A Glimpse into the Development Trend of Blockchain Wallets - DotWallet

A Glimpse into the Development Trend of Blockchain Wallets
2021.05.30

 

Since the arrival of Bitcoin, blockchain wallets have also emerged. As there are more and more types of digital currencies, the types of blockchain wallets have also increased. DotWallet is a high-quality digital wallet powered by blockchain. At present, there are dozens of common digital currencies in the world, so the existence of blockchain wallets is particularly important. Though the main function of the wallets is to help users securely store their digital assets, they are definitely not only limited to this.

 

Since the development of blockchain wallets, it is no longer a simple digital asset storage tool, but a blockchain application with multiple attributes and rich functions. From a high-level perspective, the responsibilities of blockchain wallets also include private key management, application interface , and transaction management. Take DotWallet as an example. It is a lightweight, non-custodial digital asset wallet powered by BSV (Bitcoin SV) technology. It supports BTC, BSV, and ETH multi-currency management and is available on the official website, and Apple and Google Play stores. DotWallet supports multiple login and registration methods, including phone number, email, and multiple third-party logins. Users have the full control of their private key. All transactions can be inquired on the BSV chain. It has multiple functions: AutoPay, DotWallet Swap, and built-in applications. BTC and ETH wallets are built on the BSV tokenized protocol. DotWallet surpasses other digit wallet apps in instant payment and lowers fees. Moreover, “Cards” using Badge and Touchstone functions support individual developers and teams to create and manage assets on the BSV chain easily.

 

Blockchain technology is now a breakthrough in the innovation and development of all walks of life. With the popularization of digital assets and the rise of new business models in the future, blockchain wallets’ development will have new directions. Together with blockchain technology, it will play a greater role and have more complete functions and see a wider adoption. For example, nowadays, people in China frequently use Alipay instead of cash and bank cards, not only because it can send and receive money, but more importantly, Alipay makes life easier by avoiding the problem of carrying cash, finding change, and counterfeit cash. The troubles and the cumbersome process of bank cards can be easily solved by simply using a QR code. Whether it is a street vendor or a shopping mall businessman, Alipay can be very convenient for both of them. It can be seen that if blockchain wallets are to be accepted and used by more people, they need to have more real life use cases. Although it may be a long process, we believe the future is promising.

 

In the future, everyone has digital currencies, and the existence of a blockchain wallet will be more necessary. The advantage of using a blockchain wallet is that your information is completely under your control. Unlike a centralized wallet (ie, Alipay and other wallets). The information is open, and even controlled by others. The management of the “private key” of the blockchain wallet is particularly important. Once the private key is lost, it means that the assets may be stolen at any time. In the world of the blockchain, once the private key is stolen, that means the wallet is no longer yours anymore. Because there is no central organization that can help you trace it back. This is also where the technological subversion of the blockchain wallet lies. Take DotWallet as an example. The private key is truly under user’s control. DotWallet does not save the user’s private key or store it on the server. Even if there are various problems such as cyber attacks, user’s digital assets will not be affected at all.

 

In the future, the blockchain wallets will welcome a more innovative and powerful ecosystem. DotWallet will always keep its original goal in heart, and continue to improve the wallet’s application ecology and add more useful features. We aspire to be the leading digital wallet in the blockchain world!

 

Blockchain wallet invites you into a new world. It is very important to have a high-performance blockchain wallet. DotWallet is the earliest and the most used BSV wallet around the world. Here are more exciting services, welcome to download and enjoy it now: https://www.dotwallet.cn/en/download

 

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