Security risks with WalletConnect?

Test on https://example.walletconnect.org/ With Trust Wallet

If it is safe, we should consider to add this feature.

Yeah it’s a standard that enables the same UX of login with WeChat. Very good concept to bridge between mobile and web or even as an additional security step.

Reposted from a related Telegram chat:

hboon:

“Now visit any of the dapps that have integrated with WalletLink (listed below, with more on the way)”

This is also how WalletConnect works, right? The Dapps has to explictly support WalletConnect/WalletLink.

What I suggested earlier was to build an extension like MetaMask, but instead of holding the wallet keys in the extension, delegate that (and signing) to the mobile apps.

Dapps don’t have to do any work to add support.

(I haven’t thought through this completely, but it sounds like it would work).

Victor:

Yes, yours is better for DApp dev but not good UX for user, they have to install one more extension

hboon:

Ah, right of course. But the pitch would be, “You already have our mobile app. Now, Install 1 browser extension and you can access any dapp with it”.

Yes, similarly for other wallet apps. It seems so much harder and fragile to get each Dapp to add support. web3 itself is already quite fragile.

Coinbase has been pushing their own standard, WalletLink.

How does it compare? They have it open-source. Both allow connect and sign transactions, with WalletLink also allowing multiple and also persistent connections with dapps that users don't need to sign in again all the time.

(Article) New Coinbase Product Links Mobile Wallet With Dapps

Coinbase created WalletLink to connect its mobile wallet with dapps on desktop browsers. The goal is for Coinbase wallet users to use decentralized applications more easily, without having to copy and paste addresses or use browser extensions.Users will scan a QR code that will connect their mobile wallet with integrated dapps, and they’ll confirm transactions via a ping on their phones.

Some were quick to point out that WalletConnect offers the same service and works with any wallet, to which Coinbase employees responded that their product is open source and for everyone to use, and that they tried to make it easier to integrate than WalletConnect. Competition usually helps a free market, and Coinbase has 30 million users, so the news is likely positive for the space.

User flow