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What is WalletConnect Protocols

Chapter 4

Decentralizing the Online Experience With Web3 Technologies

WalletConnect is a publicly available protocol that facilitates secure connection between decentralized applications (DApps) and mobile bitcoin wallets. Users can engage with DApps on their desktop browsers while ensuring the secure storage of their private keys on their mobile wallets. The protocol facilitates a connection by means of QR code scanning and employs end-to-end encryption to guarantee the security of user payments. WalletConnect has emerged as a widely adopted standard in the blockchain and cryptocurrency industry, serving to improve the user-friendliness and security of decentralized apps.

Published in Chapter:

Wallets and Transactions

Pankaj Bhambri (Guru Nanak Dev Engineering College, Ludhiana, India)

Source Title: Decentralizing the Online Experience With Web3 Technologies

DOI: 10.4018/979-8-3693-1532-3.ch004

Abstract

Digital wallets are of utmost importance in transforming the online experience as they serve as the core constituents of decentralized ecosystems. This study explores the operational mechanisms of different types of wallets, encompassing hardware wallets and software-based solutions, in order to elucidate their distinctive characteristics and security implications. Moreover, the chapter offers a comprehensive examination of decentralized transactions, elucidating the profound impact that blockchain technology may have in cultivating trust, enhancing security, and promoting transparency. By examining real-world illustrations and analyzing case studies, readers will acquire a comprehensive comprehension of how wallets and transactions serve as the fundamental infrastructure for a novel epoch of online engagement. This transformative development is reshaping the manner in which individuals interact with digital assets and engage in decentralized networks.

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