Business & Finance

Coinbase Wallet – An Upgraded Version of Toshi

If you are an active user of Toshi and it went missing from your mobile device, do not panic, it must still be there with a slight difference. It must have been automatically upgraded to Coinbase Wallet. Have you found it yet? Great!

It was announced just a day ago that the creators of Toshi are renaming the application as well as adding numerous features to messaging application/wallet. In their own words,

This is not just a new name, but part of a larger effort to invest in products that will define the future of the decentralized web and make that future accessible to anyone.

The developers at Coinbase wallet have stepped up their game because of the ever-growing popularity and demand of blockchain-based platforms. They reckon that the future might bring forth endless opportunities for them, due to the increased affinity to the blockchain technology.

Coinbase believes DLT is the future. They mentioned that all applications would be based on blockchain technology, which would be sold on blockchain as well. With the rapidly increasing number of people already, investing in cryptocurrencies the digital wallets would become a necessity. Everyone will own a crypto wallet that allows him or her to access decentralized applications and that wallet will be their gateway to the open financial system.

Differences in Toshi and Coinbase Wallet

Toshi was released as first mobile decentralized application browser. It was intended to store cryptocurrencies and for accessing dApps. The idea was to introduce ease of access to the users of the decentralized platforms. Toshi and Coinbase Wallet serve the same purposes, there are however, a few differences. Coinbase Wallet being an upgrade carries more features than the archaic wallet Toshi.

Features of Toshi.
  • It was a private and secure messaging app.
  • It could store Ethereum.
  • It acted as a browser for Ethereum apps.
Features of Coinbase Wallet
  • The Coinbase wallet can store ETH and all your ERC-20 tokens for now but it is expected that it would start storing BTC, BCH and LTC very soon.
  • It can receive the airdrops, which are rewards offered as incentives, as well as ICOs.
  • It can be used to buy and store crypto collectibles as well as non-fungible tokens that are unique. These can later be used in games, or be traded on blockchain based marketplaces.
  • You can send payments to anyone anywhere in the world and without any charges.
  • It enables you to access leading decentralized exchanges and relayers to buy and sell tokens.
  • It can also be used to explore the full universe of third party dApps that enable everything from taking out a loan or lending to others on the blockchain to earning crypto by answering questions, performing services, or completing tasks.
Secure and easy to use

With Coinbase Wallet, your private keys are secured using your device’s Secure Enclave and biometric authentication technology.

In addition to the added functionalities, Coinbase Wallet is said to be extremely secure and easy to use. It also enables people from all over the world to have access to financial services without owning a bank account. Since the beginning, Bitcoin and other cryptocurrencies have been seen as an investment rather than having common utility such as making payments. Coinbase wallet plans to alter that. They envision to bring a ‘technology revolution’ in the market.

We are in the early days of a new technology revolution. One that will reshape everything we do online — from how we identify ourselves, to performing tasks, to buying and selling goods and services. We view our job at Coinbase as building the easy to use, trusted products that move the world closer to an open financial system. 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.

To conclude, the Coinbase platform has been the provider of one of the largest exchanges cryptocurrencies and other major blockchain platforms. Coinbase Wallet is just one these projects to ensure that the crypto and blockchain lovers have one platform to solve all their financial problems. They intend to keep inventing innovative solutions for its users, with its eye on the horizon where the Blockchain technology will revolutionize the financial system entirely.

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Habibah Shahid

A Computer Science student but a writer at heart. Habibah writes about Cryptocurrencies and the underlying technology, Blockchain, with the perspective of a Computer Scientist. Email: habibah@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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