With the advancement in technology, cybercrime and digital threat to cryptocurrencies are increased and thus it became important to secure them. Phantom Wallet is a non-custodial crypto wallet that allows you to access decentralized apps available on the Solana network. Here, in this article, we have provided you with everything that you must know about the Phantom wallet. But before you use this wallet, it is important to know what exactly the Phantom wallet is, how you can use it, and many such questions. You can avail all the wallet functions as a simple web browser extension. The wallet allows you to store, send, receive, stake, and swap tokens on the Solana blockchain. It bridges the gap between the Solana blockchain network and the crypto users. One of the common wallets with a great user base for the Solana crypto (or SOL) is the Phantom Wallet. There are tons of crypto wallets available online that guarantee to secure your cryptos from unauthorized access. You can use digital or crypto wallets to store your cryptos. It also became important for users to store and protect their crypto funds at a safe location. It has 541,851 total sales with a total SOL volume of 4,542,038, which is about $798 million.Nowadays, Cryptocurrencies have captured the market up to a great extent and nothing seems to match their worth. It allows wallet holders to trade and hold Solana-based NFTs, through NFT marketplaces like Solanart. Not only this, NFTs contributed to Phantom’s success as well. We can't wait to see what gets built next year! /zKTUg1u7Zn Here’s what the team wrote on Twitter.ģ/4 - The most popular dapps this year were and quality of products being built and amount of talent entering the space has been really exciting to see. Well, as the saying goes, All’s well that ends well. Phantom’s platform had over $1M in SOL staked. The staking feature was already a hit among Solana users. However, unlike most blockchains, the staking is done by validators - carefully vetted Solana users tasked with processing new blocks in the blockchain. Solana runs through the Proof of Stake consensus hence its users secure the network by staking their SOL tokens. The statistic mentioned below highlights a 4,400% increase from 40,000 users in July to 1.8 million users in December. The graph below showcases this immense rise. “In just 9 months we have grown to over 1.8M monthly active users with no sign of slowing down!” Phantom was undergoing beta testing in April 2021 and saw a 4,400% increase from 40,000 users in July to 1.8 million users in December. The team tweeted: Here’s the small sneak peek of its impressive run in 2021. It offers support for Ledger Nano X devices and gives access to NFTs and digital collectibles. Phantom is undoubtedly amongst the fastest growing wallets within this ecosystem that incorporates staking. Solana has become a very attractive cryptocurrency in 2021, as its value soared by more than 5,077% in a mere eight months. Since it uses proof-of-history, it’s also eco-friendly. It’s highly regarded in the blockchain community because of its speed and security. Solana (SOL) is one of the most popular blockchain platforms in the world right now.
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