Coinbase Releases New Crypto Wallet To Protect Personal Consumer Key

Coinbase launched the WaaS wallet. (Photo; Doc. Tech Crunch)

JAKARTA The largest crypto trading company in the United States, Coinbase, launched a crypto wallet solution called Waas (Walket as a Service). The launch of this crypto wallet is part of Coinbase's efforts to protect its users.

On May 23, Coinbase officially released WaaS on the Ethereum blockchain. That way, Coinbase users can create crypto wallet accounts, access and recover their wallets easily. Users only need to enter their name and password.

WaaS uses MPC (Multi-Party Computation) technology which can provide maximum level of security to its users in conducting cryptocurrency transactions.

Interestingly, this MPC technology has its own advantages, where crypto wallet passwords are divided into several parts distributed among its owners. So that crypto assets stored in WaaS will remain safe, especially from hacker attacks.

Not only that, but WaaS can also connect with Web3 through API (Aplication Programming Interface) and SDK (Software Development Kit). Users can take advantage of this feature to print NFT or create digital items in the game with just a few API calls.

Coinbase is currently facing a lawsuit from the US Securities and Exchange Commission (SEC). However, Coinbase's latest move prompted the company to prioritize protecting its consumers' crypto assets.