Coinbase has announced the integration of an encrypted messaging feature within its wallet offering. This development comes as a result of their collaboration with the Extensible Message Transport Protocol project, commonly known as XMTP.
The new messaging feature in Coinbase Wallet allows crypto users to establish secure communication channels between Ethereum Layer 1 and Layer 2 accounts. These channels utilize crypto domain names provided by cb.id, Ethereum Name Service, and Lens profiles for user identification. By leveraging these innovative technologies, Coinbase aims to offer its users a seamless and secure messaging experience.
One notable aspect of XMTP’s design is its compatibility with various identity solutions associated with blockchain accounts, eliminating the need for modifications at the blockchain level. This flexibility enables users to easily transfer their messages tied to a Coinbase Wallet to other decentralized social media applications that integrate with XMTP, such as Lens Protocol, Lenster, Orb, and Converse.xyz. This capability allows conversations to seamlessly continue across different platforms, promoting efficient and uninterrupted communication.
To ensure the utmost security, messages within Coinbase Wallet’s messaging feature are encrypted using security keys exclusively shared between conversation participants. This additional layer of security guarantees that only the intended recipients can access and decrypt the messages, enhancing privacy and protection against unauthorized access.
Coinbase Wallet’s integration with XMTP positions it as the first and only self-custodial wallet to feature integrated messaging capabilities. This milestone achievement empowers users with full ownership of their cryptocurrency, identity, and communications. By combining a secure wallet solution with encrypted messaging, Coinbase further establishes itself as a leader in the cryptocurrency industry, providing a comprehensive and user-centric experience.
The messaging feature will be available starting today, and Coinbase users will receive an invitational QR code from the company to gain access. This exclusivity ensures a controlled rollout while allowing Coinbase to gather valuable user feedback and make any necessary improvements to the service.
The introduction of the encrypted messaging feature by Coinbase and XMTP represents a significant step forward in addressing the communication challenges faced by crypto users. By prioritizing security and interoperability, Coinbase is actively working towards a future where users can seamlessly interact and communicate within the cryptocurrency ecosystem.
Read more:
- Credora Secures $6 Million Strategic Funding Round With S&P Global And Coinbase Ventures
- Coinbase Ventures Strengthens Ties With Rocket Pool Through Investment In DeFi Protocol And ODAO Voting Proposals
- Coinbase Ventures’ $6B Fund’s Exciting Investments For 2023: Here Are The Top Picks