when there is a cryptocurrency project Modern multi-chain experiences are increasingly becoming a necessity for widespread adoption.
As the use cases of blockchain technology have increased, so have the number of related projects and related cryptocurrencies. While this may seem like a move to a future based on user autonomy, the current Web3 environment does not address this.
With the emergence of more and more blockchain ecosystems, navigation is becoming increasingly complex. Switching between different wallets, bridges and exchanges is required. The answer seems simple: simplify the complexity by focusing on the multifaceted process of buying, trading and exchanging assets. Regardless of the ecosystem, it is the only starting point. An example is a mobile app or browser extension that can provide an Ethereum-compatible blockchain digital wallet.
The caveat is that this is only an incidental solution to the larger problem of third-party adoption. It should be noted that currently there are only one or two solutions available to navigate the complex cryptocurrency landscape. which would have some degree of monopoly and therefore natural acceptance. in simple terms, if only one platform provides a better user experience and that platform doesn’t work. The number of trusted users will also decrease, so many are interested in offering a more user-friendly solution to the growing market.
The crypto created by MyEtherWallet (MEW) aims to solve this problem. Originally billed as the first wallet interface for Ethereum, the team set out to solve this emerging market problem by working with Polkadot to create a Web3 compatible wallet extension. Self, released under the name Enkrypt.
In response to this mission, MEW Founder and CEO, Kosala Hemachandra said;
“Ethereum and Web3 are revolutionizing crypto from simple value transfer chains like Bitcoin, but developing smart contract chains presents challenges for users. With Enkrypto, we are the solution for better user experience and interoperability. smooth in a multi-chain future’.
The goal of such a solution is to improve usability and increase acceptance. Widespread use of cryptocurrencies and Web3 is closer to reality.
Customize the multichain experience for the masses.
Cryptography is designed as a multi-chain tool that allows different cryptocurrencies to be stored in the same space. This eliminates the need for users to use multiple wallets. This wallet extension allows users to store Polkadot Networks, Polkadot Parachains, Ethereum and Ethereum Compatible Assets (EVM) in a single interface.
In many ways, using Enkryptu is similar to leading offerings like MetaMask, which are available as browser extensions and mobile apps. Users will have access to the main vault. secure connection A token storage and exchange solution, making it a more comprehensive asset management tool.
However, to further improve usability, Enkrypt will focus its efforts on ease of use for the average user. More than those who are familiar with the complex workings of digital wallets. Demonstrate the goal of simplicity Consider how the team designed some of these processes.
For example, funds can be transferred to a crypto wallet from another wallet. Exchange wallets or others by clicking the deposit button. Selecting this option opens a set of commands to ensure that users are connected to the correct network and redirected to/from the correct address. It makes a difficult process as simple and straightforward as possible.
More about ENKRPYT
Once launched, deposit, buy and exchange operations can be performed on many popular blockchains including Ethereum, Polygon, BNB Smart Chain, Goerli, Polkadot, Kusama, Moonbeam, Moonriver, Acala and Karura.
Complex portfolio solutions
while many works are in progress The start of the project is set for August 3, 2022, but this is only the beginning. The team plans to support more networks in the Ethereum ecosystem, and Polkadot is the starting point. and can be extended to include other blockchains as needed.
As industry experts predict, the scalable network space of smart contracts will continue to grow and become more interoperable.