Lin Zheming: DotWallet for Developers Boosts the Applications on Blockchain - DotWallet

Lin Zheming: DotWallet for Developers Boosts the Applications on Blockchain
2021.02.25

 

Source:CoinGeek

 

DotWallet for Developers sticks to a developers-centered approach and provides multiple blockchain technological solutions to enterprises. It has been online for one year. In this short time, it has provided multiple blockchain technology solutions to entrepreneurs. When DotWallet for Developers 2.0 goes online, CoinGeek invites Lin Zheming again to introduce the new features of the platform.

 

What are the functions of DotWallet for Developers? What are the connections between DotWallet and the platform? 

 

DotWallet for Developers is a basic facility for developers. The platform was created by DotWallet and Mempool including services for miners and wallet users.

 

Miners will know how to check the status of transactions, double spending, and fees on the bitcoin blockchain by the platform. We don’t w ant to operate the same product using two brands. Therefore, DotWallet for Developers was launched. mAPI is another service from the platform.

 

DotWallet has been dedicated to asset management, private key management, and UTXO management. The business scope focuses more on off-chain services. However, wallet plays an important role concerning the usage on the blockchain. Users manage their private keys and own the write-in right of data and ledger. In the following API, we will add operations of Bitcoin ledger (Check, write-in) and private key management about user identity.

 

Thanks for answering. What is your plan on DotWallet Web Version and DotWallet Pro?

 

In my opinion, users can access the DotWallet web version at a lower cost. It takes more time to download an App version that may impact the usage rate of our product. We will implement more key functions on the App version. However, we will stick to implement basic private key management and key usages on the web version.

 

Users can simply register and use the service of DotWallet through a third-party login and other methods. They can also receive vouchers to experience the charm of each service. If the user is interested, he can switch to the DotWallet, because the noncustodial wallet has more functions and the private key can be kept safer. These functions are provided by the Pro version.

 

When we have our apps and platforms, we can distinguish them from traditional app platforms without being restricted by platforms like WeChat, Apple, or Android. In general, the goal of the Web version of the wallet is to lower the threshold for users, while the goal of the Pro version of the wallet is to provide more functions to enhance the convenience of professional users.

 

I heard that DotWallet has launched BaaS service. Can you introduce us to us in detail? 

 

"Bitcoin as a Service" essentially takes the Bitcoin ledger as a service using the blockchain in a paid way. Compared with the traditional way, this eliminates the user's dependence on the management brand. Although the user is using our service, the product does not have to be connected to BaaS to use it, because all transactions and signatures behind it are completed independently.

 

The process is very simple: if users want to use Bitcoin transactions to operate the ledger, they need to have UTXO first, and UTXO's BaaS is provided by our platform. Users don’t have to buy coins. Instead, they can use UTXO to attach information indicating that they need to be time-stamped with the blockchain. This information is signed by the user's private key, resulting in a zero-rate transaction. Under normal circumstances, these transactions will not be accepted by other miners. Therefore, BaaS customers need to submit these transactions to Mempool. Mempool will collect service fees from these customers and use BSV points behind the scenes to allow other miners to accept such transactions and write them into blocks. In this process, customers do not need to directly use Bitcoin.

 

When we have our apps and platforms, we can distinguish them from traditional app platforms without being restricted by platforms like WeChat, Apple, or Android. In general, the goal of the Web version of the wallet is to lower the threshold for users, while the goal of the Pro version of the wallet is to provide more functions to enhance the convenience of professional users.

 

I heard that DotWallet will collaborate with sCrypt. Can you reveal the highlights to us?

 

This has a certain relationship with the smart contract Token scheme we will propose later. sCrypt's smart contract is not directly supported by their application but requires the cooperation of the private key signature of the miner and the wallet vendor to complete the entire process. In detail, in this process, users do not need to write scripts by themselves, but we will help users use private keys to sign and authorize.

 

In addition to sCrypt, what other cooperation cases have been reached on the RBI open platform?

 

We have good cooperation with SatoPlay and Twetch, and are currently connecting with other service providers. Next, there will be some applications that belong to the DotWallet for Developers platform (non-DotWallet wallet). The scenario to be expanded for these commercial applications is to use the digital signature and proof of work mechanism of the Bitcoin blockchain through BaaS services to provide more value for enterprise applications.

 

Thanks for your reply. Will you consider scaling the business scopes of DotWallet for Developers?

 

We always welcome previous developers and service providers to cooperate with us. We will first consider the required functions and whether this matches our long-term plan. If there is the same demand for a certain function, we will focus on the specific requirements for development.

 

Besides, for the expansion of new scenarios, it is recommended that everyone can think in the BaaS field of the coinless blockchain, instead of providing services for existing currency holders.

 

The BaaS service model allows users to use the Bitcoin ledger while reducing the time to learn how to use Bitcoin. Users can still fully control their data through private keys. This is a win-win solution.

 

 

 


 

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