Cryptocurrency exchange Coinbase introduced a centralized hub for monitoring onchain activity.
“In the rapidly evolving, decentralized world of crypto, keeping track of your onchain activities can be hard,” the company said in a Thursday (July 11) blog post. “Today, many people use manual spreadsheets and need to open multiple browser tabs to track their assets holistically. Many people also manage several crypto wallets, and until now, achieving a comprehensive view of all their assets in one place has been a challenge.”
In addition, many desktop users are limited by the “small viewport” of browser wallet extensions, all of it adding up to a need for a unified view of transactions, according to the post.
The Coinbase Wallet web app lets users explore, manage and engage with people, communities and businesses onchain, accessible on both desktop and mobile devices, per the post.
“Discover the latest NFT mints, seamlessly view and trade across all your wallets, and access all your crypto assets in a single, full-screen, streamlined interface,” the blog post said. “This launch complements our recent introduction of smart wallet, designed to simplify your entry into the onchain world, allowing new users to start without the need to install any extension or mobile app.”
Meanwhile, PYMNTS wrote last week about the challenges facing the wider adoption of cryptocurrencies, including issues surrounding scalability and interoperability.
“Effective solutions will be instrumental in the widespread adoption of blockchain technology,” the report said. “By enabling faster and cheaper transactions, these advancements can enhance the user experience and open up new use cases for blockchain.”
To that end, Stripe and Coinbase teamed up in June to expand the worldwide embrace of cryptocurrency and provide faster, less costly financial infrastructure.
Coinbase’s efforts to make crypto trading easier to track are happening as crypto hackers seem to be stepping up their efforts.
Last week saw the release of a report from blockchain data firm TRM Labs that showed hackers stole $1.38 billion by mid-2024, up from $657 million at the same point last year.
For all PYMNTS digital transformation coverage, subscribe to the daily Digital Transformation Newsletter.
The post Coinbase Debuts Wallet App as Hub for Onchain Activity appeared first on PYMNTS.com.
