The NEAR Wallet Is Going Away, But MyNearWallet Is Here to Stay
We are about to embark on a transition journey. The NEAR Wallet time is about to end and other wallets will get a new life, so there is no need to be sad about it. Buckle up and prepare for an exciting ride with MyNearWallet. It’s going to be so much fun!
What’s going on?
It has been three months since the NEAR Foundation announced the redesigned multi-wallet portal would replace the official NEAR wallet. Despite changes to the transition terms, the NEAR Foundation remains committed to its plan and prepares its users for future updates. The transition is scheduled for the end of the third quarter of 2023, according to the updated timeline.
Why is it necessary to switch from the official wallet to another one?
Some people wonder, however, why the official wallet has to be shut down, and why another is necessary. NEAR’s growing ecosystem is diverse, with varying goals and user expectations. Therefore, there shouldn’t be “the one and only’’ wallet, but multiple ones tailored to meet different demands and desires. The result will be more outstanding products due to stimulating competition and motivation.
How to choose a new wallet?
While the transition for NEAR wallet users is mandatory, you can choose from a variety of projects. In case you are looking for something similar to the NEAR wallet, MyNearWallet could be the right choice for you. With its open-source codebase, MyNearWallet remains true to the original design of the NEAR wallet. The significant difference, however, is that MyNearWallet continues to add features and improve security, whereas the NEAR wallet is not because of the upcoming shutdown. Meanwhile, users of both projects can contact the MyNearWallet support team for assistance.
What is the connection between the NEAR wallet and MyNearWallet?
Members of the community wanted to know how the two projects are related. A special mention should be made of Kikimora Labs, home to several NEAR-related projects, and MyNearWallet. The Near Foundation granted Kikimora permission to reuse the existing NEAR Wallet codebase. However, the NEAR Wallet remains open-source and free to use.
How will the transition go?
In any case, the NEAR Wallet users will not lose their funds, regardless of which wallet they choose. The wallet.near.org website will soon have a banner letting users know about the transition. You can, however, transit your assets in advance. The following instructions will help you transfer your account to MyNearWallet.
Here is the transition roadmap:
Be prepared, stay cool-headed, and have your seed phrase at hand. Growth is always connected to change, as is the case with NEAR right now. Since the NEAR blockchain is designed to go beyond limits, a great deal more interesting projects will come to fruition soon. And we, the MyNearWallet team, are always here for you. We are stronger together!
