Vitalik discusses wallets : RenVM Wallet 2021?

In this article, Vitalik discusses the need for a better wallet, it has been mentioned by the Team at some point we will be able to host a RenVM wallet that supports all chains, all tokens, and this might even work well for future hardware wallet companies like Trezor, Ledger, etc

Topics Discussed

  1. Multi-Sig Good
  2. No Single point of failure
  3. Low Mental Overhead
  4. Maximum ease of transacting
  5. Social Recovery Concept
  6. Optimism Rollups ZK rollups

Surprised this hasn’t got more attention. There’s several new chains (polkadot, avalanche) that are trying to solve an ‘interoperability problem’ that isn’t there when well designed wallet software and wrapped coins are available. People are resistant to sending coins between chains/networks, partly because you can’t do this without new private keys. But good software can generate keys on multiple networks seamlessly, securely, with ‘social recovery’, and with recovery from the same seed. New wallets with a ‘switch network’ function next to ‘send’ and ‘receive’ would help adoption of both wrapped tokens and L2s. For Example:

Balance: 1BTC; secured on Ethereum; guarenteed by WBTC
(x)Switch network

(x)Optimism rollup
()ZK rollup

[You have chosen to switch to Optimism - this grants access to low fee trading - return your BTC funds to the Bitcoin network via RenVM for enhanced security]


I would love to see wallet solutions on top of renVM, the latest update from the team indicated there will soon be enough infrastructure to build these things but its still a bit early now. I guess nothing stops an independent project from developing this in parallel though.


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