Matic Wallet aims to bridge the gap between scalability issues & user experience on Ethereum. It makes it easier for users to interact with scalable DApps deployed on plasma chains on top of Ethereum.
Matic Network provides scalable, secure and instant Ethereum transactions using Plasma side chains and a Proof-of-Stake network. Matic Wallet will enable users to interact easily with Matic sidechains to make faster transactions while having a simplified user experience.
Our team is working relentlessly to build the ecosystem & products for both users and developers. Matic Wallet is an integral part of the ecosystem we’re building & thus moving the Wallet to the Mainnet was a big step for us towards achieving our goals.
Along with the Alpha-mainnet launch that we announced few weeks ago, we have also launched the Matic Wallet compatible with the alpha-mainnet. You will be able to view and make transactions using Ethereum Mainnet tokens.
What’s new in this update
Introduction of PIN:
In the latest version of the Matic Wallet we have introduced a PIN system for securing all your transactions. You can now create an easy to remember 4-digit pin to safely make transactions on Matic Wallet. The PIN will be used to make any and all transactions on Matic Wallet, such as Sending funds or performing any DApp actions.
PIN plays an important role in encrypting private data (and yes there are other encryption layers involved which we should not reveal ;-)). The PIN is never stored on the mobile device, rather it is only input-driven from you whenever there is a need to sign a transaction or if you want to check your account’s seed-phrase or change the PIN.
The PIN was introduced on Matic Wallet as our initial feedback from many users had suggested that they weren’t able to use the app because their phone did not support Touch or Face ID. So we took a call and decided to implement the PIN functionality. For now, we have removed TouchID/FaceID support, but we will be bringing Touch and Face ID back in future updates.
For folks that are already using the Wallet App with Touch/Face ID configured, after updating to the latest version of the app you will be requested to setup a 4-digit PIN first. Once you setup the PIN, your previous authentication method, whether Touch or Face ID, will be removed and from then on your PIN will be used to authenticate all your transactions.
Also, we have a fresh onboarding screen for you. Earlier you had to swipe or skip through the cards to either create your account or import one. Now you can directly create a New Account or Import one as soon as you install the app.
In the latest version of Matic Wallet, users will get access to Dev Mode settings where users will have access to Mainnet networks such as Ethereum and Matic Alpha-mainnet and testnets such as Ropsten and Matic Testnet.
This is essential for developers building on Matic Network where Matic Wallet will provide an interface for them as well as have access to Testnets in one single app.
Here’s a GIF to show you can use this option
Moving to Native from React Native:
Due to a variety of technical and platform compatibility issues, we will be sunsetting React Native and putting all of our efforts into making native apps on Android and iOS.
We had consciously started with React Native because of the “Write Code Once Instead of Twice” advantage, but over time we came across multitudes of issues not only while writing code, but even building and overall output of our wallet app. React Native did wonders for our young and small team to ship the features and patch-fix quickly. We are now growing as a team and good talent across platforms (Android and iOS) have joined the team and we are actively looking for few more 🙂
This is the major reason we are moving, in order to take advantage of Native platform APIs for writing the future versions of the wallet application (Kotlin for Android and Swift for iOS).
New & Upcoming Features
Better Interactions on Transactions:
Will provide a better understanding on the different types of transactions with adequate details for each transaction. There will be intuitive indicators when your transaction is still in progress or if there are any pending actionable items.
Better UX of Home Screen and Sending Funds:
A much cleaner Home Screen look with a smoother flow for sending funds across to your friends.
Keyless mechanisms will be introduced later:
In the next major release, we will be introducing a keyless mechanism for users, while still ensuring security and never, ever, holding your private keys. User onboarding is a critical issue in crypto-land and we will be adopting the best practices that are possible with the use of advanced cryptography to make it easier for people to use blockchain applications.
Note: Although we have taken the best efforts to keep the security of Matic Wallet at the highest levels possible, we should communicate that it still will need to undergo a rigorous security audit by a third party security firm. This will be done over the course of the next 1-2 months. The Matic wallet supports all ERC20 tokens but only a few are visible by default like ETH, Matic, Mana, etc. on Ethereum mainnet. For Alpha-mainnet, only a subset are supported. We will be adding more tokens to the list soon.
We’re constantly striving to create a better product & keep improving it basis your feedback. We would love to get your feedback through a brief survey.