Sunday, November 27, 2022
 

Coinbase Builds a New Decentralized Identity Feature for Its Users

  • The new decentralized identity feature has gone live in Coinbase Wallet, providing users with a free decentralized username.
  • The Coinbase username is a decentralized form of ID that allows users to personalize their wallet address, making it easier to access web3.
  • With the Coinbase decentralized ID, one can locate and send funds easily to another user.

The new decentralized identity feature has gone live in Coinbase Wallet, and users can claim their free decentralized username.

The Coinbase username is a type of Ethereum Name Service (ENS) domain, a decentralized identity infrastructure provider, that is built on top of the ENS infrastructure. The structure of the Coinbase username consists of a “subdomain” tied to Coinbases’s Domain Name System (DNS) domain, which is cb.id.

This new username is a decentralized form of ID that allows users to personalize their wallet address, making it easier to access web3. With the Coinbase decentralized ID, one can locate and send funds easily to another user.

In addition, the cb.id domain can be used on multiple networks and makes it easier for the public to understand that a username is not tied to Ethereum. Currently, the subdomain name is stored off-chain instead of on-chain, but Coinbase plans to further decentralize the subdomain and migrate it on-chain.

In order to claim a new cb.id username, users need to click on the ‘Community’ tab and select “Claim for free”, which would require users to follow the prompts and click on “Claim username”.

There is a mixed reaction by the public for the new decentralized identity feature. Some users say it is another method for cryptocurrencies to get personal information, while others claim it to be a “good feature”.

The Coinbase wallet is a wallet where one can store all their crypto and NFTs in one place and also protects users’ digital assets. The Coinbase Wallet can be connected to Solana dapps, which helps to explore the Solana ecosystem.

  • The new decentralized identity feature has gone live in Coinbase Wallet, providing users with a free decentralized username.
  • The Coinbase username is a decentralized form of ID that allows users to personalize their wallet address, making it easier to access web3.
  • With the Coinbase decentralized ID, one can locate and send funds easily to another user.

The new decentralized identity feature has gone live in Coinbase Wallet, and users can claim their free decentralized username.

The Coinbase username is a type of Ethereum Name Service (ENS) domain, a decentralized identity infrastructure provider, that is built on top of the ENS infrastructure. The structure of the Coinbase username consists of a “subdomain” tied to Coinbases’s Domain Name System (DNS) domain, which is cb.id.

This new username is a decentralized form of ID that allows users to personalize their wallet address, making it easier to access web3. With the Coinbase decentralized ID, one can locate and send funds easily to another user.

In addition, the cb.id domain can be used on multiple networks and makes it easier for the public to understand that a username is not tied to Ethereum. Currently, the subdomain name is stored off-chain instead of on-chain, but Coinbase plans to further decentralize the subdomain and migrate it on-chain.

In order to claim a new cb.id username, users need to click on the ‘Community’ tab and select “Claim for free”, which would require users to follow the prompts and click on “Claim username”.

There is a mixed reaction by the public for the new decentralized identity feature. Some users say it is another method for cryptocurrencies to get personal information, while others claim it to be a “good feature”.

The Coinbase wallet is a wallet where one can store all their crypto and NFTs in one place and also protects users’ digital assets. The Coinbase Wallet can be connected to Solana dapps, which helps to explore the Solana ecosystem.

 

Latest news