A Bridge between Blockchain and Decentralized Applications Web3 and Non-Web3 Crypto Wallets

Abstract

The Blockchain Revolution [1] is an illuminating, critically important manifesto for the next digital age.Blockchain and crypto have drastically altered the way people look at the Internet and finance over the years.DApps (decentralized Applications) are an interesting and socially important field that has emerged with the Blockchain revolution.In this paper, we discuss how Web3-based crypto wallet interacts with decentralized applications and how these wallets are different from Blockchain-based crypto wallets.Today, cryptos are considered an asset in this world, however, managing these assets seems to be a hassle.The paper will focus on different aspects of different wallets, both Web3 and traditional blockchain-based wallet (non-Web3), and understand the importance and functionality of each wallet.Finally, we will address the challenges and future aspects of these wallets in an increasingly decentralized network.The paper will revolve around crypto wallets and will explain how smart contracts act as a bridge between blockchain and decentralized applications.Furthermore, we will discuss how Web3 and decentralization can be a powerful tool for this world, if used ethically.