Pandoshi is Preparing to Launch their New Non-Custodial Wallet

Discover the world of Pandoshi and get ready for the beta release of the Pandoshi Wallet.

Dec 23, 2023 - 12:04
Dec 27, 2023 - 10:49
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Pandoshi is Preparing to Launch their New Non-Custodial Wallet
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In recent developments within the cryptocurrency market, Pandoshi has announced a notably successful presale, raising over $1.7 million in just the initial two weeks following its launch. This significant achievement highlights the project's strong appeal and potential within the crypto community. 

In a further update shared via Twitter, Pandoshi has revealed that they are progressing more rapidly than anticipated, nearing the beta release of the Pandoshi Wallet. This release, occurring amidst the presale phase, is set to support all Ethereum Virtual Machine (EVM) chains.

The wallet application, which will be immediately available for both Android and iOS platforms, signifies Pandoshi's dedication to wide accessibility. Plans are also in place to launch a browser extension soon after the wallet's initial rollout. In this guide, we will analyze both the ecosystem and features of the project, as well as provide an in-depth look at their latest release, the Pandoshi Wallet.

Pandoshi Wallet

In the Pandoshi ecosystem, an essential component is the decentralized, non-custodial, and thoroughly secure wallet. The security of this wallet is paramount, achieved by not collecting any user data. The absence of data collection means there is no information to lose, addressing a common vulnerability in many hacks. The philosophy is clear: the best way to safeguard user data is not to hold it in the first place.

Initially, the wallet will be compatible with Ethereum Virtual Machine (EVM) chains. Within the next update, it will expand its compatibility to include non-EVM chains, prioritizing based on importance. The wallet will feature an internal swap and bridge connected to PandoshiSwap, capabilities for staking directly within the wallet, setting up recurring payments, and executing transactions without needing the native coin of the network. Users will have the flexibility to pay with other assets they hold.

As Pandoshi Wallet prepares for its launch, it is poised to offer a suite of key features designed to ensure security, ease of use, and full functionality. These features have been thoughtfully curated to enhance the user experience, providing a robust and user-centric platform for managing digital assets. Here are some of the key features that the wallet will support at launch:

  • Hierarchical Deterministic Generation: Implements BIP 32 standard, creating wallets from a single seed to derive secure and related public and private keys, enhancing security over unrelated key generation.

  • Non-Custodial Storage: Grants users complete control over their assets, private keys and seed phrases, encrypting them on their devices for enhanced security and autonomy, without third-party access.

  • EVM-Compatible: Facilitates interaction with Ethereum-based networks, managing various ERC-20 and BEP-20 tokens across multiple blockchains including Ethereum, BSC, Polygon, and others, with an option to add custom networks.

  • Import Your Seed Phrase: Supports various seed phrase lengths, encrypting and storing them securely within your device's native secure storage.

  • Multiple Accounts and Wallets: Offers the ability to derive numerous accounts from a single seed phrase or generate multiple wallets, each with its unique seed phrase.

  • Security Token Scanner: Actively scans all tokens in your wallet, promptly alerting you to any potential risks to ensure the safety and security of your assets.

  • Security Token Approvals Scanner: Carefully reviews smart contract approvals granted to dApps, alerting users of potential risks and monitoring permissions for enhanced security.

The release date of the Pandoshi wallet has yet to be announced. For the latest updates and a sneak peek at the wallet's features, you can follow Pandoshi's official Telegram and Twitter channels.

It's important to note that a non-custodial DeFi wallet offers greater security compared to a wallet on an exchange. This is because, with an exchange wallet, you don't truly own your assets; the exchange holds your private keys. On the other hand, with a non-custodial wallet, you have full control over your assets. If you're looking for a wallet where you can have true ownership and control of your funds, then the Pandoshi wallet might be the right choice for you.

Philip Bohmer Philip is a seasoned journalist that brings clarity to the complex world of cryptocurrencies through his articulate and insightful articles. His passion for blockchain technology fuels his writing, making him a trusted voice in the rapidly evolving digital currency landscape.