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If a dapp has a built-in wallet, can the users intearact with the dapp without the need of Metamask or Mist?

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I'm not 100% sure what "wallet" means, in this context, since the term is rather poorly defined.

That said, the function that MetaMask and Mist play is to hold the user's private key and thus protect them from having to share it with a DApp. If your DApp holds the user's private key for some reason (because it's a "wallet?"), then a user would not benefit from using MetaMask or Mist.

  • So exchanges like bittrex or binance, they are the ones holding the private key for the user? – anonuser1 Mar 5 '18 at 8:48
  • There usually isn't even a private key for each user. Your ether is just in their account, and they keep track of how much of it they owe to you should you ask to withdraw it. (They may use multiple accounts behind the scenes, but there isn't one per user.) – user19510 Mar 5 '18 at 8:54
  • Oh wow. So when a user deposits into his bittrex account, from some other place, providing the address specified on bittrex, he is actually depositing it into this large account owned by them? And how do they differentiate where the deposits go? – anonuser1 Mar 5 '18 at 9:01
  • That's the right idea. I believe they give you a deposit account unique to you and then just move the funds to a central location, but I haven't looked too closely. – user19510 Mar 5 '18 at 9:04

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