San Francisco-based cryptocurrency exchange, Coinbase, announced its new Wallet’s decentralized web feature.
The new feature links users to supported Dapps from any browser with a new processor called Walletlink. It acts as a secure bridge between the Coinbase ecosystem and the traditional web. However, users of private keys are still securely stored on their mobile devices.
Coinbase said the feature saves users from installing browser extensions, copying and pasting private keys across devices, and getting fragmented wallet balances. Users can simply scan a QR code that uses an encrypted link between the wallet app and browser.
According to reports, Coinbase has tested WalletLink with different browsers. They include Google Chrome, Mozilla Firefox, Microsoft Edge, Opera, and Brave.
The initial four Dapps supported by Walletlink offers decentralized financial (DeFi) services for crypto holdings. Coinbase Wallet product lead, Sid Coelho-Prabhu explained they approached the most popular Dapps in the market to launch the feature. They met with Compound (a protocol to earn interest), Maker (an ETH lending service). As well as IDEX (a decentralized exchange), and dYdX (a protocol for margin trading, borrowing, and lending).
Coinbase is also looking towards expanding access to other Dapps categories. Coelho-Prabhu said, “Coinbase Wallet is working to make the development process from demoing to integration very easy.” Aside Dapps, the Coinbase Wallet software also enables access to ERC-20 token platforms, token airdrops, and ICOs. It also aids the collection of non-fungible tokens, online purchases, and P2P crypto transactions.
Last week, the Binance app became available for Apple users. The company issued a statement explaining that the app was been reviewed. The leading exchange in the crypto space also announced the launch of a new cryptocurrency that seems to be a straight competitor to Facebook’s Libra coin. The Binance cryptocurrency is called “Venus”.