Just in time for the holidays, private key management firm Torus announced on Reddit today they will send Ethereum (ETH) to any Reddit username or google email account.
According to a post on the r/ethereum community reddit thread, a TorusLabs member said:
“We hope to be an alternative for Web2.0 mainstream audiences.”
Bringing Users onto Decentralized Systems Via Email
Torus, which raised $2 million this July in a funding round spearheaded by Multicoin Capital, Binance Labs, Coinbase Ventures and other notable firms, aims to create an easier way for bringing users onto decentralized systems.
Notably, Coinbase CEO Brian Armstrong was recently awarded a patent for a similar system that allows users to send and receive Bitcoin via email.
In order to simplify the process of having to copy and paste lengthy ETH addresses when sending the cryptocurrency, Torus applies a “name resolver” that lets users send ETH transactions using a google email address or reddit usernames.
According to a company blog post on Oct. 13, the latest version of Torus’s non-custodial wallet allows users to log on using their Facebook, Reddit, Twitch, or Discord accounts.
The post explains, “With the name resolver, users are also able to transfer ETH and ERC20 tokens to any Ethereum Wallet address, Gmail or GSuite Email accounts, Reddit ID, and Discord ID, regardless of whether the recipient has logged into Torus before.
Instead of having to transfer cryptocurrency using long strings of alphanumeric characters, users are able to complete transactions using email addresses and usernames. Torus hopes that this will make it easier for mainstream users to try out the experience of sending and receiving cryptocurrency.
In order to familiarize cryptocurrency users with this concept, Torus is encouraging Reddit users to test it out for themselves. A TorusLabs community member commented on the r/ethereum reddit thread saying:
“For Redditors here that are keen to test Torus out, comment on…