Ethereum (ETH) wallet and decentralized application (DApp) explorer Toshi is rebranding to Coinbase Wallet in a move the company claims isn’t “just a new name, but part of a larger effort to invest in products that will define the future of the decentralized web.”
According to a recent blog post published by Toshi’s Product Lead Siddharth Coelho-Prabhu, users who have the Toshi wallet installed on their mobile devices will soon see it upgrade to Coinbase Wallet and can look forward to seeing the “same great product” with a new look.
Toshi was developed by San Francisco-based cryptocurrency exchange Coinbase over a year ago. It’s as an Ethereum and ERC-20 token wallet, and a DApp explorer that can be used for “exploring the decentralized web.” The company’s goal with it was to reportedly offer users a way to manage their crypto holdings and access the decentralized web that’s as easy as downloading a mobile app.
Per the blog post, Toshi was the world’s first mobile DApp browser, and the first wallet to launch crypto collectibles. While it was the first one, the Opera browser recently launched a mobile browser for Android with a built-in crypto wallet, which it’s set to add to its desktop browser, that supports crypto collectibles.
The post reads:
Coinbase Wallet is one part of our effort to accelerate the adoption of crypto and dapps around the world. We’re looking forward to keeping our community updated as we continue to build the most secure and easy to use crypto wallet in the space.
According to Coinbase’s blog post, its wallet will “very soon” going to add support for Bitcoin, Bitcoin Cash, and Litecoin. Users will be able to receive airdropped tokens from initial coin offerings (ICOs) and buy crypto collectibles, fungible tokens available in games like CryptoKitties.
As a DApp explorer, it further lets users explore the “full universe of third-party dapps” and access decentralized cryptocurrency exchanges to buy and sell tokens. The DApp universe, per Coinbase, can let users earn crypto “by answering questions, performing services, or completing tasks.”
When it comes to security, the company touted its wallet will be using the “best-in-class secure storage,” which is set to ensure its users’ funds are secure through their device’s “Secure Enclave and biometric authentication technology.”
Excited to be doubling down on a user controlled wallet and dapp browser to drive the utility case for crypto! Check it out -> https://t.co/Xi0Rvsm8Oe https://t.co/FXE6SmLTbH
— Brian Armstrong (@brian_armstrong) August 15, 2018
Per Coinbase, its wallet may help increase cryptocurrency adoption. As CryptoGlobe covered, the San Francisco-based cryptocurrency was adding 50,000 users a day last year, and now has over 13 million users. It’s so popular that cryptocurrencies surge when added to its platforms. Recently, Ethereum Classic saw its price rise 19% after it announced it was adding it to Coinbase Consumer
