On February 26, 2020, San Francisco-based cryptocurrency exchange Coinbase announced that it had added two new functionalities to its mobile app that enable users to send digital currencies using small and simple addresses instead of traditional long addresses.
Coinbase App Integrates Ethereum (ETH) Name Service
In a major upgrade for its app, U.S.-based digital currency exchange Coinbase recently announced that its app users will now be able to send and receive cryptocurrencies using easyaddresses which typically end with “.eth.”
The announcement reads in part:
“We’re also integrating the Ethereum Name Service (ENS), which means you can now send crypto to .eth addresses. ENS supports all the currencies currently supported by Coinbase Wallet. Optionally, you can purchase your own .eth address by visiting the ENS website in Wallet’s dApp browser.”
Further, the exchange announced that its users will now be able to transfer crypto funds using their usernames that begin with an @ symbol.
Sid-Coelho-Prabhu, Product Lead for Coinbase Wallet and Coinbase Commerce commented on the development, saying:
“We believe these improvements will make cryptocurrency much easier to use… Users can now easily send money to friends and business partners like they do with traditional payment apps, albeit globally and in crypto.”
What’s more, the newly unveiled username feature allows app users to keep their names private through the settings menu in the Wallet app.
For the uninitiated, Coinbase Wallet is a user-controlled cryptocurrency wallet that, at present, supports a wide array of cryptocurrencies including Bitcoin (BTC), Ether (ETH), and XRP, among others. The wallet also supports several prominent stablecoins in the industry including DAI and USDC.
For those unaware, a stablecoin is essentially a digital token that is pegged to some fiat currency or a basket of traditional financial assets.
Coinbase Exchange Leading the Crypto Revolution
Being one of the prominent market players in the budding crypto industry, Coinbase has always strived to bring innovative and robust products and services to its customers across the globe.
BTCManageron February 19, 2020, how Coinbase had become the first pure-play crypto company to become an official Visa principal member.
Sourced from crypto.news.
Written by Aisshwarya Tiwari on 2020-02-26 21:00:21.