3 months ago 2 min read

To Speed Up the Adoption of Web3, Coinbase Will Concentrate on Cryptocurrency Wallets, NFTs, and Cloud Services


Key Ideas:

  • The adoption of Web3 will be accelerated by Coinbase.
  • For web3 developers, Coinbase Cloud is developing.

On its official website, Coinbase just announced that it will serve as a "bridge to Web3" for users. As a result, Coinbase will concentrate on Web3 development by "boosting" important building blocks, such as raising the security of exclusive cryptocurrency wallets.

Regarding wallets, the platform stated that earlier this year it unveiled cb.id, a subdomain system created in collaboration with ENS that enables human-readable addresses at no charge.

Anyone may send and receive cryptocurrencies using Cb.id thanks to its simplicity. You may transfer crypto by simply entering your username rather than having to copy and paste lengthy strings of letters and numbers. More than 1.3 million cb.id username requests were made for free in the first six months.

It also stated that it will utilize NFT as a tool to promote the adoption of cryptocurrencies, offering users access to all of the main NFT markets through an in-app browser and allowing them to peruse deals. On their website, NFT directly provides.

Additionally, Coinbase disclosed that it is assisting Web3 developers in building a stronger, more secure Internet by employing the cloud-based service Coinbase Cloud to assist developers in building Web3 infrastructure. also distributed.

With the recent rollout of Ethereum Node, we recently introduced our web3 developer platform. The Goerli testnet support and a Scale Plan for Node that makes it economical for projects that need more requests were both introduced shortly after.

Regarding DeFi, the platform is dedicated to strengthening the DeFi community and its members as well as the wider stablecoin ecosystem. The MakerDAO community has approved a Coinbase proposal that would allow them to receive incentives from keeping USDC in their wallets, The platform expects that MakerDAO's objective of developing a financial system with decentralized rails will be furthered by the extra money they make from their USDC holdings.

Finally, Coinbase has acknowledged its belief in a better on-chain future and its commitment to fostering relationships with Web3.

Great! You’ve successfully signed up.
Welcome back! You've successfully signed in.
You've successfully subscribed to Coin Aquarium.
Your link has expired.
Success! Check your email for magic link to sign-in.
Success! Your billing info has been updated.
Your billing was not updated.