Coinbase unveiled a service that will help companies easily create their own web3 wallets

Home / Coinbase unveiled a service that will help companies easily create their own web3 wallets

Coinbase unveiled a new product called Wallet-as-a-Service (WaaS) that allows companies to create fully customizable web3 wallets in their own applications.
According to Coinbase, users will now not have to use external applications, and various projects will not need much time, resources and expertise to develop their own solution.

WaaS doesn’t use mnemonics; instead, the service integrates multilateral computing (MPC) technology.
MPC is a cryptographic technology that can enhance existing multi-signature methods by effectively allowing wallet keys to be “shared” between the user and Coinbase.
This way, if the user loses access to their device, the wallet key remains safe and can be recovered.
Coinbase will also be able to block the wallet if the user notifies the exchange of their exploit.
Currently WaaS is used by Floor, Moonray, Thirdweb and Tokenproof.

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