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Deep Dive with Richard Burton, Building Balance and WalletConnect

Richard will be live 29th March at 10am PST

posted 9 months ago

with or if you'd like to join the discussion.
Richard Burton
TokenDaily exclusive. We are still in private beta but if you would like to check Balance Manager: https://manager.balance.io/

It only works with MetaMask right now. If you have any issues, please ping us on the Intercom chat bubble in the bottom-right or [email protected]balance.io.

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Ben Tossell
@ricburton ME: 0x34A4Dd196Ab83166c8C9935D5A6f60f2a02a905a
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Richard Burton
@ricburton @soonaorlater gimme dat address :)
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Richard Burton
@ricburton Also, if you want some totally worthless AVO tokens. Paste your Ethereum address in here. They're pretty dreams.
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Soona Amhaz
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Richard Liriano
@ricburton 0x2f830f627b00e3fa7ac4265308af93804a066e49 thanks.
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Richard Burton
Alright everyone. I am going to head back in to buidl mode. I will check back later today and I believe I get email notifications if you ask me more questions.

You can always ping me on Twitter at any time: https://twitter.com/ricburton
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Ben Tossell
Where did WalletConnect come from? I knew about Balance but seems there has been some awesome movements in a different product... how are they linked?
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Richard Burton
@bentossell Hi Ben,

Here are the products we are working on:

Manager (launching this week) - A web-based tool to interact with browser-based Ethereum wallets like Metamask.io and hardware wallets like Trezor and Ledger.

Exchange (launching next week) - An easy way to buy any token with any token that you already have by connecting to an index of exchanges.

Wallet (4-6 weeks) - A mobile Ethereum wallet that syncs with Manager so you can buy tokens on the web and use them on the phone.

WalletConnect.org (4-6 weeks) - An open protocol to allow dapps on the web to talk to wallets on the phone.

Today, dapps are really hard to use. You need to install a Chrome extension, move Ether into it, and handle lots of back-and-forth. WalletConnect is something we built for ourselves. We wanted our mobile wallet to work on the web. Here's is a 10-second clip of the working prototype: https://twitter.com/ricburton/status/978509303500984320?s=21

Balance Wallet will be a product we give away for free and make money from through trading fees and other sources. WalletConnect is an open standard which we would love to be adopted by wallet makes, dapp creators and other protocols.



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Soona Amhaz
Thanks for joining us Richard!

Curious what your thoughts are on:
Something people in crypto are worried about but is a nonissue:

Something that people in crypto should be worried about but arent paying enough attention to:
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Richard Burton
@soonaorlater

Something people in crypto are worried about but is a nonissue:

Prices. They will fluctuate. The value, measured in developer brain cycles applied and utility to humans, is compounding nicely.

Something that people in crypto should be worried about but arent paying enough attention to:

Ethereum is not a shared database. It is insanely hard to index and get access to the data you want. Just try. It requires custom code bridges and huge amounts of in-depth knowledge. The data is out there, it just incredibly hard to parse.
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Erik Torenberg
Richard - what do you believe about the space that others don't?
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Richard Burton
@eriktorenberg I think the most under-appreciate fact about Ethereum is that it gave an enormous community of nerds some degree of financial freedom. It enriched a community as well as the founding team. The protocols launching today might have great tech, but they are not going to appreciate in value 4000x.

What this means is that there are loads of people who feel a sense of gratitude toward a protocol. This really hit me at EthCC.

https://medium.com/balance-io/the-buidling-blocks-5770c698007f
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Erik Torenberg
can you share the evolution of the idea?
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Richard Burton
@eriktorenberg 4 years ago I did some client work for Gavin Wood and Vitalik, these two nutters who were hanging out in the valley. They couldn't pay me in real money but promised me Ether.

2 years ago I started working on a personal finance two with two friends called Balance.

1 year ago, the ETH spike dragged me back down the rabbit hole.

6 months ago we raised some money through crowdfunding because we did not have a good idea for a token.

2 months ago we killed our macOS and iOS apps that linked to crypto-exchanges to focus on developing directly with protocols.

This week we are launching Balance Manager, a tool manage your Ether and token balances in MetaMask.

We built WalletConnect to link our mobile Balance Wallet to Balance Manager. We love the experience so much we want to make it a standard.
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Ben Tossell
Would you/do you share your crypto investments publicly?
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Richard Burton
@bentossell Happy to. Majority ETH. Solid amount of Bitcoin. BCH can do one. ZRX, OCN. Some others.

I am backing a few small teams that are doing great things that will help Balance.

I don't trade or invest. It is a distraction. I am only backing things I want to buidl on.
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Ben Tossell
How has the product evolved over time?
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Ben Tossell
What are your favorite projects out there right now?
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Richard Burton
@bentossell Things I have or will invest in shortly: Supoku, NexusMutual

Things I have not invested in: NuCypher, Counterfactual
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