[Coinbase] Access web3 with the Coinbase app
Use popular Ethereum dapps with Coinbase’s new dapp wallet and browser
Tl;dr: This post highlights the ability to access and explore web3 directly from your Coinbase app, powered by our new dapp wallet and dapp browser.
By Rishi Dean, Director of Product Management
Over the past year, there has been an explosion of interest in web3 and dapps, including NFTs, decentralized finance (DeFi), and decentralized autonomous organizations (DAOs). The total value locked (TVL) of DeFi investments on the Ethereum blockchain has grown to over $110B USD, while NFTs sales have grown to over $30B USD in the last twelve months (LTM) — with new innovative real-world applications emerging every day.
Starting today, we’ll roll out the ability for a small set of Coinbase app users to access Ethereum-based dapps directly from the Coinbase app. This includes buying NFTs on marketplaces like Coinbase NFT and OpenSea, trading on Decentralized Exchanges like Uniswap and Sushiswap, and borrowing and lending through DeFi platforms like Curve and Compound.
This new ability, to access and explore web3 directly from your Coinbase app, is powered by our new dapp wallet and dapp browser.
Introducing web3 right in the Coinbase app
With today’s launch, users can explore dapps without having to manage a recovery phrase. This innovative dapp wallet experience is powered by Multi-Party Computation (MPC) technology that enables you to have a dedicated on-chain wallet that Coinbase helps you keep secured. This is due to the way this wallet is set up, which allows the ‘key’ to be split between you and Coinbase. Ultimately, this means if you lose access to your device, the key to your dapp wallet is still safe and Coinbase can assist in recovery through our live support.
To get started, go to the new “Browser” tab in the navigation bar at the bottom of the Android mobile app screen, and set up your new dapp wallet. Once set up, you can search, discover, and use Ethereum-based dapps directly in the new dapp browser of the Coinbase app.
We want to enable everyone to seamlessly and safely participate in web3, and today’s launch is another step on that journey. We’re rolling out the new dapp wallet and browser experience in the US on Android first to a small subset of users, and plan to expand to all users and platforms soon. Stay tuned!
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