As announced, the integration combines Binance’s secure mobile offering with Wanchain’s cross-blockchain payments solution. With the addition, Wanchain joins an exhaustive list of cryptocurrencies supported by the Trust Wallet–including obscure ERC20 and ERC223 tokens.
Malta-based Binance acquired Trust in July 2018 for an undisclosed amount, with many batting an eyelid on the latter’s lack of userbase. However, Trust Wallet is committed towards responsible, decentralization asset management and does not hold funds on native servers.
Instead, it allows the anonymous storage of crypto-assets via an Ethereum-based wallet on the user’s mobile phone. Additionally, the application is said to have undergone a “bank-level” audit, which can be accessed here.
The audit helps generate trust in the integrity and safety of the wallet application. At the user end, an additional level of security is provided to protect against theft of phone – such as personal biometric login and mandatory pin to access.
Another exciting feature of Trust Wallet is of allowing users to interact with decentralized applications (dApps) and exchanges (DEXs) seamlessly, due to its vast support of all ERC20 tokens.
The development is the third crypto-wallet to support WAN tokens, with only Portal Network’s iOS wallet and Wanchain’s WanWallet being the two other dedicated wallet offerings. The former allows users with a Wanchain Name Service feature that, similar to Ethereum’s Domain Name Service, will enable users to transact WAN by using “yourname.wan.”
Meanwhile, Wanchain continues to develop its ambitious platform. The interoperability feature aims to simplify modern finance by providing fast settlement of loans, asset exchanges, multi-asset ICOs, and other asset management capabilities.
Currently, Wanchain 2.0 extends the cross-chain functionalities for the Ethereum blockchain, but come Wanchain 3.0, and the same features shall be extended for Bitcoin and related applications.
Cover Photo by Karl Magnuson on Unsplash