Web3 Wallet Development Guide, the first step towards encryption for users

The competition in the Web3 wallet market has entered a fierce state. While upgrading the UI interface and enriching wallet function settings, major wallet projects have also added many user-friendly privacy functions. **In fact, in recent years, wallet projects are mainly oriented toward low threshold, personalization, and diverse development directions. Only in this way can we find market positioning in the homogeneous technological competition and target target users. **So facing the future of Web3 development, how to further improve the risk control function of Web3 wallet, and improve the user experience under the premise of satisfying security? Will the complexity of interface design bring more difficulties to users? These questions were answered by wallet developers and investment experts at the TinTinWeekly event held last week. If you are also interested in the development of the Web3 wallet market, let’s take a look!

WONDERFUL VIEW

• Web3 wallet development, product design and marketing are equally important
• The “all-round hosting” Web3 wallet is more suitable for users’ needs
• Web3 wallet development needs to focus on risk control and audit services
• Future Web3 wallet development should further decentralize data control and ownership

**Technology and market develop simultaneously, **Develop a superior Web3 wallet project

Vitalik’s development logic is also applicable to Web3 wallets

When we face the question of which is more important, technology development or marketing, the answer may be “thousands of people have different faces”. The founder of Bitizen once said, “Vitalik is both an excellent genius programmer and a poor product manager”, which sparked discussions among Web3 enthusiasts. In fact, for wallet development, the problem of whether technology or the market should pay more attention has always been in front of us. "I think this issue should be looked at more objectively and fairly. Developing products should not only be considered from the technical dimension, but also from the perspective of commercial feasibility. As an excellent technical person, Vitalik may have a certain understanding of user experience. There is a certain lack, and the commercial market is not so valued,” Mako teacher commented. For example, when it comes to wallet development, technical personnel may think that the longer the password setting, the better, which represents a kind of security; but for users, whether they can remember a long string of passwords is convenient rather than a threshold. Too high, this is a point that needs to be weighed.

Taking Cobo as an example, Mr. Jamie pointed out that as a “all-round hosting solution” wallet, it is correct for V God to view the design logic of this product from the perspective of technical logic, because *the product includes the consideration of avoiding contract risks *; But from the perspective of business logic, Cobo will think about and explore the path for products to adapt to the needs of customer application scenarios, and find the direction to meet and solve customer pain points.

The perfect Web3 wallet requires excellent technology and product capabilities

In this regard, GerryWon and Mr. Adam expressed different opinions on this point of view. **How to arrange the technical ability and the role of the product manager? **The key is to see if the product itself can maximize the capabilities of the two roles. Vitalik is a brilliant technical researcher in his own right. In the entire Ethereum ecosystem, he is not only a technical researcher, but also a project architect. At the same time, one of the most important tasks of the product manager we are talking about is to clarify the target customers (for example, the target customer group of Ethereum is not C-end users, but developers and project parties), so it is more necessary to understand from the perspective of protocols and applications Consider dimensions such as user experience and usability. “From the perspective of the wallet, this is an entrance for users to enter Web3. Developing such a great application requires strong technical and product capabilities, and this is not a multiple-choice question”, Mr. Frost concluded.

**The competition in the wallet market is fierce: **Enriching application scenarios is the key

In the discussion of Web3 wallet development, in addition to the selection of technology and market, finding a unique project positioning is the key to stand out from the encirclement. The wallet is different from the traditional payment and transaction tools. The wallet is more of a tool for generating and protecting private keys to sign transactions. The user’s assets are finally recorded on the chain, and the blockchain is used to ensure everyone’s safety. At present, the competition in the Web3 wallet market is very fierce. The reason is that there are more and more circle-chain scenarios developed by everyone, including DeFi mining and purchasing NFT. Wallets are required. In this context, Mr. Mako pointed out the advantages of imToken as a new generation of wallets: **Users use regardless of national boundaries, with a strong trust mechanism; committed to promoting user wallet education, so that users understand the various settings of the wallet . **

Cobo, which also pursues continuous improvement of functions, has also developed a wallet version that perfectly meets the policy compliance environment and is suitable for more user scenarios. **Cobo can recommend actual wallet application scenarios according to each customer, and has also won licenses in different regions including Hong Kong, Singapore, and the United States to further expand Cobo’s coverage and increase market share.

“The key to break out of the Web3 wallet market is to lower the user threshold”, Gerrywon took the Everpay launched by the team as an example, and explained the natural decentralized storage public chain RWA adopted by it (allowing the storage of user data assets without restrictions), this product feature can further extend the traditional financial application scenarios and promote user transactions and circulation.

**Wallet security challenges are significant, **controlling risks is imperative

While the competition in the Web3 wallet market is in full swing, security risks and usage problems about wallets also frequently arise. Teacher Adam believes that we must first clarify the current application situation of Web3 wallet, this is a multi-terminal application software with various forms (including browser plug-ins, mobile apps, and clients), and the security required by different forms Auditing and testing are not the same. Overall, we need to monitor and control the development of the Web3 wallet as follows:

• Client security (prevent page hijacking and ensure network communication security);
• Back-end service API security (to prevent user privacy leakage);
• Blockchain security (key generation, storage display security);
• Signature security (to prevent the risk of being cracked);

On the whole, wallet application development needs to do a good job in risk prevention and control across Web2 to Web3, and the focus is to formulate security rules for business engines. For developers, they must have a higher level of security operation skills and awareness to avoid unnecessary risks.

**Enhance user-friendliness, **make users trust the wallet more

As discussed above, users are not very concerned about the technology development itself in the process of using the wallet, but are particularly concerned about the user experience. For all Web3-oriented wallet developers, balancing security and friendliness is an important proposition to be solved urgently. ** "As imToken’s wallet for ordinary users, ease of use is also the key to our consideration. We will cooperate with some third-party security agencies to audit wallets and services, solve risk control problems in a timely manner and inform users. In addition, we pay great attention to helping users to use wallets safely through user promotion and guidance, especially the wallet backup function”, Mr. Mako emphasized that imToken is helping users understand wallets and private keys, and this essence also Improving the user-friendliness of the wallet. During the recent period, imToken put forward 49 requirements from the user demand pool for feedback and function improvement, mainly in the optimization of price and DApp.

Coincidentally, after 6 years of iteration and improvement in interface design, Cobo has carried out targeted upgrades to user usage scenarios; secondly, Cobo has proposed a one-stop technical solution from the interaction process of DeFi in transactions. **These two directions are the path for Cobo to improve user-friendliness when designing and developing wallets, and also make users trust the wallet more. **As far as Everpay is concerned, the product has risk rating warning and shielding functions in terms of security to ensure the safety of user funds; in terms of user-friendliness, continuous optimization of functional experience, such as WeChat’s red envelope grabbing is also being used for reference, and is committed to meeting More payment scenarios in daily life.

Faced with the question of whether the interface design will affect the security of the wallet, Mr. Adam firmly believes that a good page design will reflect the stability and usability of a product, so a good product It will also be more safe for users. At the same time, there is no necessary relationship between page design and security. The more user information exposed on the page, there may be more privacy risks, so the page design should be as simple as possible. **This point is also worth thinking about and applying to all wallet developers. **

**Support decentralized exploration, **decentralize wallet data control

For the future of Web3 wallet development, decentralized exploration has never stopped. Just as various emerging Web3 projects are calling for and realizing user self-ownership, wallets are actively providing support for decentralized identity solutions and gradually delegating data control rights to users**. Everpay’s upcoming new version can lower the threshold for users to use the wallet, and does not collect any user data to ensure privacy and security. "Actually, the key consideration for Web3 wallets is to expand user growth and respect users’ rights to keep their own data and property. We have also been exploring ways to further delegate data ownership and control to users. On the one hand, private collection The needs of more users**; on the other hand, gather more funds to fully support the upgrade of the development version”, Mr. GerryWon summarized.

Since last year, Cobo has been developing a new smart scientific wallet, which allows users to realize free transactions and fund allocation through decentralized management. This has also become an important tool for users to operate freely in the DeFi field. At the same time, the self-developed plug-in Cobo Connect can help users directly interact with various underlying protocols on the Cobo platform. I believe that in the future, we will see more Web3 wallet projects that support decentralized identity and privacy protection. As Mr. Frost pointed out, “Successful Web3 wallet projects need to use the developer’s diverse combinations and infinite imagination” .