Coinbase released its browser extension based standalone wallet to access the wallet’s all features.
In May of this year, Coinbase announced that they will launch an extension for the Coinbase wallet. But after a browser extension of Coinbase wallet was not able to fulfil the requirements of their users because that was the only extension to link the wallet. And all the transaction-based services were needed to authenticate with the use of a smartphone wallet. So it was only a type of formality or we can say Coinbase tried to provide a watch-only wallet facility.
But now in the latest, Coinbase launched Coinbase Wallet’s full standalone extension. That extension will not require any kind of authentication from the installed wallet in mobile. Users will be able to handle all their crypto trading, decentralized apps (dapps), and NFTs, all from their browser without confirming transactions on their smartphones.
In an interview with the crypto news media, one of the spokesperson talked about it and said
“The previous downloadable Coinbase Wallet browser extension, while a step in the right direction, still required the user to have the Wallet mobile app installed, whereas the new version does not”
Now, there are huge chances that Coinbase will easily compete with Metamask like web wallets.
Sid Coelho-Prabhu, The product manager at Coinbase group, said that they will continuously work to improve their ecosystem. And also they will empower everyone to use dapps and web3 by building the easiest-to-use and most accessible self-custody wallet in the ecosystem.”
Coinbase vs Security
A few months back, CNBC covered the news regarding the Coinbase services users and they were also victims of the hacking attack, who lost a huge Money. In reply, Coinbase said that CNBC is trying to defame them and Coinbase is fully aware of all possible risks and they remain always active against any attack. And also users are only responsible for their losses.
But here the initiative of Coinbase with the web extension based idea is not good. Because on one side, Coinbase is facing criticism because of lack of security then how Coinbase team can take this initiative with the browser-based wallet, which are not supposed safe things to hold funds.
Probably, the Coinbase team needed to release an old update to not compromise with the security of their users.