2022-12-04
Ethereum Global News

Web3 DApp improves staking and transfers on Polkadot and DotSama

As the world moves to a multichain reality, user-friendly interfaces are becoming standard across all networks, not just Ethereum.

MyDotWallet: Partnership Material

The learning curve for blockchain and its related topics is steep. To this day, even those familiar with blockchain terminology need help to perform basic functions like storing, trading and transacting with crypto assets, in addition to using nonfungible tokens (NFTs) for any of their intended use cases beyond being a digital collectible. For this reason, the unfortunate reality is that despite networks like Ethereum being diverse in utility across payments, storing data and other decentralized finance (DeFi) use cases, mass adoption continues to meet challenges since few know how to interact with blockchain technology.

A lack of adoption doesn’t mean blockchain and crypto aren’t the future. Instead, humans must recognize that a consumer-centric experience is needed to demonstrate the utility of a new technology like blockchain. Consider the parallel between blockchain and the internet. When the internet was first introduced, few understood how its existence could benefit them. The internet wasn’t widely used until website-building platforms became popularized as an easy-to-use solution to help businesses and personal users create an online presence of their own.

Recognizing that a major barrier to blockchain adoption is usability, MyEtherWallet (MEW) made it its aim to create a free, client-side interface to help users interact with the Ethereum blockchain. The resulting, easy-to-use, open-source platform now includes an expanding product suite that gives users access to the diverse functionality Ethereum has to offer. Taken together, the platform includes a web platform, mobile app, Chrome extension (Enkrypt), blockchain explorer and educational resources for new and experienced users alike.

After being met with initial success as a gateway to the Ethereum blockchain, MEW has announced the release of a new Web3 decentralized application (DApp) called MyDotWallet. With MyDotWallet, users will have access to improved staking and transfer functionality, among other actions, in the Polkadot/DotSama ecosystem.

Since the beginning

Since the beginning, MEW has been in the Ethereum space, attempting to make interacting with Ethereum a more friendly and intuitive experience. MEW has since allowed users the ability to manage any token on Ethereum from MEW, interact with any smart contract on Ethereum or purchase Ethereum with a credit card through the platform’s providers. However, as the world moves to a multichain reality, the open-source platform has made it a priority of continuing to support its users through this transition.

Already, MEW has included a multichain wallet extension by the name of Enkrypt to allow users to access their most-used DApps on the Ethereum and Polkadot chains, in addition to buying crypto, swapping tokens and managing their NFTs on both networks.

Kosala Hemachandra, CEO and founder of MEW, shares:

“We are excited for MyDotWallet to be the continuation of MEW embracing the multichain future that we began with Enkrypt. It is incredibly important for users to be able to explore and engage with various blockchains and the features that make them unique. This cross-pollination between ecosystems will serve to make the industry stronger as we de-silo it, and allow users to explore like never before.”

MORE INSIGHTS FROM MYDOTWALLET HERE

With this release, users can take advantage of the multichain interoperability protocol that some experts deem an Ethereum successor, given the number of active developments on the platform.

A multichain future

This DApp, as well as the previous MEW product suite including the Enkrypt Web3 wallet, are evidence of the platform’s focus on the emerging multichain landscape and commitment to creating secure, noncustodial crypto solutions with interfaces that are easy to navigate for beginners.

Moving forward, MEW is strongly positioned to continue adding new features to support users with mass blockchain adoption.

Material is provided in partnership with MyDotWallet

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Source : Cointelegraphcom