BlockWalletOfficially launched the privacy-oriented wallet, which is compatible with all major browsers and devices in the Web 3.0 ecosystem. This wallet, which is not custodial, works well with several browsers such as Google Chrome, Brave, and Opera.
BlockWallet has announced privacy options for DeFi users. Anyone can send funds anonymously and conceal their financial situation (account balances). This feature is missing in Metamask, a popular non-custodial wallet.
The project’s CTO Iman Hossini commented on the launch, noting that privacy is a core feature in setting the stage for the Web 3.0 economy,
“When users interact with Web3, it poses significant risks because now the financial data is also attached to the user. Web3 must not be rebuilt with the same mistakes as previous versions. Instead, we need to make Web3 private and secure. BlockWallet launch is a significant step towards this goal.”
BlockWallet is both for market-savvy users and those who are new to crypto. Crypto participants will be able to keep their identities private and not be tracked by authorities or hackers. Simply put, BlockWallet conceals DeFi users’ on-chain trail hence giving back control over their data.
Through cryptographic security and proxy integrations to privacy-enabled browsers like Tor, the wallet can achieve such functionality. BlockWallet’s smart contract infrastructure pools users’ funds into one pool, generating a new address for each transaction. This means that on-chain ‘analysts’ cannot track the sender’s original depositing address.
Aleksandras Gaska, CEO of BlockWallet was very keen to stress the need to safeguard Web 3.0 users against privacy breaches.
“In a world where privacy violations are commonplace, it is imperative to protect your privacy. But not everybody has the time or skills to protect their privacy. I am happy that we can finally present a practical solution for the blockchain world that allows everyone and everywhere to take ownership of their privacy.”
BlockWallet, which is part of the DeFi ecosystem, will allow participants to access multiple DApps hosted on smart contract Blockchains like Ethereum, Fanton and Binance Smart Chain (BSC). The non-custodial account will include Metamask snap plugs that allow for smooth funds transfers between both ecosystems.
BlockWallet went through a stringent beta-testing round with over 2,000 members of the community. White hat hackers may receive $150,000 for finding vulnerabilities in the ongoing bug bounty program. BlockWallet’s future versions will offer enhanced security and user experiences.
Notable is the fact that BlockWallet attracted prominent cryptocurrency investors such as X21 Digital and Wood stock. BlockWallet raised $1.8 Million in its private token sales round. The native $BLANK token is now trading on several cryptocurrency exchanges, with a market capital of $16,000,000 as of this writing.