Under the Hood: Wallets vs Interfaces

Especially for a cross-chain protocol such as THORChain, it can get confusing to differentiate between wallets vs interfaces.

Some basics: https://bitcoinbriefly.com/ultimate-guide-to-bitcoin-wallets-seeds-private-keys-public-keys-and-addresses/amp/

Wallets

A wallet is the software used to manage your address(es). Examples are Ledger, XDEFI, MetaMask, THORWallet, Trust Wallet, etc.

A multi-chain wallet can manage multiple addresses on multiple blockchains. The addresses on each separate blockchains, are usually derived from a single set of mnemonic seed words. But these wallet providers must develop/enable the support of a new blockchain. For example, Ledger & XDEFI supports the $RUNE asset on the THORChain blockchain, but Trezor has not built the support yet.

Below is a list of wallets commonly used to store $RUNE and/or interact with THORChain via an interface (see next section). Table below is no longer updated. Please check https://docs.thorchain.org/ecosystem#integrated-wallets-and-exchanges for a list of wallets (and wallet-exchange combi) which supports native RUNE.

Detour: Keystore

A keystore file is a json/text file which is derived via encryption of seed words plus a user chosen password. When using a keystore, the password must always be inputted to decrypt the keystore. A keystore can be thought of as a simple “wallet”.

Detour: Ledger

Ledger (the hardware) supports $RUNE, but Ledger Live (the software) does not. This is similar to many other assets/blockchains. Users can connect Ledger directly to supported interfaces to manage $RUNE without the need for Ledger Live. Resource: https://support.ledger.com/hc/en-us/articles/4402987997841-THORChain-RUNE-?support=true

Detour: MetaMask

MetaMask used to only support Ethereum Virtual Machine (EVM) based chains. Now, with the launch of Snaps (specifically ShapeShift’s MultiChain Snap), users can use it to hold RUNE and interact with THORChain for cross-chain functionality.

Interfaces

In the context of THORChain, an interface is the software (could be desktop, webapp or mobile) which sits in-between a wallet and THORChain itself. An interface is not a wallet. Instead, users connect a wallet (e.g. a keystore or XDEFI) to an interface to access THORChain functionalities. The list of interfaces supporting THORChain can be found here: https://crypto-university.medium.com/thorchain-maya-protocol-user-interfaces-compilation-9437cf8bf98a

Wallet + Interface Combo

There are some services which provides a wallet + interface combo: functioning as a wallet, but also has a built-in interface into THORChain. Examples include THORWallet mobile, XDEFI, Edge, Trust Wallet, etc.

Using Wallet + Interface with THORChain

It is the wallet which controls the private key, not the interface. Therefore, using a non-$RUNE supported wallet (e.g. MetaMask) on a THORChain interface (e.g. THORSwap) will NOT let users access $RUNE.

However, remember that interacting with $RUNE specifically is not required for most of THORChain functionalities. E.g. Users can easily use MetaMask to swap, save or asymmetrically LP with $ETH or ERC20s.

There are also advanced usages such as connecting two wallets simultaneously with an interface. In this case, users should be clear which address/assets are linked/controlled by which wallet.

Detour: Ledger

Using Ledger to perform transactions requiring two different assets (e.g. adding symmetrical LP) is more complicated as the Ledger itself can only have one active app at a time. There is a specific set of steps to be executed to perform such transactions. Do reach out on LPUniversity Discord for support.

Note: the authors initially drafted an article for Maya Protocol, which formed the basis for https://www.mayaprotocol.com/latest-post/interfaces-multi-chain-wallets-and-keystores. This article was a rewrite for a THORChain perspective.

Feel free to hop into the TC University Discord to chat about this, or any other THORChain questions that you may have.

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