Coinbase executive: Cryptocurrency adoption requires more friendly beginner apps

2024/07/10 06:05

Odaily News Chintan Turakhia, senior director of engineering at Coinbase, said that to attract the first billion cryptocurrency users, more friendly beginner applications are needed. The current user registration process is complicated and has many obstacles, including setting up wallets, paying transaction fees, and purchasing blockchain native tokens. To simplify this process, Coinbase launched the Smart Wallet, which uses simpler login options such as account names and passwords to replace complex seed phrases. In addition, the new Smart Wallet also sponsors transaction fees by Coinbase, further lowering the threshold for use. Turakhia believes that consumer applications will be the way to popularize cryptocurrency, such as the Telegram-based mini-game Hamster Kombat, which has exceeded 239 million users in 81 days.

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