xWallets are Web3 smart contract wallets that extend the functionality of your digital identity by being able to interact with other decentralized applications (dApps).
Each of these wallets has a DID key stored in the verification methods of your DIDxWallet, which your decentralized identity requires for certain transactions.
The xWallets have Social Recovery, using your DIDxWallet's Decentralized Identifier (DID) Controller. Therefore, they are more secure than an external wallet, such as ZilPay.
The ZIL Staking xWallet (ZILxWallet) is the first xWallet on the TYRON Network. It is also the first wallet on Zilliqa for staking on Zillion with the security of Social Recovery. With a ZILxWallet, you can avoid putting your stake at risk in case you lose your private key (ZilPay wallet).
Upcoming xWallets releases are as follows:
- Soulbound xWallet: to obtain Soulbound Tokens (SBT) - especially, the SBTxWallet implements the FATF Travel Rule - e.g. firstname.lastname@example.org
- Decentralized Finance xWallet - e.g. email@example.com
- Mapu Communities xWallet - firstname.lastname@example.org
In the above examples, soul, defi and mapu are DID subdomains.
A Soulbound xWallet enables you to safely store Soulbound Tokens (SBT), non-transferable tokens bound to your digital identity. Specifically, the SBTxWallet implements the FATF Travel Rule for your identity to comply with KYC in a decentralized manner. They allow you to prove that you have been verified without needing to provide your personal information repeatedly.
On the TYRON Network, you can easily access any of your xWallets through your NFT Domain Name, such as username.did plus a DID Subdomain you have selected for your specific xWallet, for example, email@example.com for your ZILxWallet.
As a TYRON user, you can choose whichever DID Subdomain you want to call and find your xWallet. For example, if you own the NFT Domain Name saturno.did, then you can select the DID Subdomain "one" to name your ZIL Staking xWallet: firstname.lastname@example.org. And another, different DID Subdomain "two" for your SBTxWallet: email@example.com, and so on for all your xWallets.
Thanks for reading! You are welcome on the TYRON Network & more info in the Social Tree of the SSI Protocol.
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