A Phantom wallet is a cryptocurrency wallet designed specifically for the Solana blockchain. Solana is a high-performance blockchain known for its fast transaction speeds and low fees, and Phantom is one of the most popular wallets used to manage Solana-based assets. Let's break down what a Phantom wallet is and how it works:
1. Cryptocurrency Wallet:
- A cryptocurrency wallet is a digital tool or software application that allows users to store, send, and receive cryptocurrencies. These wallets come in various forms, including hardware wallets (physical devices), software wallets (applications), and online wallets (web-based services).
2. Designed for Solana:
- Phantom wallet is tailored for the Solana blockchain. It primarily supports Solana-based tokens, also known as SPL tokens. These tokens are native to the Solana blockchain and can represent a variety of digital assets, such as cryptocurrencies, non-fungible tokens (NFTs), and more.
