There are many types of wallets available for you to choose from, but how do you know which one is best? We review the most popular private non-custodial wallet in 2019.
One common misunderstanding is that blockchains (and their associated cryptocurrencies) are intangible and untraceable. They think that you can send any amount of money via a blockchain without being caught, whether you’re paying for a cup of coffee, sharing it with family members in another country, or spending it on a kilo of cocaine on the illicit market. That isn’t always the case, as we’ll see in our Blank Wallet review.
Yes, compared to a traditional bank account, blockchains — at least the more popular ones – offer some kind of pseudo-anonymity. Your transactions, however, may be tracked. Maintaining transparency is, after all, one of the fundamental principles of the blockchain. How could you remain anonymous if all of your records are kept in a public ledger? Blank Wallet, on the other hand, is here to help you solve your problem by maintaining the principles of transparency inside a blockchain while still providing maximum anonymity.
Blank Wallet is more than just a basic cryptocurrency wallet where you may save your hard-earned coins. They’ve created a whole network via which users may trade and transfer cryptos without worry of being tracked. There’s no need to be concerned about a third-party monitoring where your money comes from, how large your account is, or where it’s going. Is it worth it to move to a new wallet simply for the increased concealability? To discover out, read our Blank Wallet review.
What Exactly Is A Blank Wallet?
Blank Wallet promises to be the most secure non-custodial Ethereum wallet in the world. It’s a Chrome-based browser extension, but it’s still in early access as of this Blank Wallet review, and you’ll have to request to use it. Otherwise, it aims to assist in the resolution of blockchain privacy issues. Users desiring anonymity in the blockchain realm have had to locate and entrust centralized services to do so, such as masking their crypto address.
Users may also attempt to do it themselves to keep their bitcoin transactions secret, but they’d have to go to a lot of trouble to do so for each and every transaction. With its wallet, Blank Wallet provides an all-in-one solution to this problem. It features a mechanism that encrypts your financial information by combining it with a pool of money held by Blank in a decentralized way. There is no record of you in those money once they leave the other end.
What Are the Benefits of a Blank Wallet?
The main problem that Blank Wallet has discovered is how everything can be linked back to you. When you link your wallet to a decentralized app, that dApp platform may be able to access both your wallet’s ID and your IP address. Someone with adequate access to that data stream might know all of your other dApps, where you’ve linked your wallet, all of your previous transactions, and how much crypto you have in your wallet.
We’ll look at how they were able to hide all of this information in our Blank Wallet review. In brief, Blank Wallet makes use of smart contracts to enable users to conceal the amount of coins they own in a decentralized and seamless way. Basically, whenever you request a withdrawal, Blank Wallet generates a new wallet address for you with the amount of cryptocurrencies you’ve requested, which comes from the smart contract that pools all users’ money.
There are a few benefits for the end-user. Only the user has access to, and may see, monitor, and manage their money. Blank’s usage of a smart contract connects all users’ wealth, making it impossible for outsiders to track your money. Furthermore, unless you choose not to, this implies that you may conceal where your money came from and how it is utilized. Furthermore, there is no KYC or AML, and each transaction necessitates the creation of a new “blank” wallet with no previous history.
What Is a Blank Wallet and How Does It Work?
Blank Wallet thinks that privacy should not be an optional “opt-in” feature, therefore it incorporates it into its wallet service by default, with users having the choice to “opt-out.” It uses a few important technologies to do this. Blank Wallet is currently in its V1 development stage, with the majority of its functionality built on Tornado Cash’s secret transaction technology.
Tornado’s mixer enables anybody to transfer or mix their Ether (or Ethereum-based) coins in a non-custodial, cryptographically secure way. The aforementioned smart contracts, which are then driven by zkSnark proofs, make this possible. When a user makes a deposit, he or she creates a “secret” and transmits it together with the money to be mixed onto the smart contract that executes them.
The hash function is a one-way operation. This implies that calculating the hash of a secret is simple, but deciphering the secret of a given hash is extremely difficult. It guarantees that the money can only be withdrawn by the person who has the secret. The user (or depositor) may then utilize zkSnark to disclose their secret to verify that their deposit has been locked in the smart contract, allowing them to make a withdrawal. As a result, full anonymity is guaranteed.
What ways might Blank Wallet improve on existing ideas?
This formula is improved in Blank Wallet by making it more smooth and user-friendly. Blank’s users won’t have to remember their secret passphrase or establish numerous wallets once they’ve joined to the anonymity pool. Blank Wallet takes a step further by directly integrating the Tor network to safeguard users’ anonymity both on and off-chain (the latter is still vulnerable to monitoring). Another advantage of utilizing a Blank Wallet is security.
Your local web browser saves all essential data, including as a user’s seed phrase, wallet addresses, keys, and other account data. There is no exploitable internet storage bank, and each user controls their data. Furthermore, to store and manage user accounts, Blank Wallet uses MetaMask’s Eth-Keyring library. All of a user’s “secrets” for Tornado’s zkSnarks feature are stored in your wallet’s seed phrase to ensure that everything is as secure as possible.
Blank Wallet can now handle a broad range of Ethereum-based tokens, including Ether, Wrapped Bitcoin (WBTC) for DeFi apps, and ERC-20 cryptocurrencies, as of this review. On top of their simple, succinct, and fluid user design, Blank Wallet offers extra features including Web3 compatibility for decentralized finance (DeFi) services, support for partial withdrawals, automated deposits, a referral system to attract new users, and income sharing.
What Does the Economy of Blank Wallet Look Like?
Blank Wallet offers a solid business case for being able to properly monetize their services, in addition to being able to provide a free wallet application. This is very simple to execute, due to Blank’s additional advantages and features, such as enhanced privacy and anonymity, that other wallets don’t typically provide. They are going to impose a 0.25 percent withdrawal charge as I write this Blank Wallet review.
Note that this rate only applies to withdrawals done via Blank’s custom-designed privacy pool, and it may change depending on user input. Regular functions, as well as users who opt out of additional privacy safeguards, are free to utilize the wallet. Blank Wallet will promote itself via affiliate and referral networks, influencer marketing, and its “community angels.” Aside from that, extra incentives will be offered on Blank, such as airdrops or giveaways.
What Are BLANK Tokens in Blank Wallet?
Blank Wallet features its own utility token, BLANK, in addition to providing safe, easy-to-use, and privacy-focused cryptocurrency storage. BLANK tokens are primarily utilized to obtain additional benefits inside the wallet and to be able to monetize their value, in addition to acting as a liquidity provision to finance Blank Wallet’s development and marketing activities. BLANK token holders may profit in a variety of ways when using Blank’s wallet app:
Charge discounts – As we said in our Blank Wallet review, users may be required to pay a fee to use some privacy features or to make withdrawals. Users that have BLANK tokens in their wallets may be able to get a reduction on their fees. This will be done on a tier system, with 1,000 BLANK equaling a 10% charge reduction, 5,000 BLANK equaling a 15% fee reduction, and 10,000 BLANK equaling a 25% fee reduction.
Token burning — To enhance the scarcity of BLANK tokens, part of the tokenomics will be based on a deflationary approach. Half (50%) of all fees received by Blank Wallet or via its smart contracts will be utilized to purchase back and burn BLANK tokens on the market. The circulating supply will be decreased over time.
Blank Wallet will provide BLANK tokens on Uniswap, allowing LPs to earn fees. Users may donate BLANK tokens to become liquidity providers on Uniswap’s decentralized exchange (DEX) in order to offer as much liquidity as feasible for the trading pool (LP). To encourage this, LPs may receive 50% of the total fees collected from the Uniswap BLANK pool via trading fees.
Referrals and incentives – Users may help Blank Wallet expand by using their referral program to spread the word. Referral incentives may then be earned by regular users, influencers, blogs, or news sources. All incentives are given out in BLANK tokens to encourage people to utilize Blank’s ecosystem. Airdrops into the Blank Wallet will only be sent via BLANK in the future.
Access to unique features – As Blank Wallet expands, its software will undergo a lot of testing. As a result, BLANK token holders with a specific amount of tokens may be asked to participate in Alpha or Beta testing for new and interesting features. Extra wallet capabilities, such as the ability to store more hosted addresses, will be restricted to BLANK token holders exclusively.
Blank Wallet’s BLANK’s Tokenomics
BLANK tokens are currently worth $3.13 at the time of writing this Blank Wallet review. BLANK coins have seen a lot of price volatility recently due to their relative newness. This price is 43.40 percent lower than its all-time high of $5.54 set on April 1st, 2021. Meanwhile, the price has risen by 589.40 percent from its all-time low of $0.4545, which was set on March 7th, 2021. BLANK is the 588th most valuable cryptocurrency, with a market value of $51,408,953.
The total quantity of BLANK tokens is capped at 125,000,000. (16,406,687 BLANK are currently in circulation). It has conducted two token sales thus yet. Blank Wallet raised $1,802,500,00 in a private fundraising round in which 35,000,000 BLANK were sold for $0.0515 apiece. A public auction afterwards raised additional $120,000.00 by selling 1,875,000 BLANK for $0.064. Future sales and distributions will see BLANK tokens distributed in the following order over the next two years (24 months):
Liquidity/ Adoption Incentives – 40,000,000 BLANK Marketing/ Listing – 12,500,000 BLANK Advisors – 5,000,000 BLANK Team Members – 15,000,000 BLANK 15,625,000 BLANK IN DEVELOPMENT FUNDING
Predictions on the Price of a Blank Wallet are also available.
What Does the Future Hold for Blank Wallet?
They are presently in the ‘V1’ early access stage, as we stated in our Blank Wallet review. This is when we saw Blank include all of its fundamental features, including a unique Proof-of-Funds compliance key, into the wallet. Every quarter, Blank Wallet will get the following upgrades and enhancements.
2nd Quarter 2021 (Blank V2) – In Q2, we’ll see a growing list of ERC-20 tokens that may be deposited and kept in the wallet, as well as the establishment of a new WBTC pool. By now, your Blank wallet should be Web3 compliant, allowing you to link it to DeFi apps with ease. After that, a public security audit will be conducted to verify that Blank’s security measures are functioning properly.
Q3 2021 – We should now see that Blank has included more of their previously stated additional features. This features automated deposits, in which money put into a Blank Wallet address are transferred straight to the main Blank pool if desired. During withdrawals, a one-time address will be introduced, where Blank will automatically generate a new ‘blank-slate address. Users may now be paid for referring others, as well as benefit from improved anonymity thanks to the integration of Tor.
– – – – – – – – – – – – – – – They’ll include additional features in their ultimate roadmap plans, as of this Blank Wallet review. This includes partial withdrawals, in which users may take just a portion of their deposited money from non-Tornado Cash Ether pools. A unique pool reward system will be developed, as well as the integration of part of Blank’s functionality with MetaMask, allowing users to install plugins to access Blank’s privacy features on MetaMask.
Conclusion of the Review of the Blank Wallet
In wrapping up our Blank Wallet review, we’d want to point out that not all blockchain and crypto users utilize their tokens for bad purposes. In reality, only a very small percentage of users are involved in illegal activity. However, in a world where so much is monitored, it seems that privacy is no more something that one can take for granted. Even a former CIA director believes that the arrival of blockchains would improve monitoring.
However, the launch of Blank Wallet is a significant step forward in the battle to preserve consumer privacy. Blank provides every user with the seamlessness and simplicity of use of improved privacy features that previously required a lot of elbow grease and mental energy to utilize. You won’t have to be concerned about someone looking into your wallet or following the movement of your money. It is, after all, your money, not someone else’s.
Blank Wallet Review
- Values of the Project
- Model of Tokenomics
- Sustainability in the Long Run
- The user interface is well-designed, simple to use, and comprehend, with fluid and seamless navigation.
- Masks wallet money, anonymous withdrawals, pooled deposits, and prevents on- and off-chain tracking, among other capabilities not available in other wallets.
- Increases security by using strong cryptographic encryption, keeping user data on the device, and conducting security audits.
- The addition of native BLANK utility tokens to provide users new options to monetize their assets, save money on wallet fees, and get access to additional benefits.
- Solid commitment to future roadmap improvements, as well as promises of new products and services to help them expand their wallet.
- The wallet is only accessible as a Chrome browser extension, and there is no handy desktop or mobile client.
Frequently Asked Questions
What is the best non-custodial crypto wallet?
The best non-custodial wallet is a hardware wallet. Hardware wallets are devices that store cryptocurrency offline and can be used to send and receive transactions without the need for a third party.
Is blank wallet a good investment?
Which wallet supports Solana?
Currently, the only wallet that supports Solana is the Ledger Nano S.