When it comes to sheer reach, San Francisco-based Coinbase is one of the biggest and most important cryptocurrency companies in the world. Accordingly, it’s particularly notable when the firm unveils new features, as these features will likely be seen and used by millions in time.
That’s why heads turned anew in the cryptoeconomy this week when the digital assets powerhouse revealed that Coinbase Wallet, the company’s dApp browser and user-custodied crypto wallet, was embracing support for sends between user-friendly addresses.
It’s out with the hexadecimal addresses and in with the usernames, then — a score for both Coinbase and users alike since the newly added support will make it easier and more attractive to transact through the Wallet app.
Control Your Keys? Use Them Easily Too!
Coinbase.com is the company’s flagship, consumer-facing digital brokerage website, around which the firm’s various other offerings have been built up. Yet the brokerage is centralized, and thus users who leave funds on the site are leaving those funds in Coinbase’s custody.
Formerly known as Toshi, Coinbase Wallet is the exchange’s answer to the ecosystem’s popular “Not Your Keys, Not Your Crypto” refrain — the app is non-custodial, meaning users remain in control of their keys through it at all times.
It’s a well-intentioned offering, to be sure, but the app has made use of the long, inscrutable hexadecimal addresses that have been a frustrating UX standard in the early cryptoeconomy. Not anymore, though.
In a blog post published this week, Coinbase Wallet and Coinbase Commerce product lead Sid Coelho-Prabhu outlined the two avenues of the Wallet app’s new human readable address support, one being a basic username system and the other being the Ethereum Name Service (ENS) dApp.
Coinbase Wallet users already create usernames upon downloading the app, but they previously couldn’t be transacted through. Now, thanks to Coelho-Prabhu’s team, these basic…