New Coinbase Smart Contract Wallet Eliminates Gas Fees and Clawback Requirements

  • Coinbase has launched a smart contract wallet with simpler integration and no gas fees.
  • The smart contract wallet supports Ethereum, BNB, Polygon and others for seamless transactions.
  • Developers using the smart contract wallet can waive gas fees.

In an effort to improve user experience and streamline cryptocurrency transactions, Coinbase, a leading cryptocurrency exchange, has revealed its latest innovation: the Coinbase Smart Contract Wallet.

The revolutionary smart wallet promises to revolutionize the way users interact with cryptocurrencies by eliminating gas fees and simplifying the onboarding process.

Key Features of the Coinbase Smart Contract Wallet

Unlike traditional wallets that require users to manage complex recovery sentences and pay gas fees for transactions, the Coinbase Smart Contract Wallet offers a seamless and cost-effective solution.

One of the key features of the smart contract wallet is its simplified onboarding process. Users can create a new wallet and integrate a blockchain without the need to download additional applications or manage recovery phrases. Instead, the smart wallet integrates seamlessly with major apps and offers multiple authentication methods, including Face ID, Fingerprint ID, and Yubikey.

Additionally, the smart wallet provides self-custody, allowing users to have full control over their funds. Users can make payments directly from their Coinbase wallet or Coinbase account, further enhancing convenience and accessibility.

Another notable aspect of the Coinbase Smart Contract Wallet is its integration with major blockchain networks.

At launch, the wallet will support a variety of networks including Base, Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB Chain, and Zora. This multi-chain support allows users to access a wide range of cryptocurrencies and decentralized applications (DApps) within a single platform.

Additionally, Coinbase introduced a unique feature that allows developers to waive gas fees by sponsoring transactions through a payer. This incentivizes developers to support smart wallet adoption and contribute to a smoother user experience.

The companion web application serves as the primary platform for users, offering comprehensive asset and identity management, as well as features such as buying, sending, trading, NFTs, and asset history. transactions.

Coinbase aims to provide users with a smooth and intuitive experience throughout their interactions with the smart wallet.

Loopring and Argent pioneered smart contract wallets

Coinbase is not the first to launch a smart contract wallet. It only builds on the growing trend of smart wallet technology in the cryptocurrency space.

Smart contract wallet technology has been pioneered by companies like Loopring and Argent. The wallets offer improved security, usability and profitability compared to…

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