Wallet Connections

This page helps you understand Wallets and touches on Attestations

What is a Wallet?

In the world of blockchain and cryptocurrencies like Ethereum, a wallet is essentially a tool that allows you to interact with blockchains. It's not just a place to store your digital assets; it's more like a keyring for your cryptographic keys, which control access to your tokens and other digital assets. Wallets manage these keys, enabling you to send, receive, and manage your cryptocurrency.

Types of Wallets

1. Browser Wallets (Software Wallets)

• Examples: MetaMask, Trust Wallet

• Features: These wallets are browser extensions or standalone applications that allow you to interact with decentralized applications (dApps) directly from your web browser. They are convenient for daily use because they're easily accessible but rely on the security of the device they're installed on.

2. Hardware Wallets

• Examples: Ledger, Trezor

• Features: These are physical devices designed specifically for the secure storage of private keys. They keep your keys offline, which significantly reduces the risk of online hacks. Users connect these devices to their computers when they need to sign transactions.

3. Smart Wallets

• Examples: Wallets using WebAuthn technology, Account Abstraction wallets

• Features: Smart Wallets represent a newer category where authentication can be handled through mechanisms like WebAuthn, which supports biometric or PIN-based authentication. These wallets use keys stored in your device (browser or OS) and can be linked to services like Google or Apple for recovery. Unlike traditional wallets, Smart Wallets can automate certain actions, such as:

  • Account Abstraction: Allowing users to pay gas fees in tokens other than ETH or even have another party pay for transactions.

  • Multi-signature: Transactions can require multiple approvals, enhancing security.

  • Social Recovery: If you lose access, trusted contacts can help you recover your wallet.

Important Note on Smart Wallets: While smart wallets offer convenient features, it's crucial to understand that you still have a private key to manage - it's just hidden behind layers of abstraction. This key might be stored in your browser, operating system, or cloud services, and may or may not be properly backed up or synchronized across devices. The convenience comes with potential risks if you don't understand where your keys are stored or how they're protected.

Wallets as Keyrings

A wallet, in essence, is a keyring because it holds the private keys that allow you to access and control your digital assets. Just like a physical keyring where keys unlock different doors, in blockchain, these "keys" sign transactions or interact with smart contracts.

Zipwire and Classic Wallets

Zipwire is designed to connect to traditional or classic wallets, specifically those known as Externally Owned Accounts (EOAs). These are:

• EOAs: Accounts controlled by private keys, where you manually sign each transaction. The most common example is wallets like MetaMask, which you can install as a browser extension or use as a mobile app.

EOA Upgrades: It's worth noting that EOAs can be upgraded to smart wallets using later advances to Ethereum (post-1559), such as Account Abstraction. This means your traditional EOA wallet can gain smart wallet capabilities while maintaining compatibility with services like Zipwire.

Notes

• Compatibility: Currently, Zipwire supports connection only via browser extensions like MetaMask. This means you can use Zipwire to issue attestations but only if you're using a wallet that fits the EOA model.

• Attestations: With Zipwire, once you connect your EOA, you can issue attestations which are like digital certifications or claims about your identity, achievements, or any verifiable information on the blockchain.

Conclusion

Understanding the type of wallet you use is crucial for how you manage your digital identity and assets. While Smart Wallets offer advanced features and convenience, they still require careful key management behind the scenes. Zipwire currently integrates with classic EOA wallets to provide a secure and straightforward way to issue attestations, with clear visibility into your key management responsibilities. As wallet technology evolves, Zipwire aims to adapt and expand its compatibility to enhance user experience and security.

Getting Attestations

You can obtain blockchain attestations through Zipwire in two ways:

Self-Service: Use Zipwire Attest to register independently and get attestations directly to your wallet.

Business Integration: Use Zipwire Collect when businesses include ID checks in their document collections - you can claim free attestations to your wallet.

If you encounter issues or have questions about connecting your wallet or using Zipwire for attestations, please reach out to our support team.