- Popular Ethereum wallet app MyEtherWallet (MEW) has provided an upgrade that decentralized application (Dapp) users will find welcome.
- Earlier this week, the company announced that it had inked a partnership to provide easy access to Dapps on its mobile app, essentially allowing it to capture several growing crypto markets.
Easy Access to Over 2,000 Apps
A press release explained that MEW had partnered with top dApp analytics site dAppRadar on the initiative. Thanks to the partnership, MEW users will be able to access over 2,000 dApps on their MEW browser.
The new feature will allow MEW users to track applications across several sub-industries, including decentralized finance (DeFi), non-fungible tokens (NFTs), and more. It will also allow users to track their portfolios across apps and easily tap into the new wave of crypto-based financial services.
Users can search for specific dApps, and the partners believe that iOS users will be able to view rankings and critical metrics for the applications from later this year.
Currently, these metrics are only visible through web browsers within the MyEtherWallet app. They will most likely include numbers like active users, total value locked, periodic trading volumes, and more. In the announcement, Kosala Hemachandra, MEW’s chief executive, explained:
“Our dedication to bringing DApps to all of our users, no matter how they choose to access them, reflects our belief that wallets can, and should, become the hub where the entire Ethereum DApp ecosystem comes together.”
Gas Fees Reach New Highs
The move is sure to provide easier interaction across the Ethereum blockchain. MEW remains a top figure in the Ethereum ecosystem, and most dApps run on the Ethereum blockchain too. Considering that many of these users are interwoven, easy access between one Ethereum-based service and another should consolidate Ethereum’s influence in the decentralized space.
As for the Ethereum network itself, it continues to deal with the problem of rising gas fees, something that continues to threaten its dominance in the DeFi space primarily. According to data from YCharts, the average gas fees hit an all-time high of $17.50 per transaction on Wednesday, beating the previous record of $17.43 that was set exactly a month before.
The rise forced immediate reactions, with top crypto exchange Liquid announcing that it would have to suspend Ether withdrawals due to the gas hike.
As for the DeFi space, things are getting direr. Many DeFi projects require the execution of smart contracts, and there are now reports of fees associated with protocols running into the thousands of dollars.
It’s been widely reported that large transactions on Synthetix cost as high as $1,100, while simple swaps on exchanges like SushiSwap and UniSwap went as high as $75.