About Your Wallet

All about your wallet in Revelator Pro

How are Enterprise assets stored on the blockchain?

As a company using Revelator Pro, your account will receive its own instance of a Revelator Wallet. These wallets are effectively a smart contract that acts as if it were a regular wallet. It can call other smart contracts, send and receive NFTs/tokens and cryptocurrencies (both native and non-native).

Its main feature is that its transactions are not initiated by the wallet itself but by one of the pre-configured Externally Owned Accounts (ie Admins within an enterprise account) that are on the wallet's whitelist and controlled via Revelator's frontend and backend infrastructure.

Security

On any blockchain, users manage their assets with a cryptocurrency wallet. If a user wants to transact with assets held in their wallet, they need to confirm (aka "sign") a transaction with their wallet's private key to prove they are its rightful owner.

When a user wants to allow a third-party to act on their behalf or to automate a transaction, that requires access to their wallet and their wallet's private key, which leads to a compromise in the security of their wallet.

Using our wallet is different. Authentication is orchestrated through whitelisting, rather than by sharing a private key, so when it receives a transaction from a whitelisted wallet, it is then delegated accordingly with no extra steps required. This makes interacting with NFTs, related sale revenues, and resale royalties frictionless for your enterprise.

Funding

A standard crypto wallet needs to be constantly funded with a blockchain native cryptocurrency in order to be able to submit transactions on-chain. If it runs out of these funds it will cause unexpected downtime of the service that depends on it.

Our wallet features the ability to have multiple wallets initiating transactions on behalf of a wallet used by Revelator to create a wallet pool fund. This wallet pool is then responsible for covering all of the operational costs on the blockchain that each Revelator Pro customer incurs while using its own wallet.

Each Revelator Pro account is then later billed with these costs in their native fiat currency (ie USD, EUR, etc.) as part of their regular billing terms. This way, Revelator takes responsibility for each wallet’s availability to make transactions that are essential for the availability of their service.

Setup

Each Revelator Pro account with a wallet is created on-demand and doesn't need to be funded upfront before it can begin making transactions on the blockchain. This way, onboarding new Revelator Pro customers is simplified as much as it possibly can.

Ownership

The wallet is owned by the Revelator Pro account that it's connected to.

If for any reason you wish to remove the wallet functionality from your Revelator Pro account, please contact your customer success representative.