• Exodus has launched a new “Passkeys Wallet”, which will make Web3 easier for new users.
  • The company announced that developers will be given additional incentives to incorporate the wallet into their apps.
  • Passkeys Wallet supports multiple blockchains including Bitcoin and Solana.

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  • Bitcoin trading flat below $17K, Ether breaks trendline from previous bear cycle lows

  • MetaMask has a plan to help victims of crypto scams

  • Why you should keep your crypto on a hardware wallet

Exodus, a crypto wallet provider, has launched a new product to improve the Web3 user experience for those new to the industry.

The “Passkeys Wallet”, will allow new users to create a wallet for exploring various decentralized applications (dapps), without creating a brand new wallet or leaving an application. With this Passkeys Wallet you can create a self-cautious, encrypted wallet with just a click of the finger,” David Reising told CoinDesk.

The complexity of the user interface has been a major barrier to mass adoption. Many Web2 users who are interested in crypto have been deterred by the complexity of the user experience. Users need to use separate wallets to interact with dapps and remember 12-word seed phrases. For crypto to bank the unbanked it needs a streamlined UX, like Web2 apps like Instagram or Facebook. Exodus wants to achieve this for newcomers in the industry.

“If I am a user, then I do not need to sign-up, there is no email verification and I don’t have to worry about importing or managing 12-word mnemonic phrases [seed phrase]. Reising explained that the system removes a lot of complexity. Exodus also worked with payment partners to make it easy for new users to fund their Passkeys Wallet, he said.

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Passkeys Wallet is not a magic solution that can do it all for users. Developers will need to integrate it into their applications. Exodus claims that it makes it easy for developers to integrate with the wallet in “just a couple of lines of code” and it uses Multi-Party Computation technology (MPC) for security. Reising added that Exodus will also share revenue with developers on all on-chain transactions.

Exodus Wallet’s Class A shares trade on an OTC market under the ticker “EXOD”. Exodus Wallet’s attempts to list on NYSE American (the New York Stock Exchange sibling market) were delayed at the eleventh hour, after the U.S. Securities and Exchange Commission said that agnecy was still reviewing Exodus Wallet’s registration statement.

Crypto is cool. Why not start with more user-friendly tools?

Stephen Alpher edited the book.