Solflare Review: The Only Wallet You Need For Solana
For people who may not be familiar with Solflare, it is a multiplatform wallet that can play an important role in the Solana ecosystem.
Solflare is a user-friendly non-custodial wallet that supports users on both Serum and Solana Beach. It is one of the safest and easiest places to store funds on Solana, as well as a fully-featured wallet users need to do anything on Solana.
The crypto space is one of the most modern markets and a growing global economic force. Solflare has become the gateway for new users in the Solana Ecosystem which is blossoming in the coming months and years.
It was one of the first building blocks for Solana and has set the high standard for what users can expect to see as blockchain apps.
If you want to learn more about how to enter the Solana blockchain, or are looking for a new wallet, check out Solflare!
What Is Solflare?
As the first wallet ever built on the Solana platform, over 24% of the entire circulating supply of Solana is currently staked via the Solflare platform.
As a result, Solflare has established itself not only as a powerful and easy-to-use web wallet but also as the safest and most secure place to stake Sol in the Solana ecosystem.
It allows Solrise, an established brand among the Solana community, to store its funds by using either a mnemonic phrase or a ledger device.
In addition to swapping from token to token, store and view NFTs with full metadata, users can also stake their Solana, or do whatever they need to do within the Solana ecosystem. Most recently, it has been launched a major re-release called Solflare X.
Its vision is to assist new users of the Solana ecosystem to hit the running and get active on the chain as fast as possible, Solflare makers have created a suite of services that offer mass-appeal to users coming to Solana.
By allowing users to pool their investments behind talented fund managers will also enable non-traders to access some of the best returns in DeFi as well as professionals to access a new source of fund capital.
As a part of the Solrise ecosystem of products, Solrise’s token, $SLRS is set to use more in the strategic plans.
Key Features
Solflare is a multiplatform wallet, it is available as a web wallet on both desktop and mobile, as well as a browser extension for both Chrome and Firefox.
The platform is designed to be as easy to use as possible. A Solflare Academy knowledge base is there for newcomers to Solana to learn about everything in the Solana ecosystem.
Besides, 24-word mnemonic phrases, ledger integration, and more safety features are also coming soon which will make Solflare a safer place to store funds rather than other wallets in the space.
Solflare features an integrated swap which is available on all versions of the wallet allowing users to trade between tokens with no need to leave the wallet.
In addition to owning a support team 24/7 for help and advice on interacting with the Solana ecosystem in general, Solflare also has deep support for NFTs through comprehensive coverage of metadata and the ability to view all sorts of NFTs including audio, video, and VR within the wallet.
Signup for your free wallet here.
Solflare X
Solflare X is the biggest update in Solflare’s history that has been overhauled the UX in response to user feedback to bring every aspect of using the web wallet much easier, mainly focusing on staking.
An addition of deep NFT support with audio/video playback features among the support for NFT metadata can offer users a full NFT experience on Solana for the first time.
Who Will Love Solflare?
With the safety and accessibility-focused design, Solflare targets two types of users, including holders who want to manage significant amounts of crypto, and users who are new to DeFi and want an easy-to-use wallet that they can trust completely.
By releasing a Solflare Academy knowledge base and further safety features, the team plans to expand its service and attract more new users dramatically.
The Team Backing Up Solflare
The team was co-founded by Vidor, Matt, and Filip who have high experience in the industry, who are also responsible for Solana Beach and Solrise Finance alongside Solrise Pulse.
This group has been building together in crypto for over half a decade by impressing with the level of developer support available for blockchain and cryptocurrency space, that was how they ended up releasing the original version of Solflare and continued their roadmap.
The Solflare maker team also was one of the first teams to get heavily involved in Solana.
Vidor bought his first BTC in 2011 and started building in crypto in 2016. Vidor met the other co-founders of Solflare, Matt when he was hired by Matt to serve as a contractor back in the day to build a credentials-tracking blockchain for the NHS which was on behalf of a medical startup in the UK.
A few months later, Vidor met Filip when he had participated in another project to structure their token metrics.
In the past, the team participated in a lot of early development on Ethereum and started to realize how huge the impact of good on-chain dev work could be.
Doing a lot of enterprise blockchain work after that gave the team co-founders a real understanding of how to design and execute on blockchain architecture to build on brand-new networks including Cosmos/Tendermint, Polkadot, NEAR, and a bunch of others.
The team chose to back Solana since it is a very comfortable place to build due to Solana’s incredibly friendly, and supportive ecosystem.
Realizing that they had ended up with $2B in AUM on an app that was built to get familiar with Solana, that was a point to encourage the team to drop everything and go completely all-in on this chain.
Currently, the team has developed various block and transaction synchronization algorithms following the blockchain at the speed which moves and supports them with the possibility to request on-demand synchronization if the users access older data.
Why Should I Use Solflare?
Solflare is a multiplatform wallet that owns a fully-function that users can do whatever they need to do within Solana.
It allows users to easily swap from token to token and stake tokens. It is also the safest place for users to store funds and view NFTs with full metadata in the Solana ecosystem.
At an ecosystem level, its effort to build guides and supporting materials for new entrants bringing the UX and overall experience super slick while also providing a clear fiat on-ramp.
In addition to providing its traditional web wallet feature, Solflare has recently expanded to include a browser extension available on both Firefox and Chrome.
Users can get quick and easy access to their wallets from a browser extension that can be accessed from any website.
On another hand, the Solflare Mobile app is hitting the markets soon which is expected to make it even easier to use Solflare from wherever.
According to the Solflare wallet stats, it had achieved 20% of all circulating SOL being staked on the App. The Solrise testnet trading competition, DAWN, had reached 60K signups with verified Twitter accounts and wallets.
Clearly, this is a wallet that offers a lot, and has found a growing user base.
For more information about Solflare – please click here!
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