WalletConnect (WCT): The Cross-Chain Connectivity Standard for the Web3 Ecosystem

The core value of WalletConnect

WalletConnect was born in 2018 and has supported over 15 billion connections, compatible with more than 600 wallets and over 40,000 applications. Its chain-agnostic design allows users to easily connect to various DApps, whether using Ethereum, Solana, Cosmos, or Bitcoin. End-to-end encryption ensures user privacy, and no personal transaction data is stored.

WCT token and decentralized governance

WalletConnect has launched its native token WCT, supporting staking, governance, and reward mechanisms. Holders can participate in decisions regarding protocol upgrades, fee adjustments, and incentive distribution. Currently, WCT is used for staking and governance, and in the future, a fee payment function will be introduced to promote the sustainable development of the network.

Network Participants and Architecture

The WalletConnect network consists of service nodes, gateway nodes, wallets, applications, and users. Service nodes are responsible for data relaying and need to stake WCT, while gateway nodes optimize traffic routing. Wallets such as MetaMask, Trust Wallet, etc., all support WalletConnect, and applications cover various fields including NFTs and DeFi.

Future Development Blueprint

WalletConnect plans to fully open access to nodes, launch audit node monitoring for security, support NFT registration for wallets and applications, and implement community proposal governance. The goal is to become the core communication protocol of the Web3 world, promoting ecological transparency and decentralized operations.

Conclusion

As the cornerstone of Web3 connectivity, WalletConnect not only simplifies the user experience but also realizes community governance through the WCT token. With the launch of WCT trading on Gate, more users will participate, jointly promoting the prosperity of the decentralized network.