Let’s begin the new year with a fantastic upgrade in Dopamine App: the much-awaited Solana and Avalanche wallets are now added to your Wallets section. Solana and Avalanche belong to the most popular and innovative ecosystems we have today. It will now be more accessible and convenient for you to explore the NFT and DeFi space.
Let’s brush up a little bit on wallets first!
The Solana and Avalanche wallets and their function
If you’re new to the crypto world, here’s a short introduction to wallets and their functions. As you may know, crypto wallets allow you to store and transfer cryptocurrencies. Wallets also keep a detailed record of all your transactions including deposits, withdrawals, swaps, etc.
Wallets are operated by a set of keys which are a series of alphanumeric codes. These include a “Public Key” and a “Private Key” for your convenience.
The Public Key works like a bank account number that can be shared with others for transactions and transferring funds. Whereas, the Private Key, as the name suggests, is similar to a password, and it is used to access your private records. A Private Key ensures the safety of your records, but you have to be extremely careful to maintain its secrecy.
With the NFT boom, Solana tops among the most sought-after blockchains currently. Here are a few good reasons to use this wallet.
- It has top DeFi projects, best lending protocols, DEXs, NFT marketplaces, top Web3 apps, and a lot more.
- With over 400 projects on top, Solana is considered a futuristic ecosystem.
- Solana-powered wallets are also highly popular due to their high security and speed of transactions.
- Its native cryptocurrency Solana (SOL) ranks fifth as per market capitalization.
- It can process 50,000 transactions per second (TPS) which is the fastest of all.
- Its average cost per transaction is cheapest awith an average of $0.00025
Avalanche Ecosystem is one of the fastest-growing ecosystems and here are a few reasons why you should use this wallet.
- Over 411 DeFi projects were registered with it in the past one and a half years.
- Avalanche skyrocketed to a 1,500% increase in 2021 and ranks among the tops DeFi protocols with around $2.8 billion total locked value.
- It has high speed and transparency in transactions (5000/TPS speed, much higher than Ethereum and Cardano).
- Avalanche uses the Proof of Stake (PoS) mechanism, which reduces energy consumption and its maintenance cost.
- With its climate-friendly approach, it is highly preferred for real-world adoptions. (E.g: Recently finance consulting giant Deloitte adopted it for its eco-friendly credentials.)
- This network operates on three interoperable blockchains that provide the best scalability (capacity to handle a large number of transactions).
- It provides transaction services at a low cost (around 0.001 AVAX).
- Using Avalanche, you can trade cryptocurrencies, buy NFTs, dabble in yielding and even manage your portfolio through the various protocols available on this ecosystem.
How to access the Solana and Avalanche wallets in Dopamine App
When you are in Dopamine App, the first thing you need to do is to find and click on the extreme right icon at the bottom.
- Select the middle option “Wallets” on the top.
- You will see a list of wallets.
- Scowling down to the bottom, you will see the Avalanche wallet and the Solana wallet.
How can I upgrade my account to include Solana and Avalanche?
If you’re already using Dopamine App, you can get all the wallets under the Wallet 1 icon. To reach this option, you simply have to click on the green icon in the top left corner of your screen.
You will get the above screen and the Dopamine App wallet icon. Clicking on this option will let you access all the existing wallets in Dopamine App including our latest additions: the Solana and Avalanche wallets. Now you’re all set to use your Solana and Avalanche wallets!