In the third centralizationCointelegraph's Elisha Owusu Akyaw discusses the future of unmanaged digital money wallets in the podcast and discusses the issue with MyEtherWalletCEOKosala Hemachandra.

Recent problems on centralized platforms have put the stage spotlight on fragmented applications (Dapp), and it has become an inevitable trend for customers to share all of their assets with their own escrow.

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MyEtherWallet is one of the oldest unmanaged wallets dedicated to Ethernet blockchain technology. According to Kosal Hermachandra, the wallet was launched two weeks after the etheric online release. MyEtherWallet's CEO explains that the company chose to make a decentralized wallet because it felt it was the only appropriate way to communicate with blockchain apps.

The key to blockchain technology is the decentralized solution, why do we have to create centralized products? As we are frustrating all the targets for the application of blockchain technology.

'i started out as a favorite new project, and then it became more and more demanding because there were no examples to look at in its research and development process, 'Hermachandra explained. Developers must write a new Etherum library using Java scripts.

The premise that a code base must be built to accelerate improvement in an etheric environment is the main reason why elite teams open source code. More importantly, the open source system feature of coding allows the service platform to pay more attention to its code base in order to avoid hidden system vulnerabilities.

Despite the increasingly fierce competition in the market, MyEtherWallet still has more than 3 million monthly customers, with the key coming from the UK and Japan. In order to catch up with companies such as MetaMask, the decentralized wallet has increased its support for a large number of blockchain networks and recently launched a multi-link browser extension. Herma Chandra also mentioned that in the two weeks since the FTX incident, many new customers have been exploring piecemeal alternatives to store his login password.

Referring to the situation in this area, Hemachandra mentioned that MyEtherWallet does not have an airdrop plan for its customers, despite rumors that some of its competitors are likely to release their own tokens soon. According to the CEO, MyEtherWallet has not seen all the test cases for the OTP released by the wallet application at this stage.

In this centralization, Elisha and Hermachandra also include:

  • The features of a decentralized wallet.
  • The rise of the Ethernet ecosystem and the second-tier service platform.
  • Multi-chain future in blockchain ecosystem.

Settle this matter once and for allIs a new Cointelegraph podcast series covering breakthroughs and key stories in the blockchain market, featuring interviews with concept leaders in the space hosted by Elisha (GhCryptoGuy).

For a deeper discussion with Herma Chandra, please listen to the collectionSettle this matter once and for allOn new Cointelegraph podcast pages or Spotify, Apple podcasts, Google search podcasts or Amazon platform songs.

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