How to Use Wallet Connect
Cryptocurrency apps are on the rise, with new installs of the top 20 cryptocurrency apps increasing by as much as 902% in the last quarter of 2021. To use and leverage the functionality of these decentralized applications (DApps), users need of compatible blockchain apps. necessary bags. Integrating multiple crypto wallets into any app is a tall order. Thus, WalletConnect acts as a bridge that easily connects blockchain wallets to multiple DApps.
What is Wallet Connect?
The protocol establishes an encrypted remote connection between wallets and applications. It uses a key shared between two partners to build a symmetrically encrypted connection. Simply put, Wallet Connect is a bridge that connects any mobile wallet to any decentralized web application.
Wallet Connect allows users to connect more than 170 wallets with Wallet Connect, such as MetaMask and Trust Wallet, to more than 450 DApps, such as Uniswap and Aave. This connection between DApp and wallet is established when the other partner scans a QR code (or deep link) with a standard Wallet Connect URI, and is established when the other party accepts that connection request. When Walle tConnect is integrated with a specific DApp, it is easier to establish a reliable and secure connection. This is much safer than implementing MetaMask or any other crypto wallet.
Updated features of Wallet Connect 2.0
Wallet Connect 2.0 promises new infrastructure enhancements for its v1.0 features:
- Chain Agnostic: Wallet Connect 2.0 can run on any blockchain of your choice, such as Ethereum or Cosmos.
- Multi-chain: Wallet Connect 2.0 enables multi-chain integration: in other words, the protocol not only supports multiple chains, but also allows users to connect one wallet to multiple chains simultaneously.
- Decentralized Messaging: Encrypted wallet-to-wallet messaging allows users to control who can send messages to their wallet.
- Push Notification: Wallet Connect 2.0 includes push notification features that notify users of incoming transactions.
Connecting DApps to Wallet Connect
Connecting DApps to Wallet Connect is quite quick and easy. However, the process varies depending on whether you’re using a computer or a mobile device. Before starting, check that the DApp you choose supports Wallet Connect. Follow these four steps to start using Wallet Connect in DApps:
Open the compatible DApp
Open the mobile or web DApp you want to connect to in a mobile or desktop browser. Make sure Wallet Connect is compatible with the specific DApp. Before you begin, try this sample application available online: https://example.walletconnect.org/
Link your wallet
While we use Uniswap as an example, almost every DApp on Ethereum today has the ability to connect a wallet (or similar). Use your wallet and select this option. You can connect to Wallet Connect if your DApp supports it.
- For desk
Select Wallet Connect and scan the QR code displayed with your wallet.
- For mobile use
If you use a mobile browser and select the Wallet Connect option in the DApp, you will see the Select wallet of your choice option. Select the desired wallet from the displayed list.
Scanning the QR code will open the selected/favourite wallet. A popup will appear asking if you want to accept the connection to the wallet of your choice. Once the connection is authorized, the DApp will successfully access and interact with your wallet.
The DApp can now be used to withdraw funds or assets (e.g. tokens) from your wallet up to the limit you set.
Confirm the transaction
You are now connected and ready to use WalletConnect in your DApp. When you make a transaction in a DApp, a pop-up window will appear asking for your approval for the transaction. Review the transaction details and click Confirm Exchange. Then a pop-up window will appear in the wallet asking for confirmation of the transaction. Click Confirm after verifying the information.
This way, any user can connect DApps to WalletConnect through their own proxy to ensure the most secure and encrypted transactions.
Is Wallet Connect secure?
Mobile apps are generally not as secure as hardware wallets. Hardware wallets have well-defined security and special security solutions that allow them to store and use users’ private keys more securely.
However, WalletConnect establishes a secure and encrypted connection between your wallet and the DApp. All information sent between the wallet and the DApp is encrypted with a symmetric shared key that only these two parties have. Whether you scan a QR code or use a direct link in a mobile wallet, the primary key is not shared with the bridge server. This means that the key is not leaked to any third party, including the intermediary performing the secure transaction.
How you ensure the most secure connection with Wallet Connect
Please check that the recipient’s address and the transaction amount are correct before confirming the transaction. This ensures that the Wallet Connect application does not change the transaction information in any way when sending a malicious transaction. To prevent fraud, DApp developers can host their own bridge servers/brokers and ensure comprehensive protection.
It is also a good practice to disconnect the wallet from the DApp after completing the transaction. You should also make sure you are using a DApp with a safe and trusted URL.
Wallet Connect is a popular and distinctive product that has become a boon in the world of DeFi DApps. Simplify the confusion and complexity of connecting different wallets with DApps that support multiple chains. Also, the upgrade of Wallet Connect to v2.0 provides an even more user-friendly interface.
As cryptocurrency wallets become more popular and complex, Wallet Connect offers users an all-in-one solution to securely conduct crypto transactions and communicate between any DApp and any wallet.