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Why can’t wallets synchronize (why do wallets have consumption records from others)

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Why Wallet Cannot Synchronize

Why Wallet Cannot Synchronize Editor’s note: This article is from BlockBeats (ID: BlockBeats), reprinted with authorization by Daily Planet Daily

In the field of Cryptocurrency, wallet is one of the most important tools, but if you have a smartphone, you need to connect your wallet to synchronize it with WalletConnect. Why can’t Wallet synchronize? If you want to bring the WalletConnect application to the Ethereum main network, you need to link the smart contract to the desktop, and then click “Confirm”. Once users verify their digital assets through the “signature” function in their wallet, they will receive a new private key. In this way, the user’s password can be restored So the question arises: why can’t non tokenized applications be synchronized? Because most blockchain projects have a common feature that is security:

1. Due to insufficient data storage capacity in Bitcoin networks Due to the limited network capacity of Bitcoin and the inability to ensure data availability, most blockchain projects take security measures to maintain the authenticity, effectiveness, and integrity of transactions When the price of Bitcoin increases, node operators can often utilize these resources to achieve faster processing and higher computing power, while reducing costs When the price of ETH drops or other unstable factors occur, we can improve fund efficiency by accessing databases or internal servers through external devices to view account balance and other information; At this point, the attack method is to use a hardware controller to detect the presence of double flower and hacker behavior, as well as how to prevent malicious software from invading the system, in order to achieve the goal of protecting privacy. But this solution is not entirely reliable

At present, the most famous two-layer expansion scheme on the market is Lightning Network. The Lightning Network is mainly composed of two types: one is one-way channel, the other is cross link bridge, and the third is two-layer solution running in the main network; The third is sharding, which means that every update will be executed from the side chain first, which means that all upgrades will go through the main network

The advantage of Lightning Network is that it can support transfer and deposit in two states at the same time. The first mechanism is the L2 expansion scheme zkRollup on Ethereum. This protocol allows smart contracts to directly interact with the main network without the need for any centralized third-party participation, thereby eliminating the need for support for the second chain

In addition, the advantage of Lightning Network’s scalability is that it not only provides a better technical architecture, but also provides a very powerful framework for other two-layer networks. In addition, Lightning Network itself has certain flexibility advantages, so the design of Lightning Network is also based on Ethereum

Why do wallets have consumption records of others

According to Coindesk, credit or debit card payments (through bank accounts and mobile phones) or consumption records can be used in wallets. But if no user has sufficient consumption records for them, the wallet will default to not accepting this transaction information. Because the payment is made through WeChat instead of Alipay, the wallet will not be able to receive their funds, which means that when you remit money to another person, it may be charged. Why do others need a wallet?

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