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Meet the Phantom: The future of multi-chain wallets

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The Phantom is already the wallet of choice for Solana engagement. Next, Phantom will introduce support for ethereum and ethereum-based Layer2 and side chains.

Understanding Phantom: The Future of Multi-chain Wallets

Source: Solana Hub

Wallet apps are essential for us to enter the world on blockchain and decentralized chains. As one of the infrastructure of the public chain, a fully functional and secure wallet application is critical, which often determines the operational experience when we interact on the blockchain.

Solana also needs a good wallet app. Many people complain about the Solana chain experience. We can participate in most public chains through very mature wallet apps like Metamask and switch easily, but if you want to access the Solana chain ecology, We need to download a separate wallet app and re-register to participate in Solana's on-chain ecology. At the same time, as Solana's underlying technology and ecology grow and mature, and new applications continue to take root on Solana, it is also critical that the product logic and performance of on-chain wallet can keep pace with the development of the public chain.

Here's a look at Phantom, one of the few wallet apps that supports both Solana and ETH dual-link. Phantom just completed a $9 million round of financing led by A16Z and Solana Foundation on July 14.

Understand the Phantom

Phantom is a browser-enabled wallet application that can be used to manage digital assets and access decentralized applications on Solana's blockchain. The Phantom app can be installed on Google Chrome, Microsoft Edge, Brave or Firefox, and will be available in separate iOS and Android versions in the future.

Phantom works by creating and managing private keys on behalf of users, allowing them to store money and sign transactions. Its extension injects Solana objects into the javascript context of every Web application that the user accesses, and the application can interact with the wallet through the injected objects, such as requesting permission to perform transactions. So the Phantom has everything you need to cross the Solana ecosystem, including: token swaps, collecting NFT and collectibles, connecting hardware wallets, not being monitored, Web3.0 support, and pledging SOL for revenue.

The Phantom is already the wallet of choice for Solana engagement.

The team advantage of Phantom

The Phantom team is made up of designers, engineers, and former founders who have spent the past four years pushing the boundaries of decentralized transactions and blockchain application development. Phantom's co-founding team includes CEO Brandon Millman, CPO Chris Kalani, and CTO Francesco Agosti, all from crypto infrastructure startup 0X.

With the success of the 0X, the Phantom team has made good progress in building the product. So far, the Phantom wallet has garnered more than 40,000 users.

The Phantom's development plan

The ambitions of the team and their product, the Phantom, don't stop there.

As mentioned above, Phantom closed A $9 million Series A round led by Andreessen Horowitz (A16Z) on July 14, Variant Fund, Jump Capital, DeFi Alliance, Solana Foundation, and Garry Tan.

After raising the money, the Phantom team decided what they wanted to do next:

Phantom wants to build a more sophisticated DeFi mechanism into the wallet, allowing users to pledge cryptocurrencies and exchange more tokens within the wallet;

Continue to improve the Solana experience by adding in-wallet mortgages, integrating more markets and liquidity into in-wallet exchanges, more entry options, mobile apps and adding a seamless Solana/Ethereum bridge.

Phantom aims to connect to a growing number of networks and is currently building compatibility with Ethereum and looking to embrace other blockchains, aiming to build a "multi-chain world" on the wallet ecosystem. Next, Phantom will introduce support for ethereum and ethereum-based Layer2 and side chains.

Phantom Use Tutorial (Chrome example)

Open the Chrome Web Store, search for Phantom, and click 'Add to Chrome' to install Phantom.

Click create New Wallet.

Write down and save your "secret recovery phrase" in a safe place, as this is the only way to recover your wallet. Please don't give this secret sentence to anyone under any circumstances. It's like giving someone the password to your bank account.