Coinbase Introduces Encrypted Messaging Feature to Crypto Wallet

On July 12, Crypto alternate Coinbase announced the launch of a brand new messaging characteristic for its wallet that permits any two Ethereum addresses to speak. Powered by the XMTP protocol, the encrypted messaging service will first be obtainable to a small subset of customers, together with all Lens protocol customers and anybody who scans the QR code featured in this video.

The messaging characteristic will assist the 1.3 million Ethereum addresses utilizing the pockets which can be human-readable and/or ENS-enabled.

“Messaging on Coinbase Pockets is end-to-end encrypted, personal, and transportable. It lets you join immediately by your pockets, have interaction together with your communities, [and] ship funds throughout 1000’s of cash,” learn Coinbase’s press release. Past typical communication, the messaging characteristic additionally empowers NFT and POAP holders to immediately join with others who personal the identical property. This capability may foster new connections that may have been troublesome to determine in any other case.

However this messaging functionality isn’t merely an progressive characteristic or utility. It serves as a vital safety measure. It helps forestall widespread points like unintentional crypto transactions to the unsuitable tackle, false claims of .eth identify possession, and fraudulent profiles on social media claiming pockets addresses they don’t personal. It additionally permits customers to verify pockets addresses with out having to ship a small steadiness to confirm.

Importantly, these chats are interoperable and may be transferred to any XMTP-compatible app at any time. Customers wishing to make use of this characteristic want the Coinbase Pockets cellular app and a .lens account. When you’ve downloaded or imported your pockets, you’ll discover a QR code in your inbox positioned on the “Belongings” tab within the Coinbase Pockets app.

Since its inception as a cellular app in 2017, Coinbase Pockets has been persistently upgraded, introducing options like transaction previews and flags for doubtlessly malicious sensible contracts. This comes regardless of the SEC’s legal action in opposition to Coinbase in June, primarily focusing on the wallets and their compliance with regulatory constructions.

Undeterred, Coinbase continues to boost its pockets choices, striving to keep up its place on the forefront of the crypto panorama.

Editor’s be aware: This text was written by an nft now workers member in collaboration with OpenAI’s GPT-4.