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RE: Homework task 7 by professor @gbenga decentralized finance
Thanks for being a part of my class and for participating in this week's assignment. I hope you learned from the class as the aim of the school is to teach and allow people to learn alongside.
Trust Wallet has existed for a long time that it has built trust in the heart of all.
Question
What will happen to people's funds, If Trust Wallet stops functioning?
Question
What will happen to people's funds, If Trust Wallet stops functioning?
Answer
This will have a big negative impact on the crypto space; trust wallet has millions of users globally and if such a scenario happens millions of dollars will be lost or locked out.
blockchain security will lose users' credibility and trust; there will be less trust from users which can lead to the withdrawal of funds from other relative wallets due to fear.
Some important info
A. users need to understand that trust wallet only serves as a gateway to blockchain which means funds are not stored on the wallet but the user's address.
With the above fundamental noted the probability of losing funds when a wallet closes is likely very hard since you have full control over your private keys there are chances of recovering funds or moving them to another wallet in case any problem may occur.
Thanks much.