FAQ
Q1. Who owns Peniwallet?
PeniWallet is developed by Penilabs Innovations Limited, a blockchain company within the SMC DAO Ecosystem, led by Sir Mapy, the creator of Wiki Cat Coin.
Penilabs was created by Sir Mapy and is tasked with the primary role of creating innovative blockchain products for the SMC DAO community and the broader digital economy.
Q2. Why doesn't Peniwallet have integrated DApps?
We made the decision not to integrate DApps into Peniwallet for two primary reasons: Security and Simplicity.
Security Risks Integrating a DApp directly into the wallet could introduce additional attack vectors. DApps are often built on smart contracts, which can be vulnerable to bugs, exploits, or malicious code. By keeping the wallet separate from DApps, Peniwallet significantly reduces the risk of exposing users' private keys or funds to these vulnerabilities. Our priority is to ensure that your assets remain as secure as possible, minimizing potential threats from third-party applications.
Simplicity for Users Many cryptocurrency users, especially those new to the space, prefer a simple, streamlined experience. Adding a DApp interface could complicate the user experience, making it harder for less tech-savvy users to manage their assets securely. Peniwallet prioritizes ease of use and clarity over offering advanced features that only a subset of users would need. This approach ensures that all users, regardless of their technical expertise, can confidently store and manage their cryptocurrencies without unnecessary complexity.
Q3. Are there plans to support other blockchains?
Yes, while Peniwallet was initially built for the BNB Chain primary because of Wiki Cat but we have exciting expansion plans on the horizon. Here's what you can expect:
Expanding Blockchain Support Peniwallet is committed to enhancing its versatility and appeal to a broader user base by expanding support to other blockchain networks. Our roadmap includes integrating both EVM-compatible networks (such as Ethereum, Polygon, and Avalanche) as well as non-EVM blockchains (like TON, Solana and Cardano). This expansion will allow users to manage their assets across a wider range of platforms, providing greater flexibility and choice.
Feature Integration Across Blockchains Our goal is not only to add new blockchains but also to ensure that all of Peniwallet’s features are seamlessly available across these networks. Whether it's our unique Spray feature, Gasless transfers and swaps, we plan to introduce our full suite of features into each supported blockchain. This comprehensive approach ensures that our users enjoy a consistent and feature-rich experience, no matter which blockchain they choose to interact with.
Q4. How Does Peniwallet Handle Security?
Peniwallet prioritizes your security through a non-custodial approach and robust protective measures:
Non-Custodial Design As a non-custodial wallet, Peniwallet ensures that you retain full control of your private keys. This means only you have access to your funds, enhancing your security and privacy.
Advanced Encryption Peniwallet uses strong encryption methods to protect your private keys and sensitive data, making it significantly harder for unauthorized parties to access your information.
Local Storage Your wallet data is stored locally on your device, reducing the risk of exposure to online threats. This local storage method helps safeguard your assets from potential hacks or breaches.
Q5. What Happens If I Lose My Device?
As long as you have your seed phrase or private key, you can restore your wallet on a new device. Always keep your seed phrase secured and out of sight.
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