WEMIX

The WEMIX Wallet, now renamed as PLAY Wallet, is optimized for the WEMIX gaming platform. It provides transaction signing services for game token management and GameFi on WEMIX3.0, PLAY Chain, and TORNADO Chain, offering a convenient user experience alongside robust security as a decentralized wallet. PLAY Wallet&#39;s Security and Decentralization The private key in PLAY Wallet is not disclosed to the owners but is protected within each owner’s wallet through the following measures : • Initially, the wallet supports linking through social accounts used during wallet creation, inheriting the security level of the social accounts. • Secondly, transaction signing is supported via a password set within the wallet, which is encrypted and unknown to anyone other than the wallet owner. • Lastly, the PLAY Wallet private key, which is encrypted and stored in each owner’s wallet, can only be accessed and decrypted after passing through these two procedures. Without undergoing these procedures, no one, including the WEMIX team, can access or know the private key.The reasons why PLAY Wallet does not provide private keys to individuals are as follows : • Unlike WEMIX3.0, the PLAY Chain and TORNADO Chain are subnets (sidechains) specialized for blockchain game services. This specialization necessitates a tailored approach to access and asset management within these ecosystems. • Utilizing a private key to access decentralized wallets other than PLAY Wallet may lead to restricted access to these particular subnets or result in improper support for assets on these chains. This precaution is taken to ensure the seamless provision of blockchain gaming services. However, it&#39;s important to highlight that PLAY Wallet is securely operated as a decentralized wallet, where the private key is safeguarded from access or discovery by anyone, thereby ensuring the highest level of security and integrity for its users. Unlike immutable blockchains : • The provision is aimed at preventing the degradation of a game&#39;s economy through unfair play, which can arise from the exploitation of bugs or abusive behaviors in certain games. • PLAY Wallet has the capability to restrict access to accounts deemed as abusers. • Even in such instances, as a decentralized wallet, PLAY Wallet cannot directly impose sanctions on wallet addresses or confiscate assets. • The measure taken involves denying access to the social ID associated with the wallet, effectively blocking login and wallet linkage. This procedure only prevents access for logging in. • The ultimate authority to manage the private key of the PLAY Wallet resides with the owner of each wallet. • The WEMIX team is technically unable to exercise control over the wallet itself, the assets stored within it, or the private key held in each owner&#39;s wallet. PLAY Wallet Private Key Distribution Schedule The capabilities embedded within PLAY Wallet have been conceived and developed amidst the WEMIX network, a conglomerate initiated with a focus on gaming platforms, aimed at the facilitation of efficient and impactful gaming services. Faced with unfounded challenges to the decentralized nature of PLAY Wallet, the WEMIX team has resolved to extinguish these controversies by committing to the provision of private keys to the owners of the wallets. This strategic decision reflects a deep-seated dedication to uphold transparency, reinforce the foundational tenets of decentralization, and bolster the confidence and security of our holders within the network&#39;s ecosystem. PLAY Wallet Private Key • First, access PLAY Wallet via a standard social login process. • In the search private key menu, you can perform a search by entering the transaction approval password set within the wallet. • The private key inquiry service will be available approximately four weeks from this notice, after which the private key can be utilized for transferring the wallet to other decentralized wallets outside of PLAY Wallet. • However, it is imperative to note that the private key provided upon inquiry and decryption grants control over the wallet address and its assets merely through their disclosure. Therefore, we urge you to pay close attention to personal security. • Utilizing the private key to move to other wallets, including una Wallet and WEMIX Wallet, may result in restricted access and usage of games serviced through the existing TORNADO Chain and PLAY Chain. Conclusion PLAY Wallet has consistently been, remains, and will persist as a specialized Purpose Bound Decentralized Wallet (PBDW), meticulously crafted to bolster the WEMIX gaming ecosystem, with an unwavering commitment to the principles of full decentralization. We earnestly solicit the continued engagement of our esteemed community with the diverse offerings of WEMIX PLAY’s games and services. Moreover, we advocate for sustained adherence to the elevated security protocols of PLAY Wallet, leveraging its advanced functionalities to guarantee the secure encryption and storage of assets, today and into the future. Thank you. Official WEMIX site announcement : <a href="https://www.wemix.com/communication/decentralization-structure-of-play-wallet-e8b2d7b90fb6" rel="noopener noreferrer nofollow">https://www.wemix.com/communication/decentralization-structure-of-play-wallet-e8b2d7b90fb6</a> [WEMIX Community] • WEMIX Official Webpage : <a href="https://www.wemix.com/communication" rel="noopener noreferrer nofollow">wemix.com</a> • Medium : <a href="https://medium.com/wemix-communication" rel="noopener noreferrer nofollow">WEMIX Communication</a> | <a href="https://medium.com/wemix-play" rel="noopener noreferrer nofollow">WEMIX PLAY</a> | <a href="https://medium.com/nile-official" rel="noopener noreferrer nofollow">NILE</a> • WEMIX Channels : <a href="https://twitter.com/WemixNetwork" rel="noopener noreferrer nofollow">X (formerly Twitter)</a> | <a href="https://www.facebook.com/WEMIXBlockchain" rel="noopener noreferrer nofollow">Facebook(WEMIX Platform)</a> | <a href="https://www.facebook.com/WEMIXGames" rel="noopener noreferrer nofollow">Facebook(WEMIX Games)</a> | <a href="https://t.me/WEMIX_ANNouncement" rel="noopener noreferrer nofollow">Telegram</a>

Decentralization Structure of PLAY Wallet

WEMIX

Other articles published on Feb 14, 2024

Andrej Karpathy Departs From OpenAI to Pursue Personal Projects

Bitcoin price sets Valentine’s Day winning record: Can it reach $55k?

Bitcoin Halving Draws Nearer – 3 Projects You Cannot Ignore

Bitcoin Price Climbs Past $51K, Briefly Touching $1T Market Cap

Market Volatility Sees Traders Hesitating on LTC and XRP, While Borroe Finance Presale Draws Unpr...

Binance integrates 24 new dapps into its web3 wallet

Join our free newsletter for daily crypto updates!