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Rise Glossary

What is a Web3 Wallet?

A Web3 wallet is a type of digital wallet that is specifically designed to interact with decentralized applications (DApps) on the Web3 platform. The Web3 platform is a decentralized network that allows users to interact with decentralized applications (DApps) and smart contracts without the need for a central authority.

Web3 wallets are often used to manage and store cryptocurrencies, as well as to interact with DApps and smart contracts on the Web3 platform. They provide users with the ability to securely store, manage, and interact with their digital assets and to participate in decentralized networks and applications.

Web3 wallets use public key cryptography to secure their users' digital assets and transactions. They typically provide users with a private key, which is used to access and manage their assets, as well as a public key, which is used to identify their assets on the blockchain and to receive transactions from other users.

There are many different Web3 wallets available, ranging from software wallets that run on a user's computer or mobile device to hardware wallets that store assets offline in a secure physical device. Some Web3 wallets are specifically designed to work with a particular blockchain or cryptocurrency, while others are more general-purpose and can support multiple blockchains and assets.