MyEtherWallet Has Been Fully Redesigned
MyEtherWallet, a popular Ethereum wallet, has decided to fully redesign its product and now its website has been redesigned as well as some new features were added to improve the quality of life of the users.
According to the CEO of the company, Kosala Hemachandra, the focus of the company, since its launch, has been on educating the users about wallet safety so they could keep their funds protected.
Back in 2015, when the wallet was launched, almost all the users were tech-savvy people, however, cryptos are being more adopted now than they have been on a while, which has prompted by the bull run we have seen in 2017, so now is the time to change to cater to this new demand. If the users are not niche anymore, the tools need to be designed to welcome newcomers.
MyEthereumWallet Version 5
This new version of the MyEthereumWallet will be Version 5 of the program. It will display wallet balances automatically and you do not need to check your funds via third-party apps. You can also compare prices on Changelly, Kyber and Bity easily. All of this was made to improve the user experience and make it more palatable for the new users.
Another improvement was made because several sites try to copy MyEthereumWallet in order to scam the users. In fact, this was a very notorious move and most of the old-timers are already knowledgeable about these facts.
Because of this, the users are now being educated to using hardware wallets other than accessing their money via riskier methods. This was deemed as an important move because the audience is new and not so used to checking whether the site is real or not.
Another new feature that will exist in this new version is the SendSafe security option, which will use smart contracts in order to reroute outgoing funds. The CEO of Coral Protocol, which has developed the technology, has affirmed that the goal is to prevent fraud and to prevent the user from sending money by accident.
MyEthereumWallet has a very important role for the ETH ecosystem. As you may know, this wallet only lets you store Ethereum and ERC20 tokens. It is incompatible with Bitcoin, Ripple’s XRP and other assets which exist outside of the ETH network.
The platform is a fully open source and also enables the user to use dapps (decentralized applications) and to deploy smart contracts directly from the platform.
MyEthereumWallet has a partnership with hardware wallets like Trezor and Ledger Nano in order to be compatible with these hardware wallets and to offer more security for the users.