The unique ability to create a distinct wallet address is one of the many features the Vanity team plans to offer.
Introducing Vanity Token
Vanity, or $VNY, is a unique token that provides custom wallet addresses for Bitcoin, Ethereum, Binance Smart Chain, Litecoin and Dogecoin blockchains. Vanity generates customizable non-proxy addresses, visible across blockchain explorers.
Vanity was officially launched on May 28th, 2021. The developer and founder are based out of Italy.
Vanity’s main goal is to simplify the experience of crypto users, who are often confused by the intricacies of how wallets interact with different blockchains.
$VNY is now available for purchase via PancakeSwap, which has locked the Vanity liquidity pool for a three-year period.
Vanity Use Cases
Vanity seeks to improve the security of the blockchain sector by improving trust in wallets. By allowing users to create customizable, recognizable addresses, Vanity eliminates any confusion in regards to selecting the proper address.
The benefits of these addresses include miners being able sort their rigs efficiently, easy wallet identification, and the ability to create a personalized address with unique phrasing.
Some notable examples of Vanity addresses include 1SaToShiYPiWYEevVwxYG6hkDfAT9N9Fy, commemorative of the mysterious creator of the Bitcoin, Satoshi Nakamoto, and 0xC0FFEE1268A4aAe653a4a9Ca81e183dCCAD1a029, referencing the favorite morning drink of many people in coffee.
Vanity Wallet Security
Only the requester of the customizable address has access to the private key needed in order to generate the Vanity wallet address. Using the customer’s public key, Vanity creates a partial private key which is generated using high GPUs computing power. Upon receiving the partial key, users will use the $VNY offline tool to merge the two keys together. This creates a new key for the Vanity wallet address.
An audit by Solidity Finance has confirmed the security of the smart contract of the token.
$VNY Token offers frictionless fee redistribution, as well as automatic liquidity provision for the Vanity liquidity pool. Deflationary measures reduce the overall circulating supply, ensuring that Vanity maintains its price point.
Vanity is also developing a Non-Fungible-Token (NFT) marketplace that uses $VNY as its currency. Vanity has outlined further details in their official Litepaper.
While Vanity has not offered a complete future schedule to the public as of now, the team has assured its community they have further plans beyond custom wallet addresses. Interested users should keep an eye on the social media handles of the company in order to learn of any new products or features.
The ability to create a customized wallet address is a feature many crypto users will find appealing. If Vanity is able to add to their product, they could see increased exposure to the crypto community. The NFT marketplace is currently the next thing on the Vanity agenda – but more will be coming soon!
To learn more about Vanity Token, visit the following links
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.