Wallets are essential to achieve mainstream adoption of blockchain technology.
Crypto custody is a rapidly evolving space and a topic of increased focus given industry events, and the influx of new market participants into crypto over the past couple years.
Understanding how wallet accounts work is essential to securing your funds.
Wallets rely on complex record-keeping, connective, and cryptographic processes to interact with the blockchain.
Wallet options are differentiated by the unique ways in which they store private keys, connect to the internet, and sign transactions.
Current wallet options face a tradeoff between convenience and security.
There must be varied wallet options to meet the needs of a heterogeneous set of users in a decentralized system.
Trends point to developers mitigating the convenience vs. security tradeoff and enhancing the functionality of current wallet options.
Wallets: A Deep Dive into Crypto Custody
Binance Research (Mac Naggar)
Jan 20th, 2023