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Mocaverse and Realm Network: The Wallet Revolution Reshaping the Web3 Ecosystem
Mocaverse and the new Wallet ecosystem reshaping the Web3 environment
The widespread adoption of decentralized applications has long faced significant challenges in accessibility and user experience. Even with account abstraction technology, smart contract wallets still face limitations in asset portability. Generally, assets in wallets using the ERC-4337 standard can only be used within specific applications. However, an innovation called Realm Network is changing this situation.
Realm Network is a decentralized application network that features a built-in native Wallet functionality, allowing tokens and NFTs to flow seamlessly across the network. This groundbreaking portability significantly enhances the capabilities of applications utilizing account abstraction technology.
As a key component of the Moca Network ecosystem, Realm Network serves as an interoperable infrastructure layer that connects Web2 and Web3 platforms. It encompasses applications across various fields such as gaming, music, sports, intellectual property, and education, all of which share the same economic system. With features like Realm account, Realm ID, and Realm points, users can access multiple applications with just one smart contract Wallet, while decentralized identity (DID) is responsible for managing identity and on-chain reputation tracking.
The case of MocaID fully demonstrates the potential of the Realm Network. Since its launch in November 2023, MocaID has achieved nearly 1.5 million unique on-chain mints in just six months, quickly becoming a rapidly growing platform within the Mocaverse partner network.
Realm Network adopts a new type of Wallet ecosystem, which allows it to overcome the limitations of traditional account abstract Wallets. With the help of Multi-Party Computation (MPC) technology, Realm Network achieves cross-application smart account interoperability. Users can generate the same Wallet address using familiar social login methods (such as Gmail), thereby enabling seamless asset ownership and credential persistence across multiple domains.
In this system, every Realm Network user can obtain a unique digital identity—Realm ID—through social login. This identity not only provides privileged access but also allows the accumulation of Realm points (loyalty points), the establishment of reputation, and the earning of assets that can be used in various applications within the Realm network.
This innovation brings a series of exciting possibilities:
Portable identity and assets: Developers can easily integrate Realm ID into their applications without the need to start from scratch to find qualified users.
Loyalty and profile scoring: Decentralized platforms can leverage existing communities in the network and use Realm points to reward active users.
Permanence and Liquidity of Assets: Users have complete control over their smart accounts and can freely transfer and trade the assets they earn.
This wallet ecosystem is not just a tool, but a catalyst for building cohesive communities and composable applications, helping to unify identities and assets across various blockchain applications.
By implementing multi-party computation technology, Realm Network also prioritizes user accessibility. Users can access their Wallets through familiar Web2 login methods (such as Google or Twitter), thereby lowering the entry barrier and creating a more inclusive Web3 experience.
In addition, multi-party computation key management enhances the security of users' digital assets. Since the access permissions for the keys are distributed among multiple parties, this reduces the risk of single points of failure and unauthorized access, thereby boosting user confidence and encouraging more people to participate in decentralized applications and financial services.
The combination of Realm Network and the new wallet ecosystem is redefining user-friendly applications in Web3. It not only provides users with a seamless on-chain experience but also offers tremendous opportunities for application developers who wish to connect the decentralized economies within their ecosystems. As this technology continues to evolve, we can expect to see more innovative use cases and new possibilities for cross-application interactions.