Here at Pillar HQ, we’ve been working hard behind the scenes to make sure our community can turbocharge their wallets with the power of smart contracts.
We’re excited to finally announce the Pillar Smart Wallet early access program!
You could be selected to join our early access group, helping us to iron out the creases and launch the next era of crypto innovation.
If you’d like to take the Smart Wallet and Pillar Payment Network for a test run, watch this video to learn how to get involved or check out the images below.
After you sign up, you’ll join a queue and be notified if you’ve been selected.
If you’re accepted, you’ll be able to start playing with all the new features we’ve been working on, such as…
If you have a Pillar Wallet now, you’ll soon be offered the option to upgrade your account to the Pillar Smart Wallet.
This means you’ll be moving your funds from your device and into your very own personal smart contract, which ‘exists’ in the blockchain cloud.
→ If you want to learn more about how your new smart-contract account work, check out our guide for dummies.
Our star community ambassador Bitcuriousmom recently sat down with Drew to get the first ever look at how the Smart Wallet works.
Check out the live demo here, which was filmed during Berlin Blockchain Week!
Perhaps the most exciting new feature of the Smart Wallet is the PLR meta-token — a universal token that allows you to pay for anything, no matter what cryptocurrency is accepted, by just owning this single one!
Your PLR tokens will be automatically converted into any other kind of token or cryptocurrency upon payment or transfer — even across different blockchains — making it the last token anyone will ever need.
This function is supported by the Pillar Payment Network (PPN) which is built into the Wallet. All these transactions will live in closed payment channels, making them:
💰 Free — no gas fees
🚦 Instant — no confirmation wait
🚪 Private — off-chain
The PPN is a Layer 2 solution, helping to solve blockchain’s scalability issues and create a frictionless crypto experience.
One of the biggest risks with blockchain-based accounts is a complete loss of funds. If you lose your private key (password) or your device — and you haven’t safeguarded your backup seed phrase — then your funds are lost forever.
We want to make the Pillar Wallet as loss-proof as possible, while still ensuring only users are in total control of their private keys.
With our new smart wallet upgrade, you will be able to assign recovery agents to help keep your private key safe, so your funds are always recoverable!
Recovery agents are trusted individuals, third-parties and/or secondary devices (such as hardware wallets) that you nominate to help you recover access to your Smart Wallet if you lose your device or master key.
One of the more interesting features offered by smart contract accounts is the ability to create separate, independent personas — or spending “profiles”. You can switch between these different personas depending on who you are interacting with, whether people or services.
This will make transacting and storing your funds extremely convenient and manageable. Just like you have different bank accounts today — a credit card for business purposes or a debit card for happy hour — with Pillar you will set up different accounts for different spending purposes.
By dividing your digital identity into multiple, individual personas, it becomes much harder to trace and exploit. It’s also harder (and less appealing) to try and steal funds from multiple accounts instead of just one.
This feature will be included in our next round of updates, so one of your many personas should keep an eye out!
The Pillar Smart Wallet has been built for everyone. We want to make your entire cryptocurrency experience as simple, multi-dimensional and secure as possible.
Get smart-ed here → Download the Pillar Wallet for iOS and Android