Dapper Labs has released Dapper, a new Ethereum smart wallet that’s meant to make interacting with blockchain technology easier. According to the creators of the wallet, it combines convenience, usability, and decentralisation without sacrificing security.

Users will have an innovative yet secure way of storing their digital assets outside of centralised exchanges and existing hardware or software wallets.

Dapper provides users with decentralisation and safety. Their product gives users complete control over the way they manage their cryptocurrencies. Currently, the wallet is still in the beta phase, so some of its features haven’t been implemented yet.

For now, the smart contract wallet is only available for Chrome, for example. However, its developers promise to launch versions for iOS and Android soon.

How Dapper works

Dapper Labs is probably better known for being the creator of CryptoKitties. Remember, that blockchain application and collectibles game built with the ERC-721 standard on Ethereum? The one that bottle-necked its entire network?

Its developers needed a new tool for storing digital assets. So, they came up with this smart contract wallet aiming to fill a gap in the market.

To start with, Dapper is the first smart contract wallet that’s publicly available on the Ethereum blockchain. Moreover, this product is different from all previous wallets in that it’s safe and easy to use. Its creators wanted to provide users with improved user experience on the blockchain.

Between centralised exchanges, where a company has control over your digital assets, and individual non-custodial wallets, which remain locked forever if your private keys are lost, users need a more secure yet decentralised way to manage their assets. This includes not only cryptocurrencies, but also crypto collectibles like CryptoKitties.

Solving the problem of non-custodial wallets

As a workaround to users losing access to their accounts, this smart wallet provides them with recoverability and fraud protection.

Using Dapper, cryptocurrency owners secure their digital assets through an open source smart contract. The wallet owner receives the master keys that enable them to have complete control over their funds. This also makes transactions easier and safer.

The smart wallet enables users to manage the NFTs (Non-Fungible Tokens) that power the CryptoKitties network. But they can also store and manage ERC-20 and ERC-721 tokens. Furthermore, they can use Dapper to buy Ethereum (ETH) with their credit card, thanks to an integrated service provided by Simplex.

This is possible as a smart contract allows Dapper to become a co-signer on every transaction a user makes. This way, the wallet – which runs as a Chrome plugin – can monitor all your activity and identify any unusual behaviour .

If Dapper detects something suspicious, such as large sums sent to a strange address, a login from a different geographical area, or a request to empty an account , it will proceed with verification before confirming the transaction. These security features are for prevention only, as the tool can’t move or spend your funds without your approval.

As for recovering access to your account in the case of lost devices or keys, Dapper uses a so-called Rescue Kit to give you access to your account.

Despite having all these features programmed, Dapper won’t have access to your cryptocurrency or digital collectibles, so you’re in complete control of your funds.

An easier way to access the blockchain

The ultimate goal of Dapper is to make blockchain technology more accessible for all users, not just the tech-savvy blockchain adopters.

Dapper CEO Roham Gharegozlou stated:

“We’re building Dapper because blockchain is still too hard to access, use, and understand. Dapper’s goal is to make it easy and safe, starting with the technical and design breakthrough of the smart contract wallet itself.”

Both CryptoKitties and Dapper have a friendly game-like design that allows users to engage with the new technology in a less intimidating way. Dapper is already integrated with several games that encourage interaction between users.

Besides CryptoKitties, the smart contract wallet supports Etheremon, Decentraland, My Crypto Heroes, Opensea, MegaCryptoPolis, Formula 1, and Gods Unchained, with other games to be added later.

The wallet provides freedom from fees and one-click convenience, as the fees are covered through blockchain games and collectibles experiences.

The takeaway

Dapper is turning cryptocurrency and crypto collectible storage into a game. And that isn’t necessarily a bad thing. A better understanding of how blockchain technology works and how end users can benefit from it may lead to increased adoption of blockchain and cryptocurrency.

The post How a new Ethereum smart wallet is making crypto easier to use appeared first on Coin Rivet.

(Excerpt) Read more Here | 2019-05-16 08:00:00
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