Pedro Gomes, Founder of WalletConnect, discusses the origins of WalletConnect, architectural changes in v2, and the EIP-6963. They also explore the intersection of WalletConnect with embedded wallets and smart accounts.
WalletConnect enables users to connect any wallet to any DApp remotely, increasing wallet diversity in the DeFi ecosystem.
WalletConnect's upgrade to V2 improved cryptography, WebSocket management, and scalability, allowing for a more secure and versatile wallet connection experience.
EIP 6963 enables an interoperable experience for browser wallets, fostering wallet diversity and enhancing the user experience for browser wallet users.
Deep dives
WalletConnect's Origins and Adoption
Pedro Gomez, the founder of WalletConnect, discusses the origins of WalletConnect and the need for a solution to remotely connect wallets to DApps. In the early days of Ethereum, Metamask was the dominant wallet option, leading to a lack of wallet diversity. WalletConnect aimed to change that by allowing users to connect any wallet to any DApp remotely. This breakthrough led to the adoption of WalletConnect by major wallets such as Trust Wallet, Cipher Wallet, and Safe Wallet, making it an essential tool for the growing DeFi ecosystem.
The Evolution of WalletConnect V1 to V2
WalletConnect V1 served as a prototype that quickly gained adoption. However, as DeFi exploded in popularity, the servers could not handle the increased demand, leading to frequent outages. This prompted the development of WalletConnect V2, which improved cryptography, WebSocket management, and scalability. The upgrade allowed for modular sub-protocols, enabling not just transaction signing but also features like encrypted chat and notifications. WalletConnect V2 was successfully upgraded in June 2023, paving the way for a more secure and versatile wallet connection experience.
The Impact of EIP 6963 on Browser Wallets
EIP 6963 was introduced to address the issue of conflicting browser extensions for wallet support, where multiple wallets would use the same JavaScript variable, causing conflicts and limited wallet diversity. WalletConnect and several wallet teams collaborated to implement this EIP, which enables an interoperable experience for browser wallets. By adopting EIP 6963, wallets like MetaMask, Trust Wallet, Brave, and others can coexist harmoniously, allowing users to connect their preferred wallet to any DApp without conflicts or limitations. This standardized approach fosters wallet diversity and enhances the user experience for browser wallet users.
The Importance of Project ID
Project ID in Wallet Connect V2 allows for tracking traffic, implementing quotas, and improving customer support. It helps address issues related to network blocking, project interference, and misimplementations, providing valuable data to improve user experience.
The Future of Wallets and Smart Accounts
The podcast discusses the evolution of wallets and the emergence of smart accounts. The focus is on the shift towards embedded signers in applications, offering a more seamless and convenient user experience. Additionally, the concept of cross-DApp accounts and the role of 6963 and 1193 standards are explained.
My guest today is Pedro Gomes, better known as @pedrouid on twitter. Pedro is the founder of WalletConnect, the most important software for connecting wallets to dapps.
On this episode, Pedro joins the show to discuss WalletConnect's origins and the architectural changes introduced in WalletConnect v2. We also go in-depth on the recently finalized EIP-6963: Multi Injected Provider Discovery, which brings together the most popular browser wallets to solve the instability caused when more than one wallet provider is injected into the same browser session. Finally, we touch on how WalletConnect will intersect with embedded wallets and smart accounts.
It was a pleasure getting to know Pedro and WalletConnect better in this conversation. I hope you enjoy the show.
As always, this show is provided as entertainment and does not constitute legal, financial, or tax advice or any form of endorsement or suggestion. Crypto has risks and you alone are responsible for doing your research and making your own decisions.
If you enjoy Web3 Galaxy Brain and would like to support the show, please send me a tweet or DM saying why you listen and what makes Web3 Galaxy Brain special for you. I'll post the best testimonies to the show's website. Thank you!
Links
https://docs.walletconnect.com/advanced/migration-from-v1.x/what-changed-from-v1.0https://eips.ethereum.org/EIPS/eip-6963 https://eips.ethereum.org/EIPS/eip-4337
Chapters
(00:00:00) Intro
(00:01:19) Interview starts
(00:01:48) EIP-7212
(00:02:20) Early dapp history
(00:06:20) EIP-1193
(00:08:40) Web3Modal and wallet connect SDKs
(00:14:05) WalletConnect v1
(00:18:00) WalletConnect v2
(00:20:15) Signaling servers
(00:26:10) Relayer incentives
(00:27:15) Why do I need a projectId to use WalletConnect v2?
(00:30:25) How many wallets are active?
(00:31:40) Using Safe with WalletConnect
(00:33:20) Wallet Terminology
(00:34:00) Smart Accounts
(00:36:00) The remote connection protocol is only 20% of what WalletConnect does
(00:38:40) Coming soon: Cross-dapp single signer embedded in Web3Modal
(00:42:20) Safe Core vs 4337
(00:43:00) Why doesn’t WalletConnect work over VPN sometimes?
(00:43:50) Are discrete software wallets going away?
(00:45:40) How does WalletConnect work?
(00:47:40) WalletConnect notifications
(00:49:05) EIP-6963 and the window.ethereum problem it solves
(00:54:15) The window.ethereum wars
(00:55:00) Mobile & browser wallets
(00:58:00) Wallet standards EIP-1328, 1193, and 6963
(00:59:42) How EIP-6963 works
(01:01:20) Fingerprinting protection
(01:03:10) EIP process tips
(01:04:50) Outro and links
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