The new extension is expected to vastly improve user experience for the wallet’s one million users when using their favorite DeFi applications, such as Uniswap and Compound. Until now, Coinbase Wallet users have had to use their mobile device to scan a QR code every time they want to connect to a DApp.
How it Works
Rather than authenticating a connection to a DApp every time it is used, users can now simply link their Coinbase Wallet to the browser extension a single time. Following this, DApp connections on desktop only require a single click, without requiring users to verify it via their mobile device.
Before setting up the extension, users will need to make sure they update their Coinbase Wallet app to the most recent version.
Unfortunately, the extension doesn’t do away with reliance on a mobile device altogether – users will still need to confirm all transactions via the Coinbase Wallet app on their phone.
Improving DeFi Onboarding
Although the Coinbase Wallet is non-custodial, it offers an easy connection to a user’s Coinbase exchange account. This allows for quicker and more convenient onboarding to DeFi for exchange users, opening the floodgates for 56 million Coinbase customers.
Coinbase closed the announcement post with a statement expressing its interest in enabling customers to access and use DApps, as well as hinting at further developments and products in the space.
Alejandro is a New Zealand-based trader and writer who has been involved in the cryptocurrency and blockchain space since early 2016. Being extremely passionate about this emerging technology, he has written content for a myriad of projects and news outlets.