Recently, WalletConnect ($WCT) revealed a remarkable technological innovation in its White Paper. This is an information transmission network composed of multiple Nodes, specifically designed to connect digital Wallets with various decentralized applications. The uniqueness of this technology lies in its direction of Decentralization.

WalletConnect is set to be renamed 'Reown' and plans to gradually decentralize, allowing other companies to participate in the operation of network nodes. This move will significantly enhance the level of decentralization and stability of the network.

Reown's future business model is quite creative, similar to the operational model of WordPress. Just as over 40% of websites globally are built using the free tools provided by WordPress.org, a significant number of users still choose to pay for the hosted services of WordPress.com. Reown plans to emulate this model, shifting from the role of controlling core infrastructure to becoming a business platform that provides WalletConnect usage and support services.

What is even more noteworthy is that WalletConnect has launched a token called WCT. These tokens will be distributed to users and developers within the community, making them co-owners of the future of this technology, equivalent to becoming 'consensus shareholders'. This initiative not only lays the foundation for the decentralization of the entire network but also provides momentum for its long-term development.

This practice of decentralizing ownership of core technology to the community can be considered the most visionary step in WalletConnect's strategic layout. It not only increases user engagement but also enhances the overall stability and sustainability of the ecosystem. With the continuous development of Web3 technology, this innovative initiative by WalletConnect will undoubtedly have a profound impact on the industry.