In the past year, UX Ecosystem WalletConnect of the chain started with an ambitious decentralization program, which sets up the WalletConnect Foundation in 2024 in addition to the launch of its WCT token, used for reimbursements, rewards, deployment and governance on the network.
WalletConnect founder Pedro Gomes argued that the time was ripe to launch WCT on the basis of ‘Token-Market Fit’, in which it was explained that, with several SDKs building on top of the network, the stakeholders enabled “to find a common basis where we are encouraged to build together.” Token also encourages junction operators to merge around the mission of the network, he explained, and stimulating the crypto portfolios that have so far drilled around 40 million users on the network.
Finally, he said, there are “developers, users, members of the community – so many people were involved in bringing WalletConnect to this reality.” After the season one AirDrop of WCT, he said: “We see them participating more actively by turning off and by having governance, conducting discussions and feeling authorized to also be an owner.”
The establishment of the WalletConnect Foundation was inspired by the rapid growth of the WalletConnect -Ecosystem, because it grew to not only include the own network of WalletConnect built on top of its own SDK, but other SDKs building on the network, explained Gomes.
“We not only saw the chance to remove the single point of failure, but also to attract all these ecosystem partners to actually work with us,” he said.
Plans for the future
Looking at the future, Gomes said that the network “will take several corners through decentralization to really find a way that we can be as resistant and as worldwide as possible.”
In addition, those push changes come to the economy of the WCT -he added. “We started with what I think is a very healthy token ecosystem for WCT,” he explained, but foreseen improvements to how rewards are assigned to junction operators, portfolios and SDKs.
Finally, the introduction of costs on the network will ensure that “all these rewards income is driven,” he explains, adding that “we not only have a decentralized network, but we can even have a profitable decentralized network.”
Streamlining Crypto UX
To date, WalletConnect claims to have made more than 255 million “seamless, secure connections” possible for more than 45 million users worldwide, which connects an ecosystem of 600 portfolios and 54,000 apps.
As part of his drive to improve the user experience in Crypto, WalletConnect launched its WalletConnect Certified Kitemark last year, which recognizes projects that “meet the highest standards in UX, compliance, security and function integration.”
“Walletconnect was born of standards,” said Gomes DecryptAdding that the certification helps to coordinate portfolios regarding criteria for “good user experience, good security and meet interoperability standards.” He explained that: “Of course we want every wallet – developer to have the freedom to build how they want – but at the same time we must have a basic line where we define a good wallet, and then you build from there.”
To achieve Crypto Real Mainstream acceptance, portfolios must concentrate on having “as little as possible clicks”, says Gomes.
“The number one complaint that people have is that there are just too many steps,” Gomes said DecryptAdding that: “If there is a click somewhere, it must be deleted.”
To that end, Gomes said, the upcoming Smart Sessions function of WalletConnect, first plagued in 2024, will enable users to “connect and forget”. Crypto portfolios can use it to connect to apps with just one click, he explained, and added: “You never have to return to the wallet to approve transactions – you just connect and you’re done.”
“Smart sessions not only change how portfolios work, but how we deal with Dapps,” he said, adding that the impact “will be quite crucial for the user experience.” Ultimately, Gomes suggests that crypto portfolios have a “persistent connection that protects you against any malicious activity, and it just happens magically in the background.”
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