Sirwin
Sirwin

Wallet Wars! Ethereum vs Solana vs Aptos vs Radix

By Michael @ CryptoEQ | CryptoEQ | 15 Apr 2024


You are reading an excerpt from our free but shortened abridged report! While still packed with incredible research and data, for just $40/month you can upgrade to our FULL library of 60+ reports (including this one) and complete industry-leading analysis on the top crypto assets. 

67cbbf4723857b85c151585aa280e6d940346c501cef75bafd7dea02b44b24c9.png

Becoming a Premium member means enjoying all the perks of a Basic membership PLUS:

  • Full-length CORE Reports: More technical, in-depth research, actionable insights, and potential market alpha for serious crypto users
  • Early access to future CORE ratings: Being early is sometimes just as important as being right!
  • Premium Member CORE+ Reports: Coverage on the top issues pertaining to crypto users like bridge security, layer two solutions, DeFi plays, and more
  • CORE report Audio playback: Don’t want to read? No problem! Listen on the go.

 

Wallets

Ethereum's MetaMask is the industry's most commonly used digital wallet. Many users venturing into decentralized finance or collectibles often use MetaMask as their first point of interaction, given its wide adoption and integration across platforms.

MetaMask is a pivotal gateway to the Ethereum ecosystem. At its essence, it's a multi-dimensional Ethereum wallet that functions as a conduit between users and the Ethereum blockchain. With MetaMask, users can effortlessly manage their ETH, engage with many Ethereum-based tokens like ERC-20 and ERC-721, and fluidly interact with decentralized applications (dApps). Its design goes beyond mere wallet functionalities; it also serves as an interface for executing smart contract functions and dApp interactions. This dual nature of being both a wallet and an interaction portal makes it an invaluable tool for Ethereum.

The desktop version of MetaMask, available as a browser extension, boasts a minimalist and intuitive interface. Its design elements prioritize user ease, offering a clear view of balances, transaction histories, and token assets. Positioned conveniently at the top-right corner of browsers like Chrome and Firefox, it ensures users have swift access to Ethereum-based functionalities without needing a standalone platform. One of its standout features is the seamless dApp connectivity, where users can link their MetaMask wallet to various dApps, enabling immediate interactions without redundant logins.

In parallel, the MetaMask mobile application offers a more comprehensive experience tailored for on-the-go users. Upon launching the app, users encounter a neatly organized dashboard that succinctly displays their ETH balance, recent transaction activities, and a quick overview of token holdings. The mobile iteration has also incorporated QR code functionality, a feature that significantly simplifies asset transfers and dApp connections.

However, non-crypto natives may find storing large sums of funds in a browser extension to be a strange and insecure experience. MetaMask also has challenges, such as the need to “import token,” as It does not know what tokens a user holds or which smart contracts to look in. 

Solana/Phantom

Navigating Solana, users rely on various wallets tailored for the platform. Phantom and Sollet are among the most popular. These wallets provide a user-friendly interface for managing SOL, Solana's native token, and other SPL tokens. They also support interactions with decentralized applications built on Solana, making them indispensable tools for the community.

Phantom, in particular, has garnered attention for its sleek design and seamless integration with popular web browsers, making it a go-to for many users. Additionally, with the growth of Solana's ecosystem, these wallets continually evolve, introducing features like NFT displays and staking capabilities, enhancing the overall user experience on Solana.

Recognizing the diverse usage patterns of modern users, Phantom offers versatility across platforms. For web users, Phantom integrates by injecting a 'phantom object' into the JavaScript context. This allows web apps to engage seamlessly with the wallet. Simultaneously, Phantom utilizes universal and deep linking techniques for mobile users, facilitating smooth interaction between mobile applications and the wallet.

The collaboration between Phantom Wallet and 1Password brings forth several advantages over Ethereum. First, access is notably simplified. With 1Password's "Save in 1Password" API, users can save their entire set of Phantom wallet credentials, including private keys, directly to 1Password. This reduces the hassle of remembering complex login details, offering a unified access point to digital assets. However, this UX improvement comes at the cost of introducing additional attack vectors, compromising a user’s self-sovereign control of their assets, which kind of misses the point of Web3! The end user is always responsible for deciding which ratio of convenience-to-security is appropriate for their needs.

Aptos/Pontem

Pontem Wallet is the leading Aptos wallet, offering a mobile version and a browser extension. The mobile version maintains most of the wallet’s primary features, including NFT management, a dApp exploration page, and in-wallet swaps. All of this, combined with the wallet's native liquid staking and Ledger support, allows users to have self-custodial control over their digital assets while navigating the Aptos ecosystem.

Additionally, a high degree of emphasis is placed on delegation with the Aptos design, giving users flexibility in their overall management and involvement on the Aptos blockchain. Besides the APT serving as a delegation token to validators, Aptos also supports private key delegation, an option not available on most other blockchains. The private key delegation allows for the temporary transfer of control over a wallet to a third party. The third party to whom the wallet has been delegated holds a specified level of authority over the wallet, but the original user ultimately has full control and ownership over the wallet and all associated assets. 

Pontem displays a comprehensive and forward-thinking approach to digital wallets, especially in terms of its user-centric features. Both platforms, while distinct in their offerings, underline the necessity of evolving user expectations concerning digital wallets.

Radix Wallet

The Radix Wallet mobile app exposes the user to the groundbreaking features of the Radix Network, such as the Transaction Manifest’s human-readable transactions and deposits guarantees, native assets with transparent behaviors, and soon-to-come to the Radix Wallet, the multifactor authentication and recovery capabilities of Radix’s Smart Accounts, and the removal of seed phrases.  

The Radix Wallet was developed in response to the problem of users putting large sums in browser extensions, which are often insecure, and that users switching between desktop and mobile sessions could not have a seamless, unified experience.

To solve this, the Radix Wallet is a mobile app only but can still provide users the full power of a full-screen desktop experience through Radix Connect. Radix Connect is a desktop browser extension that can create an encrypted P2P link between the mobile Radix Wallet app and a desktop session. This connector extension doesn’t hold any funds - it serves only as a means to connect the mobile wallet and desktop session when needed.

With the Radix Wallet, users can leverage full-screen desktop Web3/DeFi dApps. However, when signing a transaction, the desktop session will automatically request the mobile app, and the user authorizes any requests on the mobile combined with any relevant hardware wallets. 

This improves security because the mobile app authorizing transactions is segregated from the desktop browser navigating Web3 and DeFi websites. And it creates a single unified experience where the wallet is always and only on your phone. There is no desktop wallet - just the connector extension, therefore users will always have their primary wallet with them at all times - even when they’re on the go.

In the future, Radix will also support deep linking so that users can experience Web3 and DeFi web dApps only on the phone. 

How do you rate this article?

60


Michael @ CryptoEQ
Michael @ CryptoEQ

I am a Co-Founder and Lead Analyst at CryptoEQ. Gain the market insights you need to grow your cryptocurrency portfolio. Our team's supportive and interactive approach helps you refine your crypto investing and trading strategies.


CryptoEQ
CryptoEQ

Gain the market insights you need to grow your cryptocurrency portfolio. Our team's supportive and interactive approach helps you refine your crypto investing and trading strategies.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.