The popular Solana blockchain wallet is now compatible with two other proof-of-stake blockchains.
The firm asserts that users need access to a simple self-custodial wallet as a safeguard against centralized exchanges and data-processing corporations.
Phantom claims that it and Polygon collaborated closely to create a premium wallet experience and that it now has more than 3 million users.
Polygon Studios CEO Ryan Wyatt remarked, “The Polygon community has been expanding dramatically, and we are delighted to bring more individuals into the Web3 environment.” When connecting with applications powered by Polygon, “working with Phantom will enable us to provide a feature-rich wallet that is ready for mainstream customers to utilize.”
Agosti told Decrypt at November’s 0xpo Crossroads that his displeasure with the widely-used MetaMask wallet inspired him to create Phantom.
Agosti blamed his dissatisfaction with Metamask and the difficulty of creating user-friendly applications for the Ethereum blockchain on this issue. The question of whether or not transactions on Ethereum’s network can scale to accommodate millions of users has been “the elephant in the room” from the beginning.
According to Agosti, the team was convinced to build on the proof-of-stake Solana blockchain after seeing its speed, cheap cost, and scalability potential. Solana was widely regarded as an “Ethereum killer.”
Due to the Ethereum merging last summer, the second biggest blockchain, formerly a proof-of-work system, shifted to a proof-of-stake system, thereby ending Solana’s rule as the dominant proof-of-stake blockchain. It’s only natural that Phantom would evolve as time goes on.
Millman said that “self-custody is now more vital than ever” in all blockchain ecosystems and Web3 applications. The greatest user experience and security in the industry are only the beginning of what we’re bringing together for crypto users.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.