Partnered With:

What are the advantages of Blocto Wallet to be the "Steam" of the blockchain world?

Read this article in 14 Minutes

The problem Blocto hopes to solve is: on the premise of satisfying security, through simple product logic, friendly UI/UX design, do a good job of ecological entry, and better serve the people who are empowered by the bottom public chain.

Blocto: Not wanting to be Steam's wallet is not a good platform.

Original article by Klaus, YBB Foundation

BTC, which was born in 2008, brought the concept of tokens and the corresponding token carrier -- the wallet. After 13 years of development, the types of wallets are also gradually diversified, from single chain single asset wallet to multi-chain multi-asset wallet, from hot wallet to cold wallet, from centralized wallet to decentralized wallet. In addition to basic asset management functions, today's Web3 wallets often also realize functions such as dApp interaction and NFT collection. Wallets have become an indispensable piece of infrastructure in the blockchain world and a user's entry point into the blockchain world.

Due to the importance of the portal, a large number of developers flocked to the wallet track, resulting in a severe homogenization and polarization of the wallet project: native Crypto users are almost used to using MetaMask, while new users don't have a fixed wallet or are easily lost due to inadequate guidance.

With millions of users, MetaMask can meet daily needs, but it's not a friendly cross-chain experience, and it's not easy for a non-Ethereum ecosystem project to access MetaMask. According to macroeconomics, when the market tends to a state of complete competition with serious homogeneity, the benefits of innovation will be diluted. Any good innovation will be copied and converged again. In-volume among developers does not improve the ease of choice and experience for new users.

Wallet developers should calm down and think about the real needs of users: how to do a good job of ecological entry through simple product logic, friendly UI/UX design and scenario-based functions under the premise of satisfying security, and at the same time better serve the people who are enabled by the underlying public chain.

In that regard, Blocto will be a product to look forward to.

It starts with Flow, not just Flow

Blocto is an integrated cross-chain smart contract wallet that aims to be the blockchain portal for everyone -- providing the simplest, most efficient, and most fluid cryptographically interactive experience for everyone. New users can create wallets in Blocto, manage their assets, make transactions, use dApps, buy and sell NFT, etc. just as easily as they would use an Internet application.

Blocto was best known earlier as the first wallet on Flow. In fact, Blocto's ambitions go far beyond that. Founder Li Xuan once said in an interview:

"Rather than calling Blocto a cryptocurrency wallet, it's more like a dApp browser."

This is why Blocto has chosen to develop on Flow using the Cadance language. Unlike Ethereum, Flow allows developers to act as "agents" to pay fees. In addition, Flow has many more flexible designs, such as "allowing one public key to correspond to many private keys", which gives development teams more options for product architecture.

Based on Cadence's flexibility, Blocto addresses two major challenges that are daunting for new users:

#1 One-click registration

"Not your key, Not your Bitcoin." is widely circulated in the crypto community to inform people of the importance of private keys. However, it should not be ignored that the complexity of creating, copying, and keeping private keys is really daunting for many new users.

Blocto's solution is to automatically generate and host a random set of private keys for all new users for a silky "one-click email login" approach. After the registration is completed, each user can generate a new set of private keys at any time, and record and keep them by themselves. The old private keys will become invalid immediately.

# 2 gas

Most of the major cross-chain wallets don't solve the user problem -- users still need to hold multiple assets in order to pay Gas when interacting with different blockchains. Blocto, on the other hand, allows users to use the BLT (Blocto Native Token) to pay Gas charges for all ecological transactions they access. Users can log in once and hold a BLT to travel between different eco-apps.

Currently, Blocto already supports Ethereum, Flow, Solana, and Tron. In the future, we will expand more ecological cooperation partners.

"To put it simply, we want To be the" Steam "for blockchain applications."

"Simply put, we want to be the Steam of the blockchain world."

AMA - Blocto community

In addition, Blocto nicely encapsulates the identity SDK and payment SDK for developers, making it easy for other DApps to directly access Blcoto's functionality.

1. Document: https://docs.blocto.app/

2. Blocto developer communication: https://discord.gg/H34KZqF

Start with the wallet, not just the wallet

In addition to continuing to refine and build on the original wallet, Blocto will continue to grow four products in the future:

1. Decentralized exchange & NBSP already online; Blocto Swap: The first Dex built on Flow, with a cumulative volume of since its launch; Ten million dollars. Very impressive.

https://swap.blocto.app/#/swap

2. Blocto Balancer (Cross-chain Automated Market Making Protocol)

3. Blocto Auction House

4. Blocto Vault (Decentralized Revenue Sharing Pool)

Among other things, Blocto Vault enables a BLT holder to destroy a BLT in exchange for an equivalent asset in the Blocto Vault.

Through the economic

Blocto Token ($BLT) is Blocto's functionality and governance token, which is the foundation of Blocto's ecosystem and an important link between Blocto's wallet, its products, and its users. With the BLT, users can easily interact with the chains supported by Blocto without having to use the native tokens of each chain.

,Total: 500 million

,Initial Issue: 30 million (6% of total)

,Mining bonus: 25%

,Mortgage bonus: 5%

,Ecological Acceleration Fund: 16%

,Community and ecological development: 16%

,Public offering: 2% (community round 1%, public round 1%)

,Private placement: 16% (monthly linear release starting from month 7 for 18 months)

,Team Building: 6% (monthly linear release starting at month 7 for 18 months)

,Founder's team: 14% (monthly linear release starting at month 7 for 42 months)

All BLTs will be fully in circulation by the end of the fourth year after they start circulating.

The core team

Blocto was developed by a Taiwanese team of 20+ people called Portal Technology Portto, which was founded in 2019.

Financing situation

Blocto closed an $8 million private funding round in May, with YBB backing it. Other investors are: Sevenx Ventures, Alameda Research, Roham, CEO of Dapper Labs, Richard Ma, CEO of Quantstamp, Joseph DeLong, CTO of Sushiswap, founder of Rally Kevin Chou, etc.

conclusion

The value of a wallet depends on the public chain behind it and the people that the public chain empowers.Blocto's choice to prioritize integration with the Flow public chain is a wise one, as the unique characteristics of the Flow blockchain make it particularly suitable for consumer facing DAPPs. Compared to Ethereum, Flow provides a better scalability mechanism without sacrificing decentralization, a necessary improvement for mass market adoption. In addition, more and more NFT projects on the Flow chain, such as Viv3.com and Motogp Ignition, are integrating Blocto Wallet services, and Blocto's support for NFT collections on Flow will also increase its growth.

Currently Blocto is integrated with the Flow public chain and is online in the Flow test. Flow dApp developers can integrate the Blocto wallet service with two simple lines of code through the FCL wallet protocol.

The Blocto project is still in its early stages, with many features still being developed and refined. It will be interesting to see if it can help users explore the crypto world with superior UI/UX and realize its vision of becoming the Steam platform for Web3 applications.