Celo & dWallet Network Integration

Published on: 09.05.2024
Celo & dWallet Network Integration

dWallet Network has announced its integration with Celo. This collaboration empowers developers within the Celo ecosystem to create DeFi applications that work seamlessly across multiple blockchains. dWallet’s technology offers unique advantages for Celo, making it an ideal environment for developers.

dWallet: Programmable Building Blocks for DeFi

dWallet offers a revolutionary building block for DeFi. It allows developers to control any asset and enforce specific rules across any blockchain network. The key lies in dWallet’s use of cryptographic signatures, which are indistinguishable from those used by regular users on a network.

This unique feature enables dWallet’s logic to extend even to non-smart contract networks like Bitcoin. It essentially adds programmability while upholding core Web3 principles like decentralization and user control. dWallets represent a significant step towards a more user-friendly, interconnected, and adaptable blockchain infrastructure.

Unlocking Multi-Chain Transactions

With dWallet integrated, applications built on Celo can now directly sign transactions for other networks like Bitcoin, Ethereum, and Solana using the ECSDA signature scheme. Support for additional signature schemes like edDSA and Schnorr is also planned for the near future.

This integration essentially allows Celo users to directly access various cryptocurrencies like Bitcoin, Ethereum, and Solana. It brings increased security and programmability to the Celo ecosystem, all facilitated by dWallet’s decentralized, multi-chain layer. This is just the beginning of the possibilities unlocked by this collaboration.

About dWallet Network

dWallet Network serves as the foundation for dWallets, offering a composable modular signature network. dWallet, within this network, functions as a highly decentralized signing mechanism devoid of collusion, serving as a fundamental component for developers across various networks. Its primary purpose is to seamlessly integrate native multi-chain interoperability into smart contracts, enabling builders to enhance the functionality of their projects.

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About Celo

Celo is a Layer 1 blockchain compatible with Ethereum Virtual Machines (EVM) and is transitioning to become an Ethereum Layer 2 solution. This mobile-first network boasts a thriving community of developers creating mobile-centric solutions for decentralized payments, especially in regions with high crypto adoption rates. The upcoming shift to Ethereum L2 will further enhance Celo’s seamless compatibility across different systems, which dWallet’s network support will further strengthen.

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Source:

https://dwallet.io/blog/dwallet-celo-partnership

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