Download ZilPay Wallet Extension | Official Website
ZilPay Wallet is a browser extension that supports the following web browsers: Brave, Firefox, Opera, and Chrome. The wallet allows you to connect to the Zilliqa blockchain without running the entire node. It provides a connection between the web browser and the blockchain, and it eases Zilliqa usage and allows you to run Zilliqa applications from within their browsers. Developers can merge smart contract calls, which allows the wallet to work with dApps (decentralized applications). This makes it simpler for developers to interact with the Zilliqa blockchain.
What is Zilliqa (ZIL)?
Zilliqa is a blockchain designed to enhance the scalability and transaction processing of Ethereum (ETH). Zilliqa is a good foundation for developing networks and apps that need high transactions throughout.
Zilliqa is an ERC-20 blockchain aimed to provide high transaction throughput. Presently the blockchain can manage 2,828 transactions every second. ZIL is the utility coin of the Zilliqa network that one can use to pay the transaction processing fees and have smart contracts performed.
Zilliqa blockchain achieves high transaction throughput by employing the sharded database. In the sharded database, the network’s nodes are part of the subgroups that support a particular shard instead of the complete network. Transactions occur in every shard; ultimately, the transactions from every shard are put into blocks and connected to the initial chain. Zilliqa doesn’t utilize a PoW (proof-of-work) consensus algorithm, unlike other blockchains. Rather, it utilizes a consensus algorithm integrating PoW and pBFT (practical Byzantine fault tolerance).
Why Use ZilPay Wallet Extension?
Decentralized Wallet: The decentralized nature of the ZilPay Wallet Extension gives you full ownership of your wallet and assets.
A Portal to DApps: ZilPay users can access all the key decentralized applications (dApps) available on the Zilliqa blockchain. Also, you can become part of a safe, decentralized digital world and explore ZRC2 tokens and its apps.
Interoperability: ZilPay lets you pay friends or others anywhere with the capability to import any wallets on the chain.
Buy, Spend, and Swap Assets: ZilPay offers a mobile app and browser extension; the wallet equips users with a key vault, token exchange, etc.
NFTs: You can easily gather your NFT (non-fungible tokens) with ZilPay Wallet.
Guide to Creating a New Wallet on ZilPay Wallet Extension
ZilPay is a web browser extension that supports Firefox, Brave, Chrome, and Opera. In this example, we will see how to download the ZilPay Chrome Extension.
Download the ZilPay Wallet Chrome Extension
To begin, you must navigate to the Chrome browser and go to the official ZilPay Wallet web page.
On the home screen, locate and hit the Get Chrome Extension tab.
On the pop-up window, you should read the message and pick the Add to Chrome option.
After installing the ZilPay extension, you can find it by hitting the ZilPay icon.
To pin the wallet on your browser, move to ZilPay and hit the Pin icon.
Creating a New Wallet
After installing the browser extension, you will reach the home screen of ZilPay Wallet. You should tap the Create tab to set up a new wallet here.
On the next page, you will obtain a recovery phrase with 12 words. Ensure you record these words correctly and tap on the Continue icon. The secret seed phrase is the sequence of words that permits users to restore their accounts or wallets. This seed phrase is something that you should store somewhere secure.
Then, you should validate the secret phrase by arranging the words in the correct sequence.
After validating the seed phrase, a new page will launch where you can create a hard-to-break password to safeguard your wallet and assets.
After this, agree to ZilPay’s User Agreement and Privacy Policy and tap Continue.
Finally, your ZilPay Wallet is ready to purchase, swap, spend and transact tokens.
How to Stake ZIL Token on ZilPay Wallet Extension
Staking ZIL tokens lets you obtain rewards by delegating the assets to Everstake. By staking the tokens, you allow them to work and increase their earnings while holding them in your account. This guide will elaborate on the procedure of staking ZIL tokens using ZilPay on the Zillion staking platform.
First: Sign In to ZilPay
First, you should launch the ZilPay Wallet extension or app on your devices and sign in to your wallet by providing the password.
You must have ZIL tokens in your wallet for staking. If you don’t, you must top up your wallet by swapping tokens on an exchange and transacting them to your ZilPay address.
Second: Connect ZilPay to Zillion
Move to the Zillion platform and hit the Sign-in tab.
Then, tap on the Delegators option and choose ZilPay from the list.
Next, hit the Unlock Wallet tab.
After this, you see the overview block on the dashboard, which means you have connected to ZilPay.
Third: Choose the SSN Operator and Delegate ZIL
Move to the Staked Seed Nodes tab and choose an SSN operator.
Hit the Stake tab next to the chosen SSN operator.
Provide the amount of ZIL token and tap on the Stake option to confirm. Note: you should pay a fee of 60 ZIL for the transaction, and the lowest amount is 10 ZIL.
After this, you will reach the ZilPay Wallet extension, where you must accept the transaction by hitting the Confirm tab.
After completing the transaction, you will obtain the number of the transaction. You can check the transaction in the My Staking Portfolio tab.
Fourth: Claim Reward
You should tap on the Manage button and select the Claim Rewards option.
The amount of the rewards will become visible in the Rewards section. Hit the Claim tab to claim your rewards.
Conclusion
ZilPay Wallet Extension is an open-source wallet dApp (decentralized application) on the Zilliqa blockchain. Each dApp in the ecosystem takes advantage of ZilPay as they develop around it. ZilPay is a great option for purchasing relatively small amounts of ZIL tokens. It’s a great way to get familiarized with receiving and sending cryptocurrencies, as the wallet interface is straightforward.