How Is the WCT Token Price Trend? What Is the WalletConnect Project?
According to the Gate.io market data, WCT is currently priced at $0.411, with a 24-hour decline of 10.23%. The current circulating market value of WCT is $76 million, ranking 361st in the overall market. However, the current circulation of WCT is only 18.62%, with a total circulation market value of up to $411 million. WCT was listed on Gate.io on the evening of April 15th, with an opening price of $0.399. It dropped to near $0.276 at its lowest and reached a high of $0.559, showing a trend of wide price fluctuations.
What is WalletConnect project
In today’s thriving blockchain and decentralized application (DApp) development, how to securely and conveniently connect user wallets with various applications has become an important topic in the Web3 ecosystem. WalletConnect, as an open-source protocol, is born to solve this problem. Through innovative technical solutions, it has become a standardized tool for connecting wallets and DApps, promoting interoperability in the decentralized world.
WalletConnect was founded by Dutch developer Pedro Gomes in 2018, with the core goal of breaking down barriers between different blockchain applications. It establishes encrypted communication channels, allowing users to securely connect wallets (such as MetaMask, Trust Wallet) with DApps (such as Uniswap, OpenSea) without exposing private keys. Its technical implementation includes two key mechanisms:
- QR code scanning/deep linking: Users generate QR codes or links on the DApp side, complete pairing by scanning or jumping with the wallet, without manually entering sensitive information.
- End-to-end encrypted relay: All interactive data is transmitted through decentralized relay servers, using symmetric encryption technology to ensure privacy, and ensuring that transaction signatures and other operations are completed in the local wallet.
WalletConnect technology advantages and ecological value
The unique design of WalletConnect makes it a key component of Web3 infrastructure:
- Cross-chain Compatibility: Supports mainstream public chains such as Ethereum, Solana, and Cosmos, meeting the needs of multi-chain ecosystems.
- Decentralized architecture: no single point of failure risk, relay nodes maintained by the community, in line with the spirit of blockchain.
- Developer-friendly: Provide SDK and standardized API to reduce the integration threshold of DApps, with over 500 projects currently integrated.
- User experience upgrade: seamless switching between mobile and desktop, users do not need to repeatedly import mnemonic words.
From DeFi trading to NFT minting, WalletConnect has penetrated various fields of Web3. For example, users can connect their mobile wallets to desktop DEX for large transactions, or purchase virtual assets with hardware wallets on VR metaverse platforms. Its applications continue to expand to complex interactions such as DAO governance and cross-chain bridging.
The WalletConnect v2.0 version launched in 2023 further optimizes the protocol performance, adds functions such as multi-chain session management, push notifications, and plans to introduce Account Abstraction (AA) technology to achieve a seamless transaction experience. With the development of new modules such as WalletAuth, it may become a universal identity verification layer for Web3 in the future.
WallectConnect Future Outlook
As the ‘HTTP protocol’ of the blockchain world, WalletConnect is building the infrastructure of the value Internet through standard communication protocols. It not only solves the interoperability issues between wallets and DApps but also promotes the evolution of Web3 towards a more secure and open direction through the continuous innovation of the open-source community. In the foreseeable future, with the prosperity of multi-chain ecosystems, WalletConnect may become the core link connecting virtual and real, finance and social.
