In a previous post, I talked about what we mean when we say web3 wallet. To deep dive on that, check out “Back to Web3 Wallet Basics”.
In today’s post, I want to talk about a relevant feature: wallet-to-wallet messaging. And, help you understand why it is important.
Up until recently, the sole purpose of a web3 wallet was to conduct transactions. E.g., I want to buy crypto, I use my wallet OR I want to gain access, I present my token ownership.
However, web3 wallets are meant to be and will be more than simple transaction mechanisms. Web3 wallets are at the core of the future of the internet, as we, the users, require a seamless digital experience that works across the internet akin to what we have in the physical world with our physical wallets (more on that vision here).
Wallet-to-wallet messaging is a feature that brings us one step closer to the next evolution of the internet.
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So, what is it?
Think about messaging today:
- I have a phone
- I download a messaging app and sign-in/up
- I add you as a contact
- I send you a message
And then think about web3:
- I have a web3 wallet
- I opt into messaging protocol
- I add your wallet address (or domain name) as a contact
- I send you a message
Pretty simple process really.
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I could go into how it works, but that would require a detailed look at the different wallet-to-wallet messaging protocols that exist like XMTP, WalletConnect, Blockscan Chat, etc.
Rather than doing a deep dive on the technicals, let’s summarize the key characteristics of this emerging form of messaging:
- Protocols are decentralized (or moving towards decentralization) and integrate with existing wallet providers
- All messages are encrypted; i.e., only the sender/receiver can view the message content. Your wallet (private keys) decrypts the message for you to view
- Messages are not stored on centralized servers; i.e., your messages are your messages — no centralized tech player or government controls them
- Unlike messaging of today, you’re not locked into a single platform; i.e., my Telegram messages are different from my WhatsApp are different from my iMessage. Rather, any wallet can connect to the protocol and your messages still work — you own your messages in this new paradigm
While it’s been around for a few years, this concept is still relatively new. Each of the web3 messaging protocols I mentioned above are building different architectures to accomplish these goals, and we will see how these evolve with user adoption.
Now, you may not move to web3 messaging today, and that’s okay. The first time you heard about Telegram, I’m sure you didn’t sign up right away!
Over time, people will come to value this functionality more and more. As digital wallet adoption grows and becomes more prevalent in our lives, features like wallet-to-wallet messaging will be crucial for the user experience.
For today, it’s important to understand that web3 wallets are becoming more than a simple transaction mechanism.
Keep your eye out for what else wallets become!
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