Coinbase Launches Feature Allowing Direct Messaging Between Ethereum Addresses
• US-based crypto exchange platform Coinbase is rolling out a new decentralized chat feature for its wallet powered by web3 chat protocol XMPT.
• The new function allows users to search for others or connect with each other through the use of a QR code, and also includes the ability to import and export chat logs to other projects, and gas-free transfers of stablecoin USD Coin (USDC) over layer-2 scaling solution Polygon (MATIC).
• The feature grants users ownership of their chats as Coinbase does not have access to them.
XMPT Protocol Enables Direct Messaging
Coinbase’s new decentralized chat feature is powered by web3 chat protocol XMPT. This enables users to find others or connect with each other through the use of a QR code, as well as importing and exporting chat logs to other projects. Furthermore, it provides users with gas-free transfers of stablecoin USD Coin (USDC) over layer-2 scaling solution Polygon (MATIC). Users are granted full ownership of their chats as Coinbase does not have access to them.
Secure Encryption & Ownership
Coinbase Wallet’s messaging feature utilizes secure end-to-end encryption and is stored in XMTP’s decentralized communication network. This means that only the user has access to their messages, ensuring that their data remains private and secure. As such, users fully own their chats without any interference from Coinbase.
Interoperability With Other Projects
The new messaging feature also provides interoperability with other projects, allowing users to import or take their chats with them when using social DApps (decentralized applications). Furthermore, sending payments on the platform can easily be done without incurring gas fees in the app due to its integration with Polygon’s layer 2 scaling solutions for USDC transfers.
Coinbase Wallet has unveiled an exciting new direct messaging feature that runs on web3 chat protocol XMPT. It ensures secure encryption while granting full ownership of chats back to users. Additionally, its interoperability allows for importing and exporting chat logs between projects along with gas-free payment options via USDC over Polygon’s layer 2 scaling solutions.