A crypto wallet is more a part of the cryptocurrency infrastructure rather than a service application. The core functions to use a cryptocurrency such as creating an account, sending and checking balances are done via a crypto wallet. So the most fundamental thing for mass adoption of cryptocurrency is to provide an environment where people can use cryptocurrency easily like existing daily-use services. Of course, services for use are the key to mass adoption, but in this article, let me focus on the wallet, a more fundamental component of the crypto world.
Let’s think about the basis for cryptocurrency mass adoption: 1) there exist multiple cryptocurrencies, 2) core functions like sending, receiving and checking should be easy, safe and cheap, and 3) there are services where people can use cryptocurrencies. Those three things are vital and complementary for mass adoption.
We have designed and developed MoA with those components in mind to provide a service that 1) has an easy UX, 2) supports cryptocurrencies, and 3) integrates with other systems.
No web-extension is needed for MoA.
Everyone agrees that an easy UX is important, which is no surprise — but most existing wallets seem difficult to use. Recently we conducted a survey to learn about the biggest obstacles present in the usage of a crypto wallet. The result was not surprising at all because we already suspected the answer, namely that people have difficulty in installing a web extension-based wallet. This conclusion confirmed my view on crypto wallets. Every wallet creator faces a dilemma, namely balancing between security and convenience. Those two factors are in opposition and it is very hard to find a compromise. The majority of wallets struggle with this and finally choose security rather than convenience. That is fully understandable when I think about the philosophy embedded in the blockchain. But I believe that technology is for people, not for the sake of technology itself. We are passing near the valley of death, we need to find a way for mass adoption. We put a higher priority on convenience in MoA. When security and convenience conflicts, we choose convenience most of the time, but please do not get us wrong, we do care about the security, so we have implemented several techniques for protection.
…I believe that technology is for people, not for the sake of technology itself.
Multi Crypto Currency Support
MoA supports easy token exchanges.
Supporting a multi-cryptocurrency wallet is important because it can facilitate the exchange of cryptocurrencies. As the future unfolds, we will begin to store various kinds of value in cryptocurrency such as trust, reputation, time and labor and so on. The value of a cryptocurrency is directly related to the things it can offer, like cash. We can use cash for almost everything, so we value it. Each cryptocurrency will present a specific value. Even if it sounds limited, but people can exchange it freely, the value of the crypto will increase. This is the main reason why MoA aims to support multi cryptocurrencies.
You can freely exchange supported cryptocurrencies in MoA with one click; MoA will take care of the rest of the tedious things. It is the quick and easy way for exchanging crypto.
MoA enables easy integration with existing services so you can use supported cryptocurrencies there — it is not just for cryptocurrency swaps.
Integration with existing services via MoA-Connect
Integration with other systems is a key element of MoA. With an easy UX, people can use a wallet without a headache. With multi-cryptocurrency support, there can be many cryptocurrencies in the wallet. The remaining component is the place where people can actually use a cryptocurrency. I think such integration will play a crucial role in mass adoption.
We thought about the best way to smoothly and easily integrate MoA with existing services and concluded that “Web” is the best vehicle for such an integration. MoA can be integrated regardless of the type of service application. Since MoA is a web-based service. MoA does not require additional installation for integration. Furthermore, we have developed an intuitive library named MoA-Connect for quick integration. We estimate it takes roughly four hours to gain expertise in using MoA-connect. A service provider does not need to change their code for MoA integration. All they need to do is include MoA-Connect and write event handling code. That’s it.
The below screenshot shows the integration of a dApp game via MoA-connect. (MoA-Connect will be available in this year).
MoA-connect allows developers to easily integrate MoA into their projects.
We have released MoA v1.0. Its main features are 1) wallet functions such as balance checking and sending, 2) multi-cryptocurrency support, 3) dApp integration via MoA-connect, and 4) easy tokenization whereas anyone can create a digital asset with a few clicks and use it in MoA.
We will be constantly updating MoA to make it increasingly more valuable.