- The exchange will provide free usernames “name.cb.id” to users.
- Despite the recent market slowdown, simpler wallet titles are gaining traction.
With the increasing popularity of more user-friendly wallet addresses in the blockchain industry, cryptocurrency exchanges Queen Piece cooperated with ENS To provide users with unique usernames instead of their standard Coinbase wallet addresses.
The exchange stated in a post that it will provide free usernames “name.cb.id” to users. A new address may be claimed and used in transactions with the help of the Coinbase Wallet browser plugin. The short name can be used in place of the 42-character long alphanumeric address to send and receive cryptocurrency.
More convenient approach
In addition, the statement stated that this measure is necessary to create a globally accessible financial system. Coinbase claims that “readable” usernames will help make Web3 more accessible. The company emphasized the importance of simple usernames. Especially in removing the worry of sending tokens and NFTs using traditional wallet addresses.
Coinbase has defended its choice of usernames by noting that, as well as being easy to use. They provide customers with a solid foundation for building a unique digital personality. However, the company acknowledged that this is only the beginning and that more work is needed to fill “identity gaps” before Web3 can register billions of users.
Despite the recent downturn in the market, simpler wallet addresses have gained traction among users. In July, 126,141 people registered for the ENS in one week, a 200 percent increase from the previous month. This happened when the average gas price was on Ethereum The price of the network has dropped to $1.57, making it the second most expensive network.
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