The open source DApp browser and wallet which has been designed by Coinbase is now officially changing its name. From now on, the old ‘Toshi’ will be known as ‘Coinbase Wallet’.
The company announced the news in a Medium post this Wednesday. In it, Coinbase said that the name change will align with the branding of the company – but also will build authority and push more investments that may shape the future of the decentralized web.
The wallet which was launched last year and inspired by mobile money apps like WeChat is also getting a new user interface.
According to the Product Lead at (former) Toshi, Siddharth Coelho-Prabhu, the Toshi app would “upgrade to Coinbase Wallet” shortly and users can look forward at the “same product” with a new and enhanced look.
There will be some upgrades made to the app – in which Coinbase Wallet is expected to serve as a home for “exploring the decentralized web” and all the possibilities coming along with it. Aside from managing Ethereum and ERC-20 tokens (which was possible on Toshi), the new Coinbase Wallet will also support Bitcoin, Bitcoin Cash as well as Litecoin.
Users on the Coinbase Wallet will be able to receive ICO tokens, airdrops and access leading exchanges directly from it – or store their crypto collectibles. When it comes to security, Coinbase said that the new wallet will be equipped with the “best-in-class secure storage” which will secure private keys using the “Secure Enclave of each device and biometric authentication technology”.
In the end, Coinbase’s plans are to make the new Coinbase Wallet an all-around wallet so that users can be confident in storing their crypto and “explore the universe of third-party dApps”. It will make everything possible – from taking out loans to completing tasks – all in exchange for crypto payments.
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