What is a web3 wallet?

An ERC wallet refers to a digital wallet that supports the Ethereum network via ERC standards. ERC stands for Ethereum Request for Comment, establishing common guidelines for tokenized assets on Ethereum.

Proving You and Your Assets Digitally

A Web3 wallet enables users to authenticate themselves and demonstrate ownership of digital possessions within DApp. By connecting one's wallet, identity and credentials can be seamlessly synced across decentralized applications and services through matching verification of private encryption keys on public blockchains. This assures all counterparties of one's identity without reliance on central authorities. Similarly, supported crypto-assets within the wallet can be quickly proven as belonging to the wallet holder, removing ambiguity around the legitimacy of ownership within an ecosystem where ledgers of transactional data are distributed yet secured from manipulation. As blockchain networks continue to facilitate novel forms of digital property and interactions, Web3 wallets will remain an invaluable means of establishing trust through verifiable claims of identity and asset possession in a decentralized, token-driven Internet.

Prominent examples of ERC wallets include:

Popular hot wallets

• MetaMask: A pioneer browser extension wallet facilitating interactions with DApps and NFT platforms on Ethereum. MetaMask also offers mobile apps and supports WalletConnect.

• Trust Wallet: A multi-chain wallet that stores Ethereum assets while connecting devices through its app. Trust Wallet uses WalletConnect.

Popular cold wallets

• Ledger Nano X/S: Popular hardware wallet with apps for approving transactions from connected hot wallets like MetaMask, enabling signing on the secure, offline device.

• Trezor Model T/One: Another widely used cryptocurrency hardware wallet with peer-reviewed firmware. It integrates via WalletConnect bridging with applications like Trust Wallet.

• CoolWallet S: Innovative hardware wallet with Bluetooth-enabled card design for ultimate portability. Its mobile app facilitates WalletConnect transaction approvals on a remote device.

WalletConnect is an open standard that enables cross-chain and cross-wallet communication. ERC wallets with WalletConnect integration permit interactions across different wallet interfaces, further expanding accessibility within the Ethereum ecosystem.

Key functions of ERC wallets include managing ERC-20 tokens, holding NFTs, accessing decentralized applications, and executing transactions while interacting seamlessly via protocols like WalletConnect. This establishes ERC wallets as important access points to Ethereum and affiliated WEB3 applications.