The Blank team is currently doing the final round of their wallet’s main-net beta testing. The testing process is part of Blank wallet’s 3 phase release plan. The project is allowing only a few testers to thoroughly test and review the wallet’s functionality with real funds/assets. Testers can currently connect and work with the Ethereum, Arbitrum, Binance Smart Chain, and Polygon networks.
The Blank wallet is WEB 3.0 compatible browser extension wallet. Users will be able to install and set up the application once it opens for public use.
The main USP of the wallet is its privacy feature that hides the details of network transactions of the users. However, the privacy option is currently available for only Ethereum network users, and you have to pay a high gas cost to get it.
Other supporting network users can use the wallet at a cheaper cost but the privacy feature is currently not implemented for them.
So, in this guide, we will explain how you can install and set up the Blank wallet. And later we will test and check the deposit and withdrawal features of all the supported networks. The team has helped us with the email whitelisting process to carry out the tasks.
Note that due to high gas cost we couldn’t capture the result of the privacy feature associated with the Ethereum network transactions.
Install Blank Wallet
The project helped us with the Google Chrome link to install the wallet application.
Click on Add to Chrome button. The browser will ask for your permission to install the application in your extension. Approve it.
You will find the below-highlighted icon in your browser extension.
Once it is installed, you will immediately see the Get Started window for the Blank wallet.
Click on it. Users will now get two options for wallet setup:
- Create A Wallet
- Import Your Wallet
If you are a new user, then click on Create A Wallet button.
Next, the application will ask you to set up a wallet password and show you the backup phrase that you need to store safely. After that, it will ask you to verify your backup phrase, and once verified, you will receive a setup completion message.
You can access the wallet application installed in your browser.
Login to your Blank wallet now.
As you can see from the above screenshot, the wallet supports the following networks:
- Binance Smart Chain
We will test the functionality of all the networks separately but with no privacy.
Ethereum network users can use the Blank wallet to send or receive funds. We will test the deposit and transfer features with ETH.
To deposit funds in your Blank wallet, you need the public/receiving address.
You can get the public address by going to the Settings-> Account, and then clicking on the Receive Funds button. It will display the address and the QR code that you can copy and share.
We have used the public address and transferred some ETH to our Blank wallet.
To transfer funds from your Blank wallet to the other address (Ethereum network), click on the Send button. Now enter the recipient address and the amount that you wish to send.
Finally, confirm the process.
Privacy In Ethereum Network
As said earlier, the Blank wallet offers transaction privacy features to its Ethereum network users. However, the gas cost is comparatively higher than usual.
The platform currently allows you to deposit assets like ETH, DAI, USDT, USDC, cDAI, and WBTC.
To achieve privacy, the application uses zkSnark technology. Users who opt for privacy deposits are required to deposit only a few sets of amounts. For Example, in the case of Ethereum you can deposit only .1, 1, 10, and 100 ETH.
This ensures that your funds will get mixed up in a pool of transactions and help in achieving anonymity.
For each deposit, users are given a secret code that they need to provide when they choose for withdrawal. It is recommended to use a separate address (other than the deposit address) to withdraw for maximum privacy. You can also create a new Blank account on the fly during withdrawal.
Arbitrum network users can use the Blank wallet to explore the dApps at cheaper gas costs. However, it doesn’t support privacy features.
Follow the same method to get your receiving/public address to receive funds in the Arbitrum network.
Transfer funds from your Blank wallet to another address in the Arbitrum network.
Binance Smart Chain
We have tested the deposit and send feature of the Blank wallet. Check the Deposit and Send section for results.
For Polygon, the Blank wallet deposit and send features work pretty well. Check the results.
You can perform the following activities by going to the settings tab.
- Create an Account– Using this option, you can create and manage multiple accounts into a single blank wallet
- Export Account data- Copy and save your account-related data like a private key, seed phrase, and JSON file
- Block Explorer- Link to the explorer of the selected network
- Address Book- You can save frequent user account here
- Connected Sites- Show the list of connected sites
- Lock Timeout- Set wallet timeout setting
We have thoroughly tested the wallet and it works as expected. The wallet supports privacy features in the Ethereum network. However, the gas cost is a bit high. Arbitrum, BSC, and Polygon network users can work with dApps at a cheaper cost, but they have to compromise privacy. We hope that if the privacy features are extended to the layer 2 network, then users can enjoy the benefits of transaction privacy at a low cost.
In the end, we would like to thank the Blank team for allowing us to test and review the wallet’s functionality.
Read More: How To Use The Phantom Wallet