Introducing Dappy Wallet

The application for Blockstack and ShapeShift decentralized wallet Bounty

Eugene Ive
Jun 29, 2018 · 5 min read
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We are a group of blockchain enthusiasts with a huge background in software development and product management. We have a distributed team across EU and Russia. At the moment we have experts from IT, fintech, the blockchain, security, marketing, design, UX/UI in our team.

We have in our portfolio a light wallet project, decentralised ERC-20 tokens exchange, custom blockexplorers.

Based on that experience, now it’s more clear that open source projects are preferable for the crypto community. We’ll be glad to take part in the Blockstack and ShapeShift contest. We’ll bring our experience and skills to bring to the community open-sourced approach of the universal wallet. It will be more accessible and secure than even existing ones because of Blockstack decentralised features, more easy-to-use and more reliable. It will be a light wallet with decentralised storage and login.

As a team of crypto enthusiasts, we believe in decentralized approach and anonymity as a key feature of blockchain technology overall.

Wallet building principles and motivation

We are guided by several core principles:

The community support is the key factor to get success for the blockchain product, especially for the wallet as a tool for managing the cryptocurrency assets. We believe that only decentralized and open sourced solutions are driving the development of blockchain community services.

Blockstack features for the wallet authorization, storage and encryption are the way how to build decentralized wallet with decentralized storage. It’s the guarantee that the wallet is non-custodial and the developer doesn’t proceed with the customer private keys.

We’ll do our best in UX to build the wallet useful and having intuitive clear interfaces. The wallet interface is one of success key feature and we are considering it as a way to get the audience and traffic to the new wallet. We are going to keep existing traditional patterns for the crypto wallets, so the users will not be confused with the new wallet. We need to make the product usability better than existing ones.

We do not need to use KYC or collect customers data as far as we don’t touch users coins.

We never touch customers funds. The wallet uses simplified payment verification libraries to operate with crypto, all transactions are signed on the user’s side and are secured. The wallet developer is not able to see or change the transactions payload. The customer is only the one person who manages his\her keys himself.

Technical Approach

The wallet is the web application that allows a customer to perform all operations secured in the web browser.

We are developing decentralised wallet that assumes that:

The wallet uses the dapp Blockstack ID for the wallet Authentication.

The customer will be able to manage the blockchain wallets:

The restored wallet private key will be stored securely in Blockstack Gaia Storage using additional encryption using transit key.

The wallet assets-related functions are:

Tokens

We are going to support tokens following ERC20 and Omnilayer specifications. Some predefined amount of tokens will be available in the wallet. The basic operations will be supported:

The customer will be able to add the custom token that will be available for the rest of the wallet audience.

Security considerations

Security is our priority. The decentralised wallet approach itself is our vision for the secured blockchain wallet. The customer private keys are the most important and sensitive aspect. In our opinion, we are developing one of the most reliable and secure tools for the customers to use the private keys.

The open-sourced approach guarantees that almost everyone can be sure for 100% for the application transparency.

Principle schema of the application

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Team background and qualifications

Evaluation plan

We have quite tiny and reasonable schedule for the wallet implementation. The distributed team with a varied range of professionals gives us the ability to launch in the parallel main project phases: planning, UX prototyping and UI, core development.

We are using the agile approach with continuous delivery, so in any time of moment, we are ready to present our progress and performance to the Contest Judge.

Evaluation plan before Contest submission deadline (25th of June 2018):

Evaluation plan for July-December 2018:


You’re welcome to leave feedback/comments for BC Net team here.

Our social

Twitter / Reddit / BitcoinTalk / Medium

GitHub

BCNet / App (open source code)


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Dappy Wallet

Dappy Wallet is a light universal wallet with decentralised…

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