The concept of a wallet is deeply entrenched in the culture of cryptocurrency, investing, trading, DeFi, Web3. It is a requirement for participation, after all, but that requirement grants an abundance of freedom in managing both personal finance, and social interaction.
Very interesting post!
After reading the article, I’d go as far as calling it a metaverse passport.
Yeah really! A wallet encompasses a mere wallet
Cool post. “wallet” was always a placeholder name to make the concept of a cryptographic assets accessible to a wider audience.
I wonder about the problem of people attaching things to your wallet even if you didn’t approve of it or know about it. As in, in the NFT world, influencers get spammed by new projects they don’t know anything about and if someone looks at their “wallet” on opensea then they will see all sorts of projects the influencer does’t back. Some influencers even make disclaimer posts because they know traders will watch their wallet for the next “big” project? OK…so you could make some sort of oracle that says which transactions were initiated by you but then that’s talking about centralization again. Just some things to think about. I am very interested in how we work through identity in web3 going forward.
Basically it’s just a message “attached” to your public keys. So no worries, as it works like intended.
Much wider problem is how this all is perceived. Wide audience habits. And this one is much bigger than wallets.
The issue is that anyone can just essentially write your address down on their contract saying that you own some asset. Then, that’ll get indexed by a metaverse so to speak. The way things are widely handled now, your profile would include that thing that some other person said you owned, even if you have no knowledge of it. That’s not so important currently bc most of that stuff is just harmless junk but if you start viewing your address as a profile meant to say something meaningful then users could feel like they are being mischaracterized or don’t have dominion over their identity. I can think of ways to solve this but the trick is to execute them in a decentralized manner.
For decades the solution is to check the signature. If the private key is compromised then there are all kind of worries. Else the correct indication rely not on public key, but on private.
PS This topic starting to look like an attempt to protect usage of a person name instead of protecting authenticity of his signature. Maybe it’s sane in the world which wage the war on misinformation, but quite absurd otherwise.