The New Messaging Feature on Coinbase Wallet
Coinbase has introduced a new feature on its crypto wallet that allows users to send encrypted messages. This feature enables communication between any two Ethereum addresses that are connected to the same messaging backbone, known as XMTP. While other crypto wallet makers have experimented with Web3 messaging, Coinbase’s integration is the largest, given its user base of 1.3 million. Additionally, Coinbase Wallet users can easily transfer their conversations from any of the approximately 450 applications built on XMTP to their wallet.
Key points:
– Coinbase’s wallet now supports encrypted messaging.
– Users can communicate with any two Ethereum addresses on the same messaging backbone.
– Coinbase’s integration of Web3 messaging is the largest among crypto wallet makers.
– Users can transfer their conversations from other applications built on XMTP to their Coinbase Wallet.
– Messages sent through the wallet are not recorded on the blockchain but travel through a permissioned network controlled by XTMP Labs.
While the messaging feature on Coinbase Wallet offers convenience and interoperability, it is important to note that the messages are not recorded on the blockchain. This raises concerns about data privacy and security. However, Coinbase has stated that it is working towards decentralizing the messaging network over time to address these concerns.
Overall, the new messaging feature on Coinbase Wallet enhances communication between Ethereum addresses and expands the capabilities of the wallet. It provides users with the freedom to fully own their messages and transactions through their personal, on-chain identity.
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