New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs

New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs

XDEFI has released its rival to the popular crypto wallet MetaMask which reported more than 10 million active users in August.

Last month, XDEFI Wallet raised $6 million led by Mechanism Capital and Defiance Capital, with other investors including Alameda Research, Sino Global, and Animoca Brands.

Now it has announced the public release of its non-custodial, cross-chain wallet built with a focus on decentralized finance (DeFi) and non-fungible tokens (NFTs).

This week, the team unveiled XDEFI Wallet 7.0 and introduced the Ape Mode for the apes and degens of crypto.

The wallet uses a proprietary gas algorithm to ensure that even during times of congestion, transactions get into the next block timely, says the team.

It is also optimized for EIP-1559 allowing “users the maximum benefit from Ethereum’s London hard fork while still maintaining an accessible interface.” By adding a network activity section in-app, it reduces reliance on third-party sites. ETH 3.35% Ethereum / USD ETHUSD $ 3,608.86
$120.903.35%
Volume 16.15 b Change $120.90 Open $3,608.86 Circulating 117.91 m Market Cap 425.53 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 11 h US Dollar Hits One-Year High But Bitcoin No Longer Holds an Inverse Correlation with it 1 d BSC Is Back in the Game as Binance Announces $1 Billion Incentives Program to Pump the Ecosystem

While the wallet already offers access to chains like Terra (LUNA) and THORChain (RUNE), which are not available on MetaMask, support for other popular blockchains like Solana (SOL) and Avalanche (AVAX) along with layer 2 solutions like Arbitrum will be added along the way. LUNA 2.38% Luna Coin / USD LUNAUSD $ 0.01
$0.002.38%
Volume 0 Change $0.00 Open $0.01 Circulating 1.71 m Market Cap 12.73 K
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 5 d AnySwap and Aave Fork Geist Finance Send Fantom TVL Past $9 Billion, FTM Makes a New ATH 1 w Shift to Risk-on: Bitcoin Is Up 12% Already in Uptober Amidst Stock Market Weakness
RUNE 1.10% THORChain / USD RUNEUSD $ 7.33
$0.081.10%
Volume 47.74 m Change $0.08 Open $7.33 Circulating 224.41 m Market Cap 1.65 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 3 w DeFi Autumn after Solana Summer? Traders Still Short as Bitcoin Jumps to $48k and Ether to Nearly $3,700 1 mon DeFi Rallies Towards New Highs As Multiple Layer 1 Blockchains Amaas $50 Billion in TVL
SOL -2.60% Solana / USD SOLUSD $ 148.26
-$3.85-2.60%
Volume 2.07 b Change -$3.85 Open $148.26 Circulating 299.9 m Market Cap 44.46 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 1 d NFT Deposits and Withdrawals are Now Live on FTX US for Institutional Favorite Solana (SOL) 1 d Institutions Are Back to Pouring Money into Bitcoin as a “Perfect Storm” Brews for the King
AVAX 1.39% Avalanche / USD AVAXUSD $ 55.04
$0.771.39%
Volume 651.96 m Change $0.77 Open $55.04 Circulating 220.29 m Market Cap 12.12 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 1 d BSC Is Back in the Game as Binance Announces $1 Billion Incentives Program to Pump the Ecosystem 5 d AnySwap and Aave Fork Geist Finance Send Fantom TVL Past $9 Billion, FTM Makes a New ATH

As for NFTs, the wallet offers automatic detection and a drag-and-drop NFT display grid.

Users can also buy crypto directly within the XDEFI Wallet, for which it claims not to charge a fee.

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Author: AnTy

32% of El Salvador Population Actively Using Bitcoin Wallet, Lightning Network Capacity Surpasses 2,900 BTC

32% of El Salvador Population Actively Using Bitcoin Wallet, Lightning Network Capacity Surpasses 2,900 BTC

El Salvador’s Bitcoin adoption continues to gain traction, as evident from the number of people using the government’s Bitcoin wallet called Chivo.

Over the weekend, president Nayib Bukele claimed on Twitter that 2.1 million Salvadorans are actively using the Chivo wallet.

“Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have more users than all banks in El Salvador combined.”

“This is wild!”

On Sept 7. El Salvador became the world’s first nation to adopt Bitcoin as legal tender alongside the US dollar. Despite the protests and polls suggesting criticism against this move, already a third of the country’s population is using the cryptocurrency.

To spread the Bitcoin adoption in the Central American country, the government has been offering an incentive of $30 in BTC for anyone who downloads the app. The wallet app has also been dominating the Finance category in El Salvador’s app stores, both iOS APP Store and Google Play Store.

Like the Chivo wallet, Bitcoin ATMs in the country have also grown to hit 205 to become the third-largest after the US and Canada, which have 23,588 and 1,938 respectively, according to Coin ATM Radar.

This Bitcoin adoption also facilitates the growth of the layer 2 solution Lightning Network that allows faster and cheaper bitcoin transactions.

With 32% of El Salvador’s population onboarded to the Lightning Network in less than 3 weeks, the capacity of the network has climbed to a new all-time high of 2,947.67 BTC. This capacity has been growing throughout this year, and at the end of January, it was only around 1,050 BTC.

1MLLightningNetwork

Like the network capacity, the number of nodes and channels has hit new highs of 27,186 and 74,153, respectively.

A Lightning node is a software that connects and interacts with the main blockchain network and within the LN itself. The nodes open payment channels with each other that are funded with BTC. Transactions are made across these channels, and balance is not broadcast on-chain, thus creating a second layer on top of the bitcoin network.

Last week, Twitter also announced a new feature that allows tipping with Bitcoin over the LN through the payment app built on the network called Strike. Twitter users can basically use any Bitcoin Lightning wallet to send tips to someone’s Strike account.

If this catches on, this could further drive Bitcoin and Lightning Network adoption.

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Author: AnTy

Popular Retail Trading App, Robinhood, Is Testing A Crypto Wallet, Shows Beta Version

Popular Retail Trading App, Robinhood, Is Testing A Crypto Wallet, Shows Beta Version

Online stock trading app Robinhood (HOOD) is testing the long-awaited new features in its crypto wallet that will allow users to send and receive crypto assets outside of the app.

The beta version of the brokerage service provider’s iPhone app showed that it is working on such features.

According to a Bloomberg report, the software also had a hidden image that showed a waitlist page for users signing up for the feature. The code for the app also referred to cryptocurrency transfers.

Discovered by software developer Steve Moser, the planned offering also shows the ability to set up two-factor authentication to use the feature.

CEO Vlad Tenev has repeatedly said that adding crypto wallets and allowing deposits and withdrawals is the company’s priority. “It’s something that our teams are working on,” he said on a call following the company’s second-quarter earnings release.

At the time, Tenev also said that they are growing their crypto team “hugely” this year and that they “might add some new coins along the way,” too.

The company that went public in July had 41% of its net revenue in the second quarter coming from cryptocurrency trading. And out of this $233 million revenue, 62% came from the meme coin Dogecoin (DOGE) alone. DOGE -3.81% Dogecoin / USD DOGEUSD $ 0.20
-$0.01-3.81%
Volume 1.77 b Change -$0.01 Open $0.20 Circulating 131.38 b Market Cap 26.38 b
10 h Popular Retail Trading App, Robinhood, Is Testing A Crypto Wallet, Shows Beta Version 5 d Coinbase is Coming for the Sizable and Lucrative Futures and Derivatives Market in the US 1 w Robinhood Trading App Rolls Out “Dollar Cost Averaging” for Crypto Investments

The new crypto features are being tested as part of the company’s “alpha program,” which will require the users to activate crypto sending and receiving. The enrollment page will require an identity check with the message reading, “Complete the steps to start sending and receiving crypto.”

Code in the app also revealed plans for spare change investing and an early deposit option for checking accounts.

This comes after Robinhood launched price volatility protection and recurring orders for crypto purchases last week.

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Author: AnTy

Trezor Adds EIP-1559 Support to its Model T Wallet, $1 Billion Worth of ETH Burned

Trezor Adds EIP-1559 Support to its Model T Wallet, $1 Billion Worth of ETH Burned

Hardware crypto wallet Trezor has finally announced the support for EIP-1559 but only in its Model T’s firmware. This Ethereum upgrade is not yet supported on Model One, but the team is working on porting Model T firmware to Model One to unify its stack.

On August 5th, the Ethereum network had the London upgrade, which also implemented EIP-1559 which burns a portion of the fees paid to the miners. Since this proposal’s implementation on the second largest network, base fees are burned while a small tip is added that is paid to the miners.

So far, this burn mechanism has resulted in burning more than 311,000 ETH worth more than $1 billion.

NFT marketplace OpenSea is responsible for the majority of these burns at just over 43,800, followed by more than 26k ETH by Uniswap V2 plus V3, and Ether transfers at 26k ETH, according to Dune Analytics.

Popular Ethereum wallet MetaMask has already provided support to the new transaction fees mechanism, which provides a way for users to avoid overpaying under normal conditions.

Now, hardware wallet Trezor has also joined in, and EIP-1559 support is now available for Trezor Connect – a platform for integration of login with Trezor into 3rd party wallets.

Now, developers can use Trezor Model T wallets to secure EIP-1559 compatible wallet interfaces thanks to Trezor Connect and Model T firmware support, it noted.

At the same announcement, the wallet provider said a new version of Trezor Suite (21.9.2) and updated firmware for the Trezor Model T (2.4.2) and Trezor Model One (1.10.3) hardware wallets are now also available that are essential only if a user stores Stellar (XLM) crypto asset in the wallet.

Also, a new native arm64 has been built, which is optimized for Apple’s Silicon chip architecture, M1 processor.

Furthermore, the company announced offline onboarding, which means that a new Trezor device can be set up without the host machine being actively connected to the internet, improving one’s privacy and security.

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Author: AnTy

Crypto Hardware Wallet Trezor Brings Privacy to its Users with CoinJoin & CoinControl

Crypto Hardware Wallet Trezor Brings Privacy to its Users with CoinJoin & CoinControl

Cryptocurrency hardware wallet, Trezor is bringing privacy to its users through CoinJoin.

CoinCoin is a trustless method that combines multiple Bitcoin payments from multiple senders into single transactions making it difficult for outside parties to determine the origin of the coins. Trezor tweeted,

“We always strive to advance your privacy! CoinJoin will obscure the sources and destinations of your transactions.”

However, some are concerned about the fact that cryptocurrency exchanges like Binance and Paxos Global actually discourage the use of the bitcoin mixing services and, in the past, have flagged consumers who have made use of these services. For Trezor, the heart of the matter here is,

“Do you want to use a service that blocks your transaction because you care about your privacy?”

Another step towards maximizing Trezor users’ privacy also includes a CoinControl feature that puts the user in complete charge of compiling their transactions.

When sending BTC to someone, this feature allows you to control which of your addresses sends the coins and, even more specifically, which unspent outputs will be sending inputs.

“In the future, the combination of Tor Switch, CoinControl, and CoinJoin will guarantee you the top level of privacy and security, respected by our customers.”

Besides privacy, Tezos (XTZ) also announced that they are also bringing full node support to its wallet this year. Users will be able to connect their own full node, which allows them to fully validate transactions and blocks and help the network to the Trezor hardware wallet.

In the first stage, they will implement Electrum API integration which will be then followed by Bitcoin Core.

Another addition includes the Trezor Suite Mobile app for Android, which will have most of the Trezor Suite features “bringing accessibility and user experience to the whole new level.”

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Author: AnTy

Ledger Wallet And Shopify Face Class-Action Suit After Rogue Employee Leaks User Data

Crypto wallet provider Ledger and its e-commerce partner Shopify are in for a tough year.

Both firms are defendants of a class-action lawsuit filed against them following the aftermath of a phishing attack that saw a quarter-million of their customers’ details exposed online.

The lawsuit, which is the first of many, was filed by law firm Roche Freedman for John Chu and Edward Baton in California on April 6.

Shopify’s Employee Stole Customer Details

According to the 43-page document, the complaints allege that the defendants had been negligent in their duties of safeguarding customer’s personal details between April and June 2020.

The plaintiffs also ask for commensurate compensation for the damages incurred from the data breach and have asked the court to grant all relief allowed by law, including injunctive relief.

According to John Chu, he saw BTC and ETH worth over $267,000 stolen from his digital wallet, and Baton said that he lost $75,000 worth of XLM through phishing scams.

The duo claims to have been deceived by correspondence from the defendants.

Ledger and Shopify later identified the leak’s source as one of Shopify’s employees who shared full customer names, email, phone numbers, and shipping address on the database sharing website RaidForums. Following this, customers said they got strange calls and were threatened by unknown persons.

Ledger CEO Pascal Gauthier tweeted to reassure customers of the safety of their funds. He also assured that no hardware wallet was affected by the attacks.

Even though it’s been almost a year, the plaintiffs insist that the companies failed to notify affected customers or admit the full scope of the breach.

Speaking to The Block, Kyle Roche said the investigation had begun since the news of the breach became public knowledge. He said experts in the data security and cryptocurrency fields were consulted before any action was taken against the defendants.

In a July 2020 blog post, Ledger tried unsuccessfully to explain the breach admitting that only 9,500 users were affected by the attacks.

It published another blog post in the opening weeks of 2021, notifying customers about the changes they will be initiated in a bid to protect client’s data better. The cold storage wallet provider also admitted that its earlier number of affected customers was way off and said that the culprit leaked roughly 272,000 customer data.

It said it was creating a 10 BTC bounty fund for information that could lead to the culprits’ arrest.

Roche Freedman Is Crypto’s Bane

Even as the adoption of crypto has grown in a little over a year, many issues have cropped up. One of the most prevalent being malicious attacks that led to losses of digital assets by crypto owners.

US law firm Roche Freedman has been quite active in the past year as cases of retail investors seeing their crypto assets stolen due to the negligence of their service provider have grown.

In a report by investigative outlet OffshoreAlert, Roche Freedman filed 11 class-action lawsuits against 42 defendants. According to the filing, the listed parties were said to have allowed the investing public to trade unregulated cryptocurrencies.

The affected parties included popular exchanges like Binance, TRON, KuCoin, BitMEX, and others. Their company chiefs were not left out, with Binance founder Changpeng Zhao (CZ), Brendan Blumer, Dan Larimer, Vinny Lingham, and BitMEX co-founder and former CEO Arthur Hayes made the list.

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Author: Jimmy Aki

Popular Ethereum Wallet, MetaMask, Rolls Out V2 Token Swapping Feature for Smartphones

Popular Ethereum Wallet, MetaMask, Rolls Out V2 Token Swapping Feature for Smartphones

MetaMask has finally rolled out the token swap feature for iOs and Android phone users.

The company said that users can now swap tokens inside their mobile wallets using the Swaps feature.

MetaMask Brings DeFi Closer With New Add-on

MetaMask token swaps are achieved with a combination of data from automated and professional market makers and individual decentralized exchanges (DEXs).

The Swap feature includes slippage protection, fewer appeals, and reduced gas fees. On its website MetaMask stated,

“Instead of searching for the best prices between DEXs, MetaMask aggregates this information in a user-friendly interface so that users have access to the greatest liquidity, the largest selection of tokens, and the most competitive prices. The mobile version of Swaps comes with the same fees of 0.875% as the desktop version, which is automatically factored into each quote.”

Mobile users who want to access the new swaps feature would need to update or download the mobile app.

Once inside, users can tap on the new ‘Swap’ button to choose the tokens they want to exchange, select a quote, and then swap. MetaMask charges 0.875% for each swap completed.

Owned by ConsenSys, MetaMask is a popular Ethereum (ETH) wallet that was originally available as an extension for Chrome and Firefox. The company has seen its swaps feature grow substantially alongside its non-fungible tokens (NFTs).

Growing Revenue from Token Swaps

Token Swaps has helped MetaMask grow its revenue substantially over the past few months.

According to reports released by the crypto metrics platform in February, Dune Analytics, users reportedly swap between $11 million and $15 million worth of Ethereum-based tokens daily. This level of activity generates about $95,000-$131,000 in fees each day.

The MetaMask token swaps feature was announced for the first time in October 2020. The Swaps feature was first launched for its web wallet on Chrome and Firefox browsers.

Swaps basically combine data from multiple decentralized exchange aggregators, professional market makers, and individual DEXs to ensure MetaMask users always get the best price with the lowest network fees.

Before the MetaMask Swaps feature, users had to navigate many DEXs to compare prices and swap tokens. This didn’t always yield the best price for every trade, as each aggregator performs differently under different circumstances.

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Author: Jimmy Aki

Ethereum Wallet, Gnosis Safe Launches SafeSnap to Enhance Decentralized Governance in DeFi

Ethereum Wallet, Gnosis Safe Launches SafeSnap to Enhance Decentralized Governance in DeFi

Gnosis, a multi-sig wallet provider, is partnering with Snapshot to launch SafeSnap, a platform that enhances decentralized governance by allowing on-chain execution of off-chain votes.

In a document released on Tuesday, Gnosis, Gnosis Safe’s creator, a trusted Ethereum and ERC-20 tokens custodian, announced the launch of SafeSnap, in partnership with Snapshot, a decentralized governance platform. The new feature enables the decentralized execution of crypto governance protocols by bringing off-chain votes back on-chain.

Decentralized governance protocols have taken off with the rise of the DeFi ecosystem in the past year. However, the high gas fees on Ethereum have made it expensive to vote for proposals on-chain hence the rise of off-chain voting protocols such as Snapshot. However, the use of off-chain projects comes at the expense of decentralization.

The Snapshot governance proposal voting process is conducted off-chain with the duty to execute the proposal lying solely on the goodwill of team members and multi-sig key holders. SafeSnap aims to remove this centralization by automatically executing the proposal as soon as the “off-chain voting” closes.

SafeSnap aims to offer decentralized execution of crypto governance proposals. Several top DeFi governance protocols, including Yearn finance, SushiSwap, Synthetix, and Balancer, have already announced their support for the governance protocol.

Stefan George, a Gnosis co-founder and CTO believes the new feature will allow users to reduce high gas fees witnessed on Ethereum while maintaining decentralization in the proposal’s execution.

“The ability to execute DAO vote outcomes in a decentralized way, without taking the whole process on-chain and incurring the resulting gas fees, has been a difficult one to solve.”

Gnosis Safe will tally the off-chain voting from non-custodial multi-sig wallets and use Reality.eth, formerly Realitio, to broadcast the result on the main blockchain.

Once verified on the off-chain platform and resolved on Reality.eth, the proposal will have a 24 hour cooldown period before it is broadcasted to be executable by any participant on the blockchain.

The company boasts over $19.4 billion worth of ETH and ERC-20 token value in its Gnosis Safe Multisig wallet, including Metamask and hardware wallets. According to a BEG report in January, this makes it the fourth largest ETH custodial wallet operator.

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Author: Lujan Odera

Crypto Wallet Ledger Opens Business Unit Dedicated to Institutions

Crypto Wallet Ledger Opens Business Unit Dedicated to Institutions

Ledger, popular for the provision of crypto cold wallets, has announced Ledger Enterprise Solutions’ launching to serve institutional clients.

The newly formed division will offer crypto custodial services for institutions such as Tesla and MicroStrategy, which have embraced Bitcoin in the recent past.

The new division will also provide consulting services to its clients and has already employed 50 people in different categories. Ledger announced that it would employ 60 more people before the end of the year.

Jean-Michel Pailhon will lead the division as the vice president in charge of Business Solutions. Pailhon will be joined by Alexandre Lemarchand, who was recently appointed a vice president in sales and partnerships. In addition, Ledger Enterprise recruited Alex Zinder, the ex SDX developer, the VP in charge of engineering, and Laurent Castillo, ex Thales engineer, the VP in charge of technical architecture. Pailhon explained,

“Ledger Enterprise Solutions represents our company’s investment in the future of broad-scale financial adoption of cryptocurrencies and other digital assets by enterprise-class businesses. Our mission is to enable the digital assets industry to become a multi-trillion dollar industry.”

Already, the division has recruited various clients, including Crypto.com, Bank Frick, BitStamp, Komainu, Nexo, among others.

Komainu, a digital asset custody, is a joint venture with Nomura and CoinShare in June last year. Last week the firm raised $25 million in Series A funding.

The crypto assets custody sector has become a hot cake with numerous institutions entering the crypto space. Ledger joins other custodial services providers in offering enterprise custodial services such as BitGo, Fireblocks, Anchorage, and PayPal’s owned Curv.

Pailhon explained that as more firms continue recognizing cryptos in their balance sheet, there will be a rise in demand for enterprise custodial services. He said,

“As more companies apportion significant parts of their balance sheets to blockchain-based holdings, we recognize the drastic need for enterprise-grade solutions for holding and securing digital assets.”

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Author: Joseph Kibe

Top Chinese Bank Launches Testing for a Digital Yuan “Hardware Wallet” Card

Top Chinese Bank Launches Testing for a Digital Yuan “Hardware Wallet” Card

  • Top Chinese bank launches testing of its “hardware card wallet” for the digital yuan.
  • The card is currently testing Dongcheng District – targeting the elderly.
  • Beijing residents testing the CBDC can also use the wallet to pay for healthcare services.

A local news report, Xinhua Net, confirmed that the Postal Bank of China has launched its biometric hardware wallet card for the digital yuan. The card is still in its testing phase to provide Dongcheng District residents with the ability to pay and transact using the central bank’s digital currency.

The hardware wallet provides users with biometric security to spend their digital yuan using a one-tap system on selected stores. Once the transaction is complete, the card’s ink screen window displays the transaction amount and the wallet balance.

The new card focuses on giving the elderly a more efficient way to use the digital renminbi given the challenges they face with smartphones, Chen Yuejin, Chairman of the Postal Bank of China, said.

“With this card, it is much more convenient to enter and exit public places, and you can pay with just one touch. It is especially suitable for the elderly who have difficulty using smartphones.”

China is the leading country in testing and piloting projects supporting its digital yuan. In the past two years, the government has launched several pilot projects on its CBDC in Beijing and Shenzhen – recently disbursing over $3 million in ‘red envelopes’ to over 50,000 people, the largest pilot yet.

The expedited process of piloting the digital yuan forces central banks around the world to look into launching their own CBDCs to avoid falling behind with China. Despite several analysts touting the digital yuan to replace the dollar, Martin Chorzempa of Peterson Institute for International Economics’ believes there is a long road ahead still.

He believes Chinese electronic payment services lay the toughest roadblock for the digital yuan to become internationalized. Chorzempa said,

“A lot of people talk about (the digital yuan) being a driver of renminbi internationalization.”

“I think they have to beat Alipay and WeChat Pay in China before, I think, that they can make a dent in the U.S. dollar.”

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Author: Lujan Odera