Toshi is now a Coinbase wallet according to a post made on the Coinbase blog. According to Coinbase lead Siddharth Coelho-Prabhu, the Coinbase wallet will not just be another name associated with the popular US-based crypto exchange but also a part of a bigger effort to make investments on products that will define the future of the decentralized web and make that grand future accessible to all. On his blog post, Siddharth explained his company’s belief that future applications will be based on the blockchain. He further stated that they believed the future would see everyone own a crypto wallet allowing them to access decentralized apps also known as (dapps) which will be their path towards an open financial system.
The Coinbase development team came up with Toshi over a year ago. The product featured the first ever Dapp mobile browser. Later on, the company wrote a piece of fine history by becoming the first to unveil crypto collectibles. Siddharth stated that the company aimed to make managing virtual assets and accessing the decentralized web as easy as downloading an app on your smartphone. Part of their effort towards achieving their ambition of becoming the most trusted brand in the crypto space is providing the best in class security storage.
Coinbase is on the verge of redefining the crypto wallet as you know it. Unlike other crypto wallets out there, the Coinbase wallet is more than just a tool to get access to your crypto holdings. Coinbase views their wallet as a home base for users to explore the decentralized web (blockchain) and the possibilities it can bring about. a Coinbase wallet hands users the ability to;
- Manage Ethereum (ETH) and other ERC-20 tokens
- Ability to receive ICO tokens and airdrops
- Purchase and store crypto collectibles –non-fungible unique tokens to be used in gaming and traded in marketplaces
- Access leading decentralized exchanges and relayers for the buying and selling of tokens
- Explore third-party decentralized apps which enable everything from lending and taking loans to earn crypto by answering questions
The Coinbase wallet is increasingly being preferred by crypto entrepreneurs who are setting out to build mobile decentralized apps to be accessed through crypto wallets. People who are already Toshi users should wait with bated breath for the same old efficient product but with a brand new look. The Toshi app will upgrade to a Coinbase wallet in no time. Siddharth closed by saying that the new Coinbase wallet was one among the many efforts the company was conducting towards the quick adoption of crypto around the world. He also stated that Coinbase was committed to keeping users updated as they continue to improve their newly released wallet.