This new wallet format boasts a full-featured user interface, enabling users to swap tokens, view balances, and monitor transactions directly within the application.
At the Solana Breakpoint Conference in Singapore today Phantom, the leading Solana wallet, introduced an innovative embedded wallet designed to streamline the onboarding process for new users.
This development emphasizes Phantom’s commitment to creating a user-friendly experience in the world of decentralized finance (DeFi).
Seamless User Experience
Phantom’s embedded wallet allows users to create secure, self-custodial accounts without the traditional complexities associated with cryptocurrency wallets. Users can now sign up using just their email address and a four-digit PIN, eliminating the need for seed phrases, a common barrier to entry for many new users. The embedded wallet operates on an open-source protocol, ensuring that key management is fully decentralized and secure.
Today at @SolanaConf, we announced embedded wallets to help developers simplify new user onboarding.
The most trusted, user-friendly wallet will also be the most app-friendly:
📧 Seedless sign-in
✨ Full-featured UI
🌐 Universal Phantom accountAll for 🆓 pic.twitter.com/6Z42QVb3np
— Phantom (@phantom) September 20, 2024
This new wallet format boasts a full-featured user interface, enabling users to swap tokens, view balances, and monitor transactions directly within the application. Developers can now focus on enhancing their core products while leaving wallet functionalities to Phantom, thereby fostering a smoother integration into their applications.
Universal Phantom Accounts
Phantom’s latest innovation includes the concept of a universal Phantom account, which ensures that users can access their wallets across different platforms — be it embedded, mobile, or as a browser extension. This seamless transition allows users to easily switch between apps and devices while maintaining access to their accounts. For those who prefer a more comprehensive experience, upgrading to the mobile or extension versions remains an option.
Phantom has partnered with several prominent teams within the Solana ecosystem to launch these embedded wallets. Launch partners include notable projects like Jupiter Exchange, Raydium, Orca, Drift Protocol, Save Finance, Kamino Finance, and Lulo. This collaborative effort aims to enhance the functionality and appeal of the embedded wallet, positioning it as a vital tool for developers and users alike.
Enhancing User Identity
In addition to the embedded wallet, Phantom recently introduced usernames, a significant enhancement aimed at personalizing the user experience. This feature allows users to create custom usernames, which can be used to send and receive cryptocurrencies easily, replacing complex wallet addresses. This shift not only simplifies transactions but also helps reduce errors, making crypto more accessible to everyone.
The username system is designed to be fully opt-in, giving users complete control over their identity within the Phantom ecosystem. Users can choose to create a unique name, enhancing their interaction with the platform while keeping their privacy intact. The usernames are not tied to personal data, ensuring that sensitive information remains secure.
Phantom’s latest advancements reflect a broader trend in the cryptocurrency industry, focusing on user-friendly solutions that encourage adoption. With its commitment to improving the onboarding process and enhancing user engagement, Phantom is poised to maintain its reputation as a leading player in the cryptocurrency space.
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