As blockchain technology continues to evolve, security remains a top priority for users interacting with decentralized applications (dApps), wallets, and smart contracts. To enhance security and transparency in Web3 transactions, Ronin Wallet has integrated a Transaction Simulator, a feature powered by Blockaid. This tool helps users understand and verify their transactions before executing them, reducing the risk of scams, malicious contracts, and unexpected fund movements.
What is the Transaction Simulator?
The Transaction Simulator is a security feature within Ronin Wallet that allows users to preview the outcome of a blockchain transaction before signing it. By simulating transactions, users can identify potential risks and make informed decisions, ensuring they do not unintentionally authorize harmful actions. This is particularly useful for preventing fraud, avoiding costly mistakes, and maintaining control over assets.
How it Works
The Ronin Wallet Transaction Simulator runs an in-depth analysis of a transaction before it is executed on-chain, displaying a preview of its expected results. Depending on the transaction type, the simulator provides users with clear insights:
-
Token Transfers – Shows the exact amount of tokens being sent and received, flagging any discrepancies or unauthorized token movements.
Simple token transfers will show the token and amount to be transferred.
Swap transactions will show the amount and token you're sending and receiving.
For dApp interactions with no balance changes, a "Verified!" message will be displayed.
-
NFT Trades – Confirms the NFT being exchanged, verifying that the correct asset is being sent and received before approval.
NFTs to be sent/received in the transactions are also shown.
-
Smart Contract Approvals – Identifies whether a contract is requesting access to an entire token balance or if it’s attempting an unexpected action.
In token approval transactions, it will show the token, contract address, and amount that you're approving.
- Malicious Contracts/Address Detection – The transaction simulator can also detect when a transaction interacts with a known malicious address/contract, and will prevent you from proceeding with the transaction.
If you notice any unintended/unauthorized transfers/approvals in the transaction simulator, it's best to not to proceed by cancelling the transaction.