Coinbase Releases In-App Browser to Access Ethereum Dapps

Coinbase Ventures Banks on Web3 and DeFi Sector After Q2 Report
  • Launch of new Dapp wallet & browser for a limited portion of android users.
  • Ease in access to platforms such as OpenSea, Uniswap, Curve, and much more.

Web3 technology is built on a blockchain mechanism that integrates decentralization. There has been a surge in interest in web3 and dapps in the previous years, including NFTs, decentralized finance (Defi), and decentralized autonomous organizations (DAOs). The web3 advancements have become undeniable, firms are releasing it sooner and are adapting themselves to the token-based economics.

According to the Coinbase blog, the total value locked (TVL) of Defi investments on the Ethereum blockchain has surpassed $110 billion, while NFT sales have surpassed $30 billion in the last year, with innovations such as metaverse emerging daily.

Coinbase has made one such addition to its ecosystem, the dapp wallet, and dapp browser. At present, only a small subset of android handset users in the US will be able to proceed with this feature and in near future, this is being planned to deliver to every user on every other platform.

Characteristics of New Launch

The dapp wallet is constructed based on the Multi-Party Computation (MPC), the wallet will be able to process the private data without unveiling the information to other users. The custodial wallet remains immune to the purloining, as no one party is the sole owner of the private key.

Also, the Coinbase holds the dapp wallet but it has not been integrated, and the transactions made on-chain will be charged with fuels. 

Rishi Dean, Director of Product Management,Coinbase tweeted:

The new browser enables users to make use of the Ethereum-based dapps while present in Coinbase. The dapps include DEX like Uniswap, Sushiswap, and Defi like Curve and Compound along with NFT purchases on OpenSea and Coinbase NFT. 

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