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[lyra_bennett]

A multichain wallet is essentially a cryptocurrency wallet that supports multiple blockchain networks, such as Ethereum, Polygon, BNB Chain, Arbitrum, Solana, or even Bitcoin, within a single interface. A multichain wallet allows users to manage their cryptocurrency assets across multiple blockchain networks. Multichain wallet development has become increasingly popular due to the rapid growth of DeFi, NFTs, and cross-chain activity.

Whereas a regular or single-chain cryptocurrency wallet is built for a single blockchain network. This wallet offers deep support and optimization for a single network. Because of their narrower scope, single-chain wallets are typically simpler and can offer a smaller security attack surface. But unlike a multi-chain wallet, it doesn’t include native cross-chain features, so it depends on external tools or bridges to interact with other blockchain networks.