Dialect Deep Dive - The birth of a smart wallet
A broad view of an innovative Dapp in the web3 space, built on Solana.
Problem Statement
Prior to the innovations blockchain technology was introduced and even currently, there’s a known way of interacting online. You typically need to fill up a sign-up page on the app you are intending to use. Here, you fill in your required information like your name, living address, sex (or what you identify as), email address, etc. In a lot of cases, these are unnecessary, for example, a case where I just want to read a short article on an app and go back to bed. But no, I literally have to completely dox myself before reading a 2 minutes article.
Dox
To “dox” someone means to publicly reveal their personal information, such as their real name, home address, phone number, and other identifying details, often with the intention of causing harm or harassment. This term is often used in the context of online activities, where someone’s personal information is posted online in an effort to shame or intimidate them. Doxing can be a serious problem, as it can lead to harassment, stalking, and even physical harm. It is important to protect your personal information online and be aware of the potential risks of sharing it publicly. If you are the victim of doxing, it is important to take steps to protect yourself, such as by seeking legal help, contacting the police, and changing your personal information to prevent further harm.
To answer to this issue, the third variation of the internet powered by the blockchain, commonly known as Web3, offers another approach to interacting online. With wallets, you can sign in to Dapps without needing to fill up forms to retrieve your personal information. It is faster, easier, and allows you to maintain anonymity if you choose to.
Dapps
A decentralized application (DApp) is a type of software application that runs on a decentralized network, such as a blockchain. A DApp is built on top of a decentralized platform, such as Solana, which allows it to operate without a central authority. One of the main benefits of a DApp is that it is decentralized, which means it is not controlled by any single entity and is instead run by a network of users. This makes it more resistant to censorship and more transparent, as the network is open and transparent to all users. DApps can be used for a wide range of purposes, including financial applications, social networks, and gaming. They are often built using smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
Overall, DApps offer an alternative to traditional centralized applications and have the potential to disrupt a wide range of industries by offering a more transparent and decentralized approach to building and using applications.
Why do I even need a Wallet?
Cryptocurrency transactions are based on a decentralized, distributed ledger called a blockchain. Each transaction is recorded on the blockchain and verified by a network of computers. This ensures that the transaction is secure and cannot be altered. In order to participate in a cryptocurrency network and make transactions, you need a way to access the blockchain and prove that you are the owner of a particular set of keys. This is where a cryptocurrency wallet comes in.
A wallet is a tool that allows you to store, receive, and send cryptocurrency. It consists of two parts: a private key and a public address. A private key is a secret number that allows you to access and spend your cryptocurrency, while the public address is a string of letters and numbers that represents your wallet and allows others to send you the cryptocurrency.
There are several reasons why you might need a wallet:
- To store your cryptocurrency: A wallet allows you to securely store your cryptocurrency and keep it safe from hackers and thieves.
- It helps you keep track of your balance. Your wallet will show you the current balance of your cryptocurrency addresses, as well as any past transactions.
- To receive cryptocurrency: If someone wants to send you cryptocurrency, they will need your public address. You can share this address with others, and they can use it to send you cryptocurrency.
- It can also serve as a security device. Some wallets offer additional security features, such as the ability to set up a passphrase or biometric authentication, to help protect your funds.
- To send cryptocurrency: If you want to send cryptocurrency to someone else, you will need a wallet to access and spend your cryptocurrency.
Oh, wallets also play a major role in another vital aspect of web3.
NFT’s
An NFT (non-fungible token) is a type of cryptocurrency that represents ownership of a unique digital asset, such as a piece of art, a collectible, or a piece of content. Just like with any other type of cryptocurrency, you will need a wallet to store and manage your NFTs. There are several types of wallets that support NFTs, including web wallets, mobile wallets, and hardware wallets. When choosing a wallet for your NFTs, it’s important to consider factors such as security, usability, and compatibility with the type of NFTs you want to store.
Some popular wallets that support NFTs include:
- Phantom: Phantom makes it safe & easy for you to store, buy, send, receive, swap tokens and collect NFTs on the Solana blockchain.
- Trust Wallet: A mobile wallet that supports a wide range of cryptocurrencies and NFTs, including those on the Ethereum and Binance Smart Chain networks.
Overall, a wallet is an essential tool for anyone who wants to use or invest in cryptocurrency or NFTs. It allows you to securely store and manage your cryptocurrency, and it is the first step in getting started with cryptocurrency.
There’s a little twist here though, you would think the solution is the invention of Wallets, but that isn’t quite the case. Wallets solved a list of problems proposed by the previous web2 economy but also left a very important void. I mean a ‘very’ important void. Currently, in the space, people cannot interact. What you find now is simply the ability to sign in to a Dapp with your wallet, sign a couple of transactions, and that’s it.
Where is our beloved chat feature? What happens when I forget an important transaction I need to do on-chain? Basically, the problem here is interaction. Thankfully, the future is here.
THE SOLUTION
Yay! I have a wallet, but I can’t even speak to my friends. Yikes
Dialect is a messaging protocol and platform that enables Dapp developers to send notifications to users over a variety of channels, including SMS, email, telegram, and Dialect’s own inbox and app. This allows Dapp users to stay informed about important updates, events, and other notifications related to the Dapps they use. The tooling provided by Dialect is open source and free to use, making it easy for developers to integrate the platform into their Dapps and provide a high level of communication with their users.
According to data provided by Dialect, the platform has been used by over 30 Dapps and wallets on Solana and Aptos to power notifications and messaging. This demonstrates the widespread adoption of the platform and the value it has provided to these dapps in terms of improving communication with their users.
Furthermore, Dialect has teamed up with over 50 projects across Solana, further expanding the range of use cases into which the platform has been integrated. This includes a wide range of applications, including DeFi, NFTs, DAOs, multisigs, and more, highlighting the versatility of the platform.
One of the key features of Dialect is its flexibility. Dapp developers can choose which notification types users can subscribe to, and can also configure which channels are available for those notifications. This means that dapp users can tailor their notifications to fit their needs and preferences, ensuring that they only receive the most relevant and important updates. In fact, a survey conducted by Dialect found that 95% of users who were able to customize their notification settings reported being satisfied with the platform, indicating the importance of this feature.
In addition to its messaging capabilities, Dialect also offers an app that serves as a web3 inbox and serves as a showcase for the potential of dapp notifications, smart messages, and NFT Sticker Packs. Smart Messages are a 100% open standard, and allow users to share any wallet-authenticated button on the internet with someone, allowing them to take action right from the message. This can be particularly useful for dapps that have a wide range of functions, as users can share specific actions or tasks with others directly from the message.
THE PRODUCT
There are 3 main features which I would like to highlight in this section. The first:
now this is getting interesting
Messaging
The first step to solving the interaction problem we currently have in the web3 space is via messaging. The Dialect app allows mobile wallet-to-wallet messaging. For the first time, you can use your crypto wallet to text your friends, family, business partners etc. P2p vendors can make use of this feature to instil trust and a cordial working relationship for their customers. The best part is you can choose to remain anonymous if you want to and also show your identify to wallets you are comfortable with.
On-chain messaging refers to the ability to send messages or data directly within a blockchain, rather than through a separate channel such as email or a chat application.
There are several reasons why on-chain messaging can be useful:
- Immutability: On-chain messages are stored directly on the blockchain, which makes them resistant to tampering or deletion. This can be useful for recording important information or communication that needs to be preserved.
- Decentralization: Because messages are stored directly on the blockchain, they are decentralized and can be accessed by anyone who has a copy of the blockchain. This can be useful for creating a public record of a communication or for distributing information in a decentralized manner.
- Security: On-chain messaging can be secured through the use of cryptography, making it difficult for unauthorized parties to read or alter the message. This can be useful for sensitive or confidential communication.
- Automation: On-chain messages can be used to trigger certain actions or events within a blockchain. For example, a message could be used to trigger the release of funds from a smart contract or to initiate a vote on a decentralized platform.
Introducing Smart Messaging
before I forget, John owes me 7 bucks
Smart messaging refers to the use of smart contracts to facilitate the exchange of messages or data between parties. A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein are stored and replicated on a blockchain network.
Smart contracts can be used to automate the process of sending and receiving messages or data, making it faster and more efficient than traditional methods. For example, a smart contract could be used to automatically send a message to a supplier when a customer places an order, triggering the supplier to begin the fulfilment process. Smart messaging using blockchain technology can help to improve the transparency and security of communication between parties, as well as reduce the risk of errors or misunderstandings.
Dialect has the potential to significantly improve the efficiency and transparency of communication and data exchange between parties. Some of the key benefits of this technology include:
- Trust: By using Dialect, parties can have more confidence in the integrity and authenticity of the information being exchanged.
- Accuracy: Smart contracts can reduce the risk of errors or misunderstandings by automatically executing pre-agreed-upon terms and conditions.
- Speed: The use of smart contracts can speed up communication and data exchange, as it eliminates the need for manual processes and intermediaries.
Dialect has made it developer friendly to plug into their suite of features for your own dapp. If you are a developer, every detail needed to take advantage of the power of messaging in your dapp has been put out in their docs here.
Notification
so the John incident doesn’t occur again, if only I could get notifications
Dialect is a decentralized notification protocol that allows users to subscribe to and receive notifications from various sources on the web3 ecosystem. This is a good thing because it allows for more secure and decentralized communication between users and organizations or individuals on the web3 ecosystem.
One of the main benefits of Dialect is that it allows for more secure communication. With traditional centralized notification systems, the provider has full control over the notifications and the data associated with them. This means that the provider has the ability to access, manipulate, or even censor the notifications and data if they choose to do so.
With Dialect, notifications are decentralized and stored on a blockchain, which makes them more secure and resistant to tampering. This allows users to have greater control over their own data and ensures that the notifications they receive are accurate and uncensored.
Additionally, the decentralized nature of Dialect makes it more resistant to downtime or disruption. With a centralized notification system, if the provider goes offline or experiences technical issues, users may not be able to receive notifications. With Dialect, the notifications are stored on a distributed network, so they are less likely to be affected by issues with a single provider.
I brought in the image above to simplify what this feature means using Dialect. But what does this really mean? the features being shipped here are pioneers in the web3 space. It does not exist before. Within this lies tens of use cases just waiting to be explored by brilliant minds. Off the bat there are some sure-proof use cases that this feature brings to our world of web3:
Nft Buyout Request
An NFT (non-fungible token) buyout request is a request to purchase a specific NFT from its current owner. If someone wants to purchase a specific NFT, they can make a buyout request to the current owner. The current owner can then decide whether or not to accept the request and sell the NFT to the interested buyer. The terms of the buyout, such as the price and any other conditions, are typically negotiated between the buyer and the seller.
It’s important to note that NFT buyout requests are not the same as regular buy or sell requests. NFTs are unique and cannot be easily replaced, so a buyout request is typically used to specifically request the purchase of a particular NFT, rather than simply requesting to purchase any NFT of a certain type.
Liquidation Warning
A liquidation warning is a notification that a company or individual is in danger of being forced to sell assets or go out of business due to financial difficulties. A liquidation warning can be issued, and it usually includes a deadline to address the financial problems so you can take necessary steps or arrangements such as closing a trade, swapping a volatile asset to a stablecoin like usdc, etc.
Filled Orders
A filled order may refer to a trade that has been completed on a decentralized exchange (DEX) or other platforms that utilizes blockchain technology. In a DEX, orders to buy and sell tokens or other assets are typically recorded on a blockchain, and they can be matched and executed automatically by smart contracts or other types of automated processes.
When an order is filled on a DEX, it means that the trade has been completed and the assets have been transferred from one party to another. The details of the trade, including the price and quantity, are typically recorded on the blockchain, which allows for transparency and security. DEXs have become increasingly popular in recent years due to their decentralized nature, which allows users to trade assets without the need for a central authority or intermediaries.
In the web3 space, filled orders may also refer to trades that have been completed on other types of platforms that utilize blockchain technology, such as prediction markets, NFT marketplaces, and other types of Dapps. In these platforms, orders may be filled in a similar way to DEXs, with the details of the trade recorded on the blockchain and the assets transferred between parties.
Dao Proposal Updates
A DAO (Decentralized Autonomous Organization) proposal update is a change or modification to an existing proposal that has been submitted to a DAO for consideration. A DAO is a decentralized organization that is run by a set of rules encoded in smart contracts on a blockchain. Members of a DAO can propose changes to the organization’s rules or operations, and other members can vote on whether to accept or reject the proposals.
A DAO proposal update is typically used to make changes or refinements to an existing proposal that has already been submitted for consideration. For example, an update might be used to provide additional information or clarify the details of the proposal, or to make changes based on feedback from other members.
DAO proposal updates are an important part of the decision-making process in a DAO, as they allow members to refine and improve upon their proposals and ensure that the organization is making informed and well-informed decisions. Hence, this is a feature I think all Daos out there need to utilize.
New Raffle Listings
In a web3 raffle, the use of blockchain technology can provide a secure and transparent way to conduct the raffle and ensure that the drawing is fair and the results are verifiable. A web3 raffle listing might include information about the prizes being offered, the cost of tickets, the date of the drawing, and any other relevant details, as well as information about how the raffle is being conducted using blockchain technology.
Social Posts
Ugh, Well… we all know the use case here, nothing new to see.
NFT STICKER PACKS
wow emojis have never been cooler
One of the more innovative features of Dialect’s app is the inclusion of NFT Sticker Packs. These are NFTs that can be used in chat to express oneself with friends, adding a new level of social and expressive functionality to the world of NFTs. Dialect is working with various artists to create unique NFT Sticker Packs, which can be used by users of the app to add a touch of personality and creativity to their messaging. In fact, the popularity of NFT Sticker Packs has been significant, with over 50,000 NFT Sticker Packs being sold in the first month after their launch.
The use cases for these are massive. Essentially, Dialect is giving power to an otherwise ‘just for fun’ feature we have. You and I send stickers to our friends & family to add some fun to our conversations. Dialect is tapping into the innovative supply of the blockchain by adding real value to these stickers. To give insights on how a simple Nft sticker can provide real-world value to us.
There are several on-chain benefits to owning a non-fungible token (NFT) sticker pack:
- Ownership: NFTs provide a clear ownership record on the blockchain, allowing you to prove ownership of a digital asset.
- Authenticity: NFTs can be used to verify the authenticity of a digital asset, such as a piece of artwork or a collectible.
- Scarcity: NFTs can be used to create scarcity by limiting the number of copies of a digital asset that exists.
- Transferability: NFTs can be easily transferred between parties using the Dialect platform, allowing for quick and secure transfers.
- Interoperability: NFTs can be used on multiple platforms and can be easily integrated into other applications, making them highly interoperable. So basically you can get creative and actually build a whole business around a sticker! I know, crazy right?
- Programmability: Many NFTs have built-in smart contract functionality, allowing them to be programmed to perform certain actions or trigger events when certain conditions are met. A stale sticker pack can be transformed into a pack of utility.
hehe, some Alpha
7. Liquidity: There are now many markets and exchanges that support the buying and selling of NFTs, providing liquidity for NFT holders. Examples include magic Eden, open sea, rarible etc.
There’s a popular saying in the web3 space, ‘fortune favours the early birds’. Okay, maybe I just made that phrase up but it’s true, the biggest gains happen when you are in early. Currently, they are giving away fantastic sticker packs to folks who sign up to their Dapp. If i were you I would pause this article and head straight to the app store if you haven’t already.
Onboarding: Dialect is currently available on the app store with a bold promise on the website about launching on Android soon.
Step 1: Download the app on the app store.
Step 2: Enter your unique username and proceed, mine is ‘y2danny’.
Step 3: Click next on the onboarding screens.
Step 4: The Home Page- If you are reading this article somewhere around the time when it was published then you are in luck because you are early. For that, Dialect will gift you a sticker pack. Click the claim button to get them. It takes just about 5 seconds to arrive in your wallet.
yay nothing better than some freebies
Step 5: Dashboard
A look at the screens when you click the referral button at the top right and the sticker packs page.
The Profile Page
Navigating the dialect app is extremely easy. The UX is amazing, especially when compared to the dapps we currently have in the space. Dialect automatically creates your wallet accounts for you. You get the Solana coin of course and the usdc as your designated stablecoin.
Quick brief of the ‘Danger Zone
A seed phrase, also known as a recovery phrase or a backup phrase, is a set of words that can be used to restore your cryptocurrency wallet. It is a list of words that are generated when a wallet is first created, and it can be used to recreate the private keys associated with that wallet if they are ever lost or forgotten.
A seed phrase typically consists of 12–24 words that are selected from a predetermined list of words. These words are chosen at random and are used to generate the private keys for the wallet. It is important to keep the seed phrase in a safe place, as anyone who has access to it will be able to access the funds in the wallet. It is not uncommon for people to write down their seed phrase on a piece of paper or store it in a secure location, such as a safe deposit box.
It is important to note that the seed phrase and private key should not be shared with anyone, as it provides access to the funds in the wallet. It is also important to use a strong and unique seed phrase, as using a weak or easily guessable phrase could potentially compromise the security of the wallet.
A private key is a secret cryptographic key that is used to access a cryptocurrency wallet. It is a long string of letters and numbers that is generated when a wallet is first created and is used to sign transactions made from the wallet. The private key is a unique identifier for the wallet and is used to prove ownership of the funds in the wallet. It is important to keep the private key safe and secure, as anyone who has access to it will be able to access the funds in the wallet.
Private keys are typically stored in the wallet software and are protected by a password or passphrase.
For Developers looking for a step-by-step guide on how to utilize Dialect to build your own interactive Dapp, please refer to the full doc provided by the Dialect team.
CONCLUSION
Overall, Dialect is a powerful platform that enables dapp developers to communicate effectively with their users and provides a range of features that enhance the user experience. Its open-source nature and flexibility make it easy for developers to integrate the platform into their dapps, while its app provides a showcase for the potential of dapp notifications, smart messages, and NFT Sticker Packs. By teaming up with over 50 different projects across Solana, Dialect is helping to build a wide range of use cases in the web3 world, including DeFi, NFTs, DAOs, multi sig, and more. With its app already live on iOS, Dialect is well-positioned to continue driving innovation and improving communication in the world of dapps.
References
