Coinbase recently announced the release of its new dApp browser and wallet. This release is targeted at enhancing users’ access to Web3.0 services through its own app. Notably, these new features are part of its app interface.
Coinbase is set to release these features in different phases. Therefore, Android users that are located in the US are billed to enjoy these features first. Then, the more sophisticated features will be rolled out in the coming days.
Coinbase has expanded its service offerings, with a particular emphasis on Web3 connectivity. The crypto exchange is now rolling out a feature that allows customers to access Ethereum-based dApps directly from the Coinbase app.. As a result, more people will be exposed to and experiment with Web3 apps, which boast of ‘decentralisation,’ or independence from global conglomerates.
A blockchain network hosts a decentralized app (dApp). Instead of downloading dApps, users must pay a certain amount of bitcoin to the dApp creator in order to use them. dApps are growing increasingly popular among the Web3 since they are not overseen by a single authority.
Rishi Dean, the Director of Product Management at Coinbase explains how they interact with the new features on the app. He notes that “to get started, users should go to the new “browse” tab that is on the navigation bar at the bottom of the Android mobile app screen” Dean further notes that once the set-up is completed, users can search for discovering on the apps, and from there begin to use the Ethereum based dApps on the new dApp browser that is featured on the Coinbase app.
Coinbase explains that users no longer engage the dApps with managing recovery sections. The dApp wallet is protected by the company’s team for better security and recovery.
However, it is not surprising that Coinbase is bringing innovative ideas and services to address the needs of the users. The reason is not far fetched. It is simply clear that Ethereum based dApps have become big revenue-generating platforms in recent times. The company’s data shows that there was a significant increase in DeFi investment in both Ethereum and NFT. Ethereum blockchain had a total of $110 billion while NFT was capped at $30 billion. This is a massive market opportunity for Coinbase, and clear efforts are being made to leverage these opportunities.
