- Coinbase introduces smart wallets, removing the requirement for seed phrases and specialized apps and completely changing the onchain user experience.
- With cross-app mobility and smooth, gasless transactions, Coinbase smart wallets make onboarding easier.
- Security is improved by biometric passkeys, and developers can sponsor transactions with gas credits.
The introduction of smart wallets on Wednesday marked the latest breakthrough from prominent cryptocurrency exchange Coinbase.
Users Are Introduced to Coinbase Smart Wallets
With the goal of streamlining onboarding procedures and removing obstacles for customers wishing to explore the blockchain space, the development represents a major advancement for Coinbase Wallet.
Because Coinbase smart wallets do not require browser extensions, seed words, or specialized programs, they have the potential to completely transform the onchain experience. By offering cross-app portability and smooth, gasless transactions, it aims to increase the accessibility of cryptocurrency.
The ease with which a free, safe, self-custody wallet can be created in a matter of seconds was emphasized by Siddharth Coelho-Prabhu, senior director of product management at Coinbase. He also emphasized the seamless connectivity with Coinbase balances and the decrease of transaction processes.
Coinbase’s Smart Wallet Initiative is propelled by enhanced security and developer incentives.
Coinbase smart wallets use online portals to connect to several blockchain networks and industry-standard Passkeys, in contrast to traditional wallets that use passwords or seed phrases for recovery.
Biometric identification, such fingerprint scanning or facial recognition, is frequently incorporated into these passkeys to improve security and expedite user interface.
In line with the exchange’s objective of getting over a billion users onto the blockchain is the introduction of Coinbase smart wallets. Furthermore, developers can now use the gas credits that Base has supplied to sponsor transactions for the users of their applications, which further encourages ecosystem adoption and innovation.
Coinbase hopes to increase accessibility to cryptocurrency wallets and streamline the onboarding process for new users by making this step. The aforementioned project highlights the company’s dedication to cultivating a blockchain ecosystem that is both user-friendly and accessible.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
