• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Senators grill federal officials over lack of oversight into SVB, Signature Bank collapse

2023-03-28

Disney Metaverse Division Reportedly Scrapped

2023-03-28

CFTC ‘Pretty Confident’ in Case Against Binance, Says Chairman Rostin Behnam

2023-03-28
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Disney Metaverse Division Reportedly Scrapped

    2023-03-28

    Animoca Denies $200M Metaverse Fund Cut

    2023-03-27

    Metaverse Trading Hits All-Time High

    2023-03-24

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Senators grill federal officials over lack of oversight into SVB, Signature Bank collapse

    2023-03-28

    CFTC ‘Pretty Confident’ in Case Against Binance, Says Chairman Rostin Behnam

    2023-03-28

    OKX becomes latest exchange to apply for Hong Kong VASP license

    2023-03-28

    Balaji Srinivasan Says Millions of Worried Depositors Could Wire Money to Bitcoin As Banks Get Too Big To Escape

    2023-03-28

    Binance CEO CZ reveals copy of letter to US Senators – weeks before CFTC lawsuit

    2023-03-28
  • Learn

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    2023-03-15
  • Market Cap
CryptoNewsMetaverse
Home»MyEtherWallet CEO talks about the future of crypto self-custody

MyEtherWallet CEO talks about the future of crypto self-custody

2023-01-06No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

In the third episode of the Hashing It Out podcast, Cointelegraph’s Elisha Owusu Akyaw discusses the future of noncustodial cryptocurrency wallets with Kosala Hemachandra, CEO of MyEtherWallet.

Recent issues with centralized platforms have put the spotlight on decentralized applications (DApps), and self-custody — where users keep their funds completely under their responsibility — has become a major trend.

Check the whole library of Cointelegraph podcasts here.

MyEtherWallet is one of the oldest noncustodial wallets with a focus on the Ethereum blockchain. According to Kosala Hemachandra, the wallet went live just two weeks after the Ethereum mainnet launch. The CEO of MyEtherWallet explained that the company chose to make a decentralized wallet because it believed it was the only proper way to interact with blockchain technology.

“Blockchain, at its core, is a decentralized solution, so why would we create products that are centralized? Because we are defeating the whole purpose of using blockchain.”

Hemachandra explains that MyEtherWallet started as a hobby project that became more demanding since there were no examples to look at during its development. The developer had to write new Ethereum libraries in Javascript.

The need to build a foundation of codebases that could accelerate growth in the Ethereum landscape was the reason the team opted to make the code open source. What’s more, the open-source nature of the code allows the platform to have more eyes on its codebase to prevent potential vulnerabilities.

Despite growing competition, MyEtherWallet has over 3 million monthly users, mainly from the United States and Japan. To catch up with the likes of MetaMask, the decentralized wallet is adding support for more blockchain networks and recently launched a multichain browser extension. Hemachandra also pointed out that the first two weeks after the FTX saga brought in many new users looking for decentralized alternatives to store their crypto.

Related: Crypto trader regrets not catching the top of the bull run

On trends in the industry, Hemachandra mentioned that MyEtherWallet has yet to make plans to do an airdrop for its users despite rumors that some of its competitors may launch their own tokens soon. According to the CEO, MyEtherWallet doesn’t see any use cases for tokens released by wallet applications at the moment.

In the episode, Elisha and Hemachandra also cover:

  • New features for decentralized wallets.
  • The Ethereum ecosystem and the popularity of layer-2 platforms.
  • A multichain future in the blockchain ecosystem.

Hashing It Out is a new Cointelegraph podcast series covering innovations and important stories in the blockchain industry, featuring interviews with thought leaders in the space hosted by Elisha (GhCryptoGuy).

For more discussion with Hemachandra, listen to the full episode of Hashing It Out on the new Cointelegraph Podcasts page or Spotify, Apple Podcasts, Google Podcasts or Amazon Music.

Source link

CEO Crypto future MyEtherWallet SelfCustody talks
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Binance CEO CZ reveals copy of letter to US Senators – weeks before CFTC lawsuit

2023-03-28

Coinbase Executive Says US Government Squandering Lead in Technology With Lack of Crypto Regulatory Clarity

2023-03-27

CFTC Goes After Binance and Changpeng Zhao With Lawsuit, Bitcoin (BTC) and Crypto Markets Get Rocked

2023-03-27

US Prosecutors Slam Terra (LUNA) Founder Do Kwon With Eight Counts of Fraud for 2022 Crypto Collapse

2023-03-26
Add A Comment

Leave A Reply Cancel Reply

Top Posts

White House publishes ‘first-ever’ comprehensive framework for crypto

2022-09-17

ConsenSys raises $450M in Series D funding, doubles valuation in four months

2022-03-16

SEC’s Crypto Stance Throwing Wrench in Industry’s Lending Markets: Report

2022-09-18

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Senators grill federal officials over lack of oversight into SVB, Signature Bank collapse

2023-03-28

Disney Metaverse Division Reportedly Scrapped

2023-03-28

CFTC ‘Pretty Confident’ in Case Against Binance, Says Chairman Rostin Behnam

2023-03-28
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,411.001.18%
  • ethereumEthereum(ETH)$1,781.103.73%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.10%
  • binancecoinBNB(BNB)$314.061.21%
  • usd-coinUSD Coin(USDC)$1.00-0.14%
  • rippleXRP(XRP)$0.539.16%
  • cardanoCardano(ADA)$0.3769689.03%
  • Lido Staked EtherLido Staked Ether(STETH)$1,776.286.74%
  • dogecoinDogecoin(DOGE)$0.0743422.17%