Bitcoin has undoubtedly had a significant impact on the cryptocurrency industry. This not only revived the entire sector but also led to the establishment of an alternative financial system.
Its significant market value speaks for itself. Additionally, Bitcoin has been making waves in areas such as NFTs on blockchain and programmability, attracting the attention of many.
Due to these continuous developments, managing Bitcoin assets across multiple platforms has become a challenge for users. This challenge prompted Wallby to take action and develop an innovative portfolio management system.
This system aims to help users keep their Bitcoin holdings safe on various platforms. Alexandre Olivothe BDO and product manager at Wallbysharing knowledge about this exciting development at the Bitcoin Amsterdam event.
Why Wallby
From the beginning, Alessandro made it clear that Wallby is fully dedicated to Bitcoin and its ecosystem. With experience in Bitcoin dating back to 2013 as a researcher and educator, he has expressed a strong commitment to raising awareness and awareness of Bitcoin.
He explained that Wallby is a unique project with two key concepts: it serves as an all-in-one wallet for Bitcoin and aims to become a super app for Bitcoin.
Wallby’s all-in-one wallet allows users to manage various assets from different Bitcoin-based networks, such as Bitcoin’s main chain, Liquid Network, and the Ethereum Virtual Machine (EVM) on Rootstock.
Additionally, Wallby plans to support the Lightning Network in the future, demonstrating its dedication to Bitcoin scalability solutions.
The development of Wallby
He shed light on the project’s birthplace at BeCademy, a company focused on Bitcoin education and services.
However, due to the lack of a comprehensive Bitcoin wallet solution, Wallby came into being. The project was shaped by experienced people deeply involved in the Bitcoin community.
Additionally, he revealed that Wallby is exclusively funded by its founders, demonstrating their unwavering dedication to both Bitcoin and the success of their product.
By forging strong alliances and fostering collaboration with prominent figures in the Bitcoin field, such as Blockstream and IOV Labs, Wallby is preparing for a future full of potential.
Wallby’s development phase lasted approximately eight months, culminating with the open beta for Android in July 2023.
Features and future plans
Additionally, according to the BDO, Wallby offers users a unique feature: “full viewing of NFTs on the Liquid Network,” which is rare for a web3 mobile wallet. Additionally, users can perform various actions on Wallby, including swaps, providing liquidity, and getting a return on provided liquidity.
Additionally, the public was informed that the full version of the wallet would be released within 12 months. This release aims to simplify the process of moving bitcoins from the main chain to layers one and two.
Although Wallby is already available on Android, the team is working on launching the iOS version. Wallby also wants to integrate with Boltz, a solution that allows users to transfer funds between Bitcoin, RSK, Liquid and the Lightning Network using the Lightning Network.
Additional developments include the incorporation of a Fiat gateway, allowing users to effortlessly switch between conventional fiat currencies and cryptocurrencies.
Additionally, there are plans to create a comprehensive “super app” offering a diverse range of Bitcoin-based products and services, as well as integrating a full DeFi suite on the Bitcoin platform.
