Wallet and Transactions

Introduction

ParaPresent uses a smart contract based wallet system that allows users to interact with the blockchain in a simple and secure way.

When a user registers on the platform, a unique cryptographic key pair is generated automatically. The private key is securely encrypted and stored in the user’s account, ensuring that only the account owner can access and use it.

At the same time, a personal smart contract wallet is deployed on the blockchain.
This smart contract becomes the user’s blockchain account and is fully controlled by the cryptographic key generated during registration.

Only the holder of the private key can authorize actions from this wallet.
This means the user remains the sole controller of their assets and permissions, while still benefiting from a simplified user experience provided by the platform.

Smart Contract Wallet

Unlike traditional externally owned accounts, ParaPresent uses smart contract wallets to manage user interactions with the blockchain.

A smart contract wallet acts as a programmable account that can execute predefined logic while maintaining strict ownership rules.

For each user:

• a personal smart contract wallet is deployed on the blockchain
• the user’s cryptographic key is registered as the owner of this wallet
• only signatures generated with this key can authorize wallet actions

This architecture provides two important benefits:

• Full user control — only the user can approve operations involving their assets
• Flexible platform functionality — the wallet can securely interact with ParaPresent features

Even though the wallet operates through smart contracts, ownership remains entirely under the user’s control.

Transaction Authorization

All actions that modify blockchain state must be authorized through cryptographic signatures.

When a user performs an action on the platform — such as creating or transferring an NFT — the request is signed using the user’s private key. This signature proves that the action has been approved by the wallet owner.

The signed request is then processed by the blockchain network, where the platform’s smart contracts verify the signature before executing the operation.

This mechanism guarantees that:

• only the wallet owner can authorize actions
• signatures cannot be forged
• all operations remain cryptographically verifiable

Relayer Service

To simplify the user experience, ParaPresent uses a relayer service.

Instead of requiring users to broadcast transactions directly to the blockchain, signed transactions are sent to the relayer service. The relayer submits the transaction to the network on behalf of the user.

This approach allows the platform to streamline interactions with the blockchain while preserving full user authorization through signatures.

The relayer does not control user assets and cannot perform any actions without a valid cryptographic signature from the wallet owner.

Transactions with USDT

ParaPresent is designed so that users can interact with the platform using USDT only.

When a transaction is executed through the relayer service, the cost associated with the blockchain operation is settled using USDT. This removes the need for users to manage native blockchain tokens while still allowing them to interact with the blockchain infrastructure.

As a result, users benefit from:

• a simplified experience using a familiar stablecoin
• predictable transaction costs
• full control over their assets through cryptographic signatures

This architecture combines the security guarantees of blockchain technology with the convenience of a streamlined user experience.