Summary
WalletConnect, a leading web3 communications protocol, has announced an ambitious roadmap to build an open, permissionless, and decentralized network. The roadmap includes four phases that will be implemented over the next year, with the aim of launching an open, permissionless WalletConnect Network in 2025. The move towards decentralization is crucial in light of the centralized control of web3 protocols, which poses a threat to the security and resiliency of the web3 ecosystem.
Introduction
Pedro Gomes, CEO and founder of WalletConnect, has unveiled a new roadmap to create a decentralized network that aligns with the principles of web3. This comes at a time when centralized control of web3 protocols is becoming a concern, highlighting the need for decentralization in the industry. The WalletConnect Protocol, which has facilitated interoperability between users, decentralized applications, and wallets, will transition to a fully decentralized, permissionless WalletConnect Network while maintaining reliability and low-latency.
Main Points
The roadmap consists of four phases:
- Phase One: Close beta test and launch of the closed, permissioned WalletConnect Network. Infrastructure expansion and implementation of a consistent-hashing approach to progressively decentralize while maintaining user experience.
- Phase Two: Launch and test the closed, permissioned WalletConnect Network. Introduction of a permissioned registry approach for multiple parties to access the database.
- Phase Three: Launch and test the open, permissioned WalletConnect Network. Expansion of core infrastructure into a permissioned network, with selected third-party relayers contributing to a peer-to-peer framework.
- Phase Four: Launch the open, permissionless WalletConnect Network. Transition to a fully decentralized state, operated collectively by a community of infrastructure providers.
Conclusion
WalletConnect’s roadmap towards decentralization aims to address the challenges posed by centralized control in the web3 ecosystem. The transition to a decentralized network will provide improved security, resiliency, and privacy for users. WalletConnect hopes to set an example for other infrastructure providers in the industry and contribute to the fulfillment of web3’s promise.