Coinbase Unveils Revolutionary Smart Wallet with Goal to Onboard 1 Billion Users on Base

• Coinbase introduces its innovative Smart Wallet with significant user onboarding plans.
• The release aims to drastically improve the user experience on blockchain technology.
• “Smart wallets mark a new era in easy and affordable on-chain transactions,” says Coinbase.

Discover how Coinbase’s new Smart Wallet aims to revolutionize the user experience and bring blockchain technology to a billion new users.

Coinbase Launches Smart Wallet to Streamline Blockchain Access

Coinbase has officially launched its highly anticipated Smart Wallet, designed to simplify on-chain activities by eliminating recovery phrases and reducing transaction costs. The company is targeting to onboard one billion users, making blockchain technology more accessible and user-friendly.

Comprehensive Improvements with Smart Wallet Features

Coinbase’s Smart Wallet introduces groundbreaking features aimed at removing the complications traditionally associated with blockchain transactions. Users can now experience gasless transactions and multi-chain integrations, making transfers more cost-effective and operationally seamless. “The era of slow, expensive, and complicated blockchain access is over,” stated Coinbase.

Additionally, developers can leverage paymaster integrations to sponsor user transactions, introducing a unique selling point within the crypto wallet ecosystem. The adoption of passkeys removes the need for cumbersome recovery phrases, further simplifying user access.

Anticipation Fuels Surge in Base Network Activity

In the wake of the Smart Wallet announcement, Coinbase’s layer 2 network, Base, has seen a significant uptick in Total Value Locked (TVL). This surge reflects heightened trader anticipation and growing confidence in the enhanced blockchain experience offered by the Smart Wallet.

Base, which boasts a TVL exceeding $1.771 billion, saw a 1.5% increase in just 24 hours following the announcement. Leading protocols such as Aerodrome, Uniswap, and Extra Finance are key contributors to this growth. Users are optimistic about further asset inflows as the wallet gains traction.

Conclusion

Coinbase’s introduction of the Smart Wallet represents a paradigm shift in blockchain accessibility and user experience. By resolving longstanding issues such as high transaction fees and complex recovery mechanisms, Coinbase is poised to onboard a billion new users. The rollout of this wallet and its associated features not only demonstrates technological advancement but also sets a new standard in the competitive crypto landscape.