{"id":19942,"date":"2023-07-13T01:52:35","date_gmt":"2023-07-13T01:52:35","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/coinbase-introduces-encrypted-messaging-feature-to-crypto-wallet\/"},"modified":"2023-07-13T01:52:39","modified_gmt":"2023-07-13T01:52:39","slug":"coinbase-introduces-encrypted-messaging-feature-to-crypto-wallet","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/coinbase-introduces-encrypted-messaging-feature-to-crypto-wallet\/","title":{"rendered":"Coinbase Introduces Encrypted Messaging Feature to Crypto Wallet"},"content":{"rendered":"
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On July 12, Crypto exchange Coinbase announced the launch of a new messaging feature for its wallet that allows any two Ethereum addresses to communicate. Powered by the XMTP protocol, the encrypted messaging service will first be available to a small subset of users, including all Lens protocol users and anyone who scans the QR code featured in this video.<\/a><\/p>\n

The messaging feature will support the 1.3 million Ethereum addresses using the wallet that are human-readable and\/or ENS-enabled.<\/p>\n

\u201cMessaging on Coinbase Wallet is end-to-end encrypted, private, and portable. It allows you to connect directly through your wallet, engage with your communities, [and] send payments across thousands of coins,\u201d read Coinbase\u2019s press release. Beyond conventional communication, the messaging feature also empowers NFT and POAP holders to directly connect with others who own the same assets. This ability could foster new connections that would have been difficult to establish otherwise. <\/p>\n

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But this messaging capability isn\u2019t merely an innovative feature or utility. It serves as a crucial security measure. It helps prevent common issues like accidental crypto transactions to the wrong address, false claims of .eth name ownership, and fraudulent profiles on social media claiming wallet addresses they don\u2019t own. It also allows users to confirm wallet addresses without having to send a small balance to verify.<\/p>\n

Importantly, these chats are interoperable and can be transferred to any XMTP-compatible app at any time. Users wishing to use this feature need the Coinbase Wallet mobile app and a .lens account. Once you\u2019ve downloaded or imported your wallet, you\u2019ll find a QR code in your inbox located on the \u201cAssets\u201d tab in the Coinbase Wallet app.<\/p>\n

Since its inception as a mobile app in 2017, Coinbase Wallet has been consistently upgraded, introducing features like transaction previews and flags for potentially malicious smart contracts. This comes despite the SEC\u2019s legal action against Coinbase in June, primarily targeting the wallets and their compliance with regulatory structures.<\/p>\n

Undeterred, Coinbase continues to enhance its wallet offerings, striving to maintain its position at the forefront of the crypto landscape.<\/p>\n

Editor\u2019s note: This article was written by an nft now staff member in collaboration with OpenAI\u2019s GPT-4.<\/em><\/p>\n<\/p><\/div>\n