Why Web Wallets?

by

Ronak Kadhi

Developer's Corner

|

Apr 7, 2023

Wallets are a quintessential part of the crypto and web3 ecosystem at large. They help users manage their private keys, sign on transactions, track their assets, and more. Among the various kinds of crypto wallets available to users, web wallets are some of the latest and most user-friendly options. They come with an easy-to-use UI, are accessible through the internet, and are ideal for any user looking to trade crypto or sign up on dApps actively. In addition, Arcana has built our non-custodial web wallet called the "Arcana Wallet." Check out our official documentation to learn more about our web wallet.

This blog post elaborates on the various reasons to use web wallets and how they benefit users and dApp developers. Read on.

Why Use Web Wallets?

Crypto wallets are not only used for tracking assets and transacting onchain but also for signing up on dApps and interacting with the web3 ecosystem. And this is where it gets complicated. For a non-web3 native interacting with dApps, setting up a crypto wallet and signing on transactions can be somewhat daunting. This also explains why the onboarding rates of dApps are generally low and users face high friction when signing up for new dApps.

On the other hand, a web wallet makes it incredibly simple for new web3 users to interact with dApps. Since web wallets are embedded in the Iframe of a browser, they can be accessed on the fly and help users authenticate, store assets, and sign transactions seamlessly.

Moreover, web wallets are equally helpful for native web3 users. Because not many crypto natives are comfortable logging in to new dApps through their primary crypto wallets. That is when embedded web wallets such as the Arcana Wallet can be valuable. dApp developers can integrate the Arcana Auth SDK to provide a non-custodial web wallet for users to interact with their application(s).

How Web Wallets Benefit Both dApp Developers & End Users

Web wallets help new users better navigate the web3 space, and dApp developers onboard more users. But the advantages of using web wallets do not end just here. This section explores four ways dApp devs and users benefit from using web wallets.

By Reducing Extra Steps & Eliminating Friction

As we wrote earlier, new web3 users looking to sign up on a dApp must go through choosing a crypto wallet, downloading, setting the wallet up, and signing on transactions. With an intuitive web wallet like ours, signing up dApps becomes a walk in the park. Like any other web2 app, users can authenticate themselves through social auth or passwordless login and use the Arcana Wallet to sign up on dApps. All-in-all, web wallets enable users to interact with the web3 ecosystem with less friction and help dApp devs onboard new users quickly.

By Improving User Experience & Usability

Most crypto wallets that web3 natives rely on expect users to know how to manage their keys– a task that not every non-native web3 user might be up for! Along with figuring out a new dApp that a user signs up on, they would also need to get accustomed to using their crypto wallet. Bottlenecks in crypto wallets would invariably translate to a poor user experience when interacting with dApps.

Web wallets, such as the Arcana Wallet, manage users' keys over a distributed network of nodes. As a result, users are no longer required to trust a single entity and get superior privacy, along with the freedom from having to manage their keys themselves. As a result, the overall user experience and usability of dApps also tend to improve with web wallets.

By Providing Better UI Control for dApp Devs

Developers don't get to customize the web wallets that are supported by their dApps. But with web wallets like ours, developers choose between UI modes to offer a non-intrusive user experience. For use cases with high transactions, the UI mode of the Arcana Wallet is a great fit. On the other hand, use cases with minimal onchain transactions can go with the widget UI mode. The freedom to choose between UI modes and offer a tailored experience to users is made possible through web wallets.

By Providing Brand-Specific Customizability in Wallets

Most standalone wallets do not support features that allow developers to customize the wallets or brand them according to their dApp. Arcana Wallet, on the other hand, lets developers customize a few components of the wallet to resonate with the dApp's brand, improve recall in users and provide a personalized experience overall.

Arcana Wallet: A Secure & Smart Web Wallet for All

The Arcana Wallet is an embedded non-custodial web wallet accessible for all dApps that integrate our Auth SDK. Our web wallets provide secure key storage, management of private keys, and hassle-free interaction with dApps.

Integrating the Arcana Wallet is as simple as it can get. First, developers must install and integrate the Arcana Auth SDK in their dApps. Doing so will let users sign up using passwordless auth and social login mechanisms, with the Arcana Wallet widget becoming readily available for users once they authenticate and log in.

The Arcana Wallet UI comprises three components– token, profile, and notification. The token section displays the wallet address, balance, assets, activity, and network information. The profile section shows the user's basic information, such as name, email id, and active network. Finally, the notification section notifies the user of any transaction that needs to be approved.

You can learn more about integrating the Arcana Wallet and its features here in our official documentation: https://docs.beta.arcana.network/docs/category/using-arcana-wallet

About Arcana Network

Arcana is Web3 infra for devs to launch and scale apps through its Auth, Store, and Access SDKs. Web3 apps use Arcana's SDK to authenticate users with Social and Passwordless Auth and create non-custodial wallets, Store Encrypted/Unencrypted Data, and Manage Access. Built for Ethereum and EVM-based chains, with Arcana's privacy stack, developers can build secure and privacy-preserving apps with a seamless user experience.

Arcana has raised 2.7Mn USD from some of the leading investors and founders in the ecosystem, such as Balaji Srinivasan, Founders of Polygon, Woodstock, Republic Crypto, and Digital Currency Group.

Watch out for Arcana's upcoming Mainnet in December 2022. Want to know more about our Mainnet features? Book a demo.

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The call is completely free and no commitment is required.

Copyright © Arcana Technologies Ltd. All rights reserved.

Schedule a Demo

The call is completely free and no commitment is required.

Schedule a Demo

The call is completely free and no commitment is required.

Schedule a Demo

The call is completely free and

no commitment is required.