BlockWallet Releases Its Privacy-Centric Web3 Wallet

Key highlights:

• BlockWallet's privacy-focused Web3 wallet is now live
• The wallet functions as a web browser extension, and supports blockchains like Ethereum, BNB Chain and Polygon
• BlockWallet has features that help protect user privacy when interacting with dApps and transacting on the blockchain

BlockWallet releases their privacy-focused Web3 wallet

BlockWallet has launched their privacy-enhanced Web3 wallet, which can be accessed as a web browser extension for Google Chrome, Brave, Microsoft Edge and Opera. At launch, BlockWallet supports the Ethereum, BNB Chain, Avalanche, Fantom and Polygon blockchain platforms. 

The idea behind BlockWallet is to provide a Web3 wallet that protects privacy while retaining the core functionality expected by users. The wallet is also non-custodial, which means that users manage their own private keys. The BlockWallet team has also released a token called BLANK with multiple utilities including fee discounts for holders, token reward campaigns, rewards for liquidity providers, and more.

While Web3 has been hailed as a revolution in how we use the internet, most blockchains we’re using today have serious privacy issues. Blockchains like Ethereum have completely transparent ledgers, which has its own benefits – the public has access to unprecedented levels of insight into the on-chain economy, and can precisely analyze the activity on DeFi protocols, NFT marketplaces and other dApps. 

On the other hand, users don’t have a lot of privacy. Even though cryptocurrency addresses are pseudonymous, that doesn’t mean it’s impossible to connect them to real-world identities. In such cases, users can suffer a massive breach of their financial privacy, as all on-chain activity associated with a particular address is perfectly traceable. 

BlockWallet enhances the privacy of its users through various methods. The wallet features a proxy service that doesn’t disclose the user’s IP address and other metadata when interacting with decentralized applications. Ethereum users can take advantage BlockWallet’s zk-SNARKs powered Privacy Pools, which use a smart contract to mix funds and make them difficult to trace. 

Iman Hossini, the CTO of BlockWallet, commented on the project’s privacy-centric approach: 

“When users interact with Web3, it poses significant risks because now the financial data is also attached to the user. As we build Web3, we should not make the same errors as before but aim to create a truly private Web3 experience. BlockWallet launch is a significant step towards this goal.”

The launch of BlockWallet comes on the heels of a beta testing period in which more than 2,000 community members participated and provided feedback about their experience. In November 2021, the BlockWallet team used the Immunefi platform to launch a bug bounty program that offers a reward of up to $150,000 to users that identify critical bugs in the wallet.