Virtual Wallet

One of web3's largest grievances is the need to wait for the wallet extension to pop up, scroll down to read the unreadable metadata, and sign the transaction. In theory, this is in place for security, but wallet drain attacks demonstrate that attacks happen anyway and that algorithms, such as WalletGaurd's, are more effective at protecting user funds.

Virtual Wallet is just as it sounds—a virtual wallet, one that the user never need know exists. Upon depositing into VDEX, the Virtual Wallet is created and stored on the user's device. If the user clears their cookies or exits the browser, interrupting the user's browser node, the state can be recovered through this smart account.

For crypto natives, this is not a big deal. Their existing EOA would suffice to validate their own transactions, although they will be presented with the option to keep their funds in the Virtual Wallet as opposed to withdrawing back to their original EOA as the gas abstraction and removal of wallet pop-ups are appealing UX improvements.

But the advantage is even greater to the non-native masses. Virtual Wallet will serve as an effective tool at onboarding the normies as they need never store their seed phrase or interact with a wallet, it operates in the background. VDEX's goal is a CEX-like UX, and the Virtual Wallet achieves this.