Solana wallet Phantom added support for Ethereum & Polygon blockchain network to provide multi-network support for the wallet users.
Phantom is a non-custodial (or say self custody) Solana crypto wallet and browser extension. This wallet can be utilized for managing digital assets and accessing decentralized applications (Sol & Solana tokens, NFTs, & DApps). The first time the Phantom team announced support for Ethereum & Polygon to manage NFTs in the wallet, in Nov 2022.
On 1 May 2023, Phantom announced that all the phantom wallet users can easily interact with the Polygon & Ethereum network without switching to other wallets.
The Phantom team also said that it will be better for crypto investors to use the Phantom wallet to complete crypto related activities in one place under the roof of Phantom, as the automatic security feature of this wallet warns users of suspicious NFTs addresses/websites.
Such efforts by phantom wallets are showing that the future of crypto will depend significantly on multi-chain services.
In early 2022, Ethereum co-founder Vitalik Buterin said that the future of crypto will rely on multi-chain but cross-chain interoperability will not be there citing several security issues.
Hack attack on Solana wallets
In Q3 2022, Many reports surfaced in the crypto sector over hacking attacks on Phantom wallet but later investigation found that Slope wallet was exploited.
According to the Phantom Wallet team, only those phantom users faced problems who imported or exported the private key from Slope to Phantom & vice versa.