Dapps are becoming more popular than ever. This is largely due to the explosion of DeFi over the last year, with over over 4 billion USD currently locked in various projects. With so much money at stake, interacting with dapps securely is especially important – as is being able to deposit or withdraw funds quickly and conveniently.
From decentralized exchanges to prediction markets and the infamous CryptoKitties, for a long time, interacting with dapps meant running a browser extension wallet like MetaMask. Such wallets allow users to access whatever dapp infrastructure lies on the normal web while at the same time making a wallet available to interact with its blockchain-based smart contracts.
Using browser wallets comes at a cost, however. Browser wallets don’t offer an ideal user experience for generating and securely storing a seed. Many users prefer to keep their coins on hardware devices or within an existing wallet. Interacting with dapps hence means generating a new wallet in the browser and transferring funds across.
Of course, it’s also possible to copy a wallet’s private key into a browser extension, “connecting” it to a dapp – but this is far from an ideal solution. Not only can the process be fiddly, but it leaves a private key exposed for a certain amount of time. This is to say nothing about using dapps conveniently on mobile devices, or the relative ease with which fake wallet apps can steal user funds.
Nash has always held that making blockchain accessible to everyone is essential for it to succeed. Access to dapps has been too complex and insecure for them to be embraced by a broader public.
This has now changed, thanks to the open-source WalletConnect protocol.
WalletConnect makes it possible to link any wallet to a dapp securely simply by scanning a QR code. Users no longer have to worry about exposing private keys or generating a new wallet. Instead, they can just use their phone as a device to sign transactions from an existing wallet, making funds available to the dapp.
Nash users now have simple, easy access to the exciting world of DeFi on Ethereum, with decentralized borrowing and lending offering novel opportunities to put crypto investments to work – in addition, of course, to a plethora of other dapps.
In the near future, Nash user wallets will also be given additional protection through our MPC-based APIs. This will truly make Nash the best wallet solution for everyday users – as simple as email, as secure as hardware and with quick and convenient access to dapps.
By making this complex technology easily available to everyone, we hope to help bring about a new era of secure self-custody and financial freedom.
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