access thousands of applications from a single wallet. Walletkit prioritizes the user experience and makes wallet interactions in different protocols easier and more consistent.
These two vehicle sets are part of Walletconnect’s goal of facilitating the use of web3. WalletConnect ecosystem that provides ready -to -use resources makes it possible for developers to produce safe and scalable applications.
Walletconnect’s growth: 2024 for the project
Especially the year 2024 was an important year of progress for Walletconnect. Protocol has achieved remarkable growth in terms of use and infrastructure development. The activities in Walletconnect Network increased by 340 percent, and the number of connections increased from 41 million to 2024 to 179 million in 2023.
Walletconnect also expanded the user base to a great extent and reached more than 4.1 million unique active wallets (UAW). This growth reveals the main role of the protocol in web3 interactions. More users have preferred Walletconnect as a safe bridge between wallets and Dapps.
Another important development in September 2024 Walletconnect CoinWCT has been released. WCT Coin decentralized management supports stake operations and protocol incentives. At the same time, with the aim of managing the transition to the community ownership of the network Walletconnect Foundation established.
Walletconnect launched its first Airdrop campaign in 2024 to reward those who contributed early to the project, and Airdrop and 50 million WCT Coins were distributed.
WCT’s usage areas and tokenomics
WCT CoinThe management and service coin that strengthens Walletconnect Network. The total supply is 1 billion units. It is designed to encourage, reward contributors and finance future improvements. WCT Coin Stake plays a central role in network fees and management processes.
WCT owners can vote for network upgrades, wage changes and strategic initiatives. In -chain management is planned to be started in the second quarter of this year. With this system, coin owners will be able to determine the direction of the protocol.
Coin also supports the Dynamic Stake Model. Users determine the amount and duration of coins they will stake themselves. Locking times for WCT Coin vary from one week to two years. The Stake Awards started to work as of 19 December 2024.
In addition to this WCT It is used in the payment of network fees and in premium services. Node operators and verifiers that protect the network are awarded with WCT. Coin also increases the use of the protocol by financing developer grants and integrations between Blockchain.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
