Trust Wallet

Trust Wallet is an innovative crypto wallet that provides a reliable and convenient solution for storing, managing and exchanging cryptocurrencies and tokens. Created in 2017 and later acquired by Binance, Trust Wallet is renowned for its security, intuitive interface and NFT support. The key feature is the storage of private keys directly on the user's device, providing a high level of protection.

How does TRUST WALLET work?

Trust Wallet acts as a secure bridge between different blockchain networks, each of which has its own unique addresses for storing cryptocurrency assets. These addresses, also known as public keys, serve to receive and send cryptocurrencies.

It is important to note that Trust Wallet does not store user cryptocurrencies on its servers. Instead, it gives the user access to their wallet, which is stored directly on their device. This means that only the owner of the device has access to their private keys, which increases the security of funds.

The application provides an opportunity to carry out various operations with cryptocurrencies. This includes sending and receiving funds, exchanging cryptocurrencies for other assets, as well as participating in the crypto-staking process, which allows you to earn rewards for participating in the support of the blockchain network.

Trust Wallet does not charge a fee for using the application, and all gas commissions that are associated with transaction processing go to validators or miners of the blockchain network. This ensures transparency and fairness in the work of the system.

In general, Trust Wallet provides users with a convenient and secure way to manage their cryptocurrency assets by connecting different blockchain networks and providing access to key cryptocurrency transactions.

History of Trust Wallet creation

The history of the creation of the Trust Wallet crypto wallet goes back to 2017, when Ukrainian software developer Viktor Radchenko began exploring the world of cryptocurrencies. Inspired by the potential of Ethereum, he decided to create an innovative tool for managing crypto assets. Starting with mobile parking tracking apps, the success of this project pushed Victor to a new challenge.

The Trust Wallet project has become a reality thanks to Victor's desire to make cryptocurrencies more accessible to everyone. In 2017, he started working on the development of a convenient and secure crypto wallet. The functionality of the wallet with support for ERC-20 tokens has attracted a large number of users who are passionate about the idea of investing in a variety of cryptocurrencies.

The combination of a simple interface and a high level of security has become the foundation of Trust Wallet. This crypto wallet grew in popularity, and its significance did not go unnoticed. In 2018, the large cryptocurrency platform Binance decided to acquire Trust Wallet, seeing it as a strong addition to its ecosystem. This partnership has confirmed the importance and potential of the Trust Wallet crypto wallet on the global cryptocurrency scene.

dApps Browser in Trust Wallet

The dApps browser is an important and unique feature provided by the Trust Wallet application. This built-in browser is designed specifically so that users can conveniently interact with decentralized applications (dApps) directly from their wallet. Instead of having to switch between different applications and browsers, users can easily use dApps directly from Trust Wallet.

The key idea of the dApps browser in Trust Wallet is to provide a simple and convenient experience that is close to the well-known Metamask, but specially adapted for mobile devices. This feature allows users to participate in a variety of blockchain ecosystems, including staking, cryptocurrency exchange, access to NFT markets and other dApps that provide various cryptocurrency services.

Since the world of dApps is constantly evolving, Trust Wallet provides access to a wide range of projects running on different blockchains, especially Ethereum. This includes DeFi financial instruments, gaming applications, NFT collectibles platforms and much more. The Trust Wallet team thoroughly tests and verifies new dApps to ensure their safety and quality before integrating into the application.

TRUST WALLET Token (TWT)

Inside the Trust Wallet ecosystem, there is its own managing token called TWT (Trust Wallet Token). This token was created for the purpose of educating and attracting users to the world of cryptocurrencies. Originally, TWT was distributed for free among those who invited friends and acquaintances to use the application, and did not conduct an ICO/IDO. Currently, its cost is approximately $0.70.

Initially, the amount of TWT was huge - 90 billion tokens, but later this number was reduced to 1 billion by burning the surplus. The distribution of tokens has the following structure: 40% is intended to attract new users, 15% is for developers, another 15% is for the TWT community, and 30% is for reserve stores. It is noted that this token is not intended for the development team.

The TWT token successfully fulfills its role as a managing token. An example of this is a user vote on the integration of support for the Filecoin token (FIL) into the wallet. More than 96% of participants voted for integration, which led to the successful launch of Filecoin support in Trust Wallet just a few weeks after the vote. This voting mechanism demonstrates TWT's ability to influence the development of the application and the inclusion of new features.

Storing NFT in TRUST WALLET

Trust Wallet offers an amazing opportunity to store and manage non-exchangeable tokens (NFT) right inside its application. This feature is one of the key features of the wallet. Users can easily create their own NFT gallery on Ethereum and Binance Smart Chain (BSC) to view, manage and interact with their digital collectible assets.

Trust Wallet support for the ERC-721, ERC-1155 on Ethereum and BEP-721, BEP-1155 on BSC token standards opens the door for a variety of NFTs. Users can easily access decentralized applications (dApps) through the built-in dApps browser or using WalletConnect. This means that users can bet on NFT to generate income, participate in NFT-farming and other decentralized financial transactions without leaving the application

For those interested in the world of digital art and collectibles, Trust Wallet also provides an opportunity to connect to NFT markets. Here users can both mine and sell their NFT. The NFT management system inside Trust Wallet focuses on simplicity and convenience, providing users with a means to fully participate in the rapidly developing world of non-interchangeable tokens.

Hacking TRUST WALLET

Today, Trust Wallet is considered one of the most reliable software wallets on the market. However, despite the high level of security, it is impossible to exclude the possibility of hacking. Hacking can occur due to a variety of factors, including social engineering and software vulnerabilities.

To protect your funds and data, it is recommended to follow the basic security rules. It is important to use complex passwords and activate two-factor authentication for an additional layer of protection. It is also worth regularly updating the Trust Wallet application to the latest version to avoid vulnerabilities that could be fixed in new updates.

If there are suspicions about hacking or compromising your Trust Wallet, the best step is to immediately transfer your cryptocurrency assets to a new wallet. It is also important to check all the devices that you use to access your wallet for viruses or malware. Ensuring security is actively involved in protecting your digital assets, and following these simple measures can help minimize the risk of hacking.

Security

Trust Wallet stands out for its focus on privacy and user data protection. He does not require KYC confirmation during registration, which underlines his commitment to keeping personal information confidential. In addition, the ability to store private keys directly on the device, and not on servers, complements the security level.

It is important to note that users can additionally secure access to the wallet by enabling fingerprint or template blocking. Nevertheless, despite the high level of security, you should remember the need to carefully store your private keys and recovery phrases. In case of loss of this data, access to the wallet may be lost beyond recovery.

The combination of measures taken by Trust Wallet to ensure security makes it an attractive choice for storing cryptocurrency assets. The wallet aims to provide users not only convenience, but also confidence in the safety of their funds, which is a fundamental aspect in the world of digital assets.

Conclusion

So, Trust Wallet research leaves a positive impression about the wallet. It shows a high level of reliability and security, which is a key factor for storing digital assets. Admires the fact that Trust Wallet does not require KYC confirmation and does not store personal data of users, while providing the possibility of local storage of private keys for additional security.