Crypto Wallet News and Updates
Discover the latest features, partnerships, and key trends in the crypto wallet industry. Check out Best Wallet for the information and updates you need.
The crypto wallet industry is constantly evolving, driven by new partnerships, advancing features, and the latest industry trends. At present, there are an estimated 13,217 cryptocurrencies with a total market cap of $1.32 trillion. With so many decentralised currencies with such a high value, new developments are always in the pipeline, especially for the wallets where these digital currencies are stored.
Here’s what’s making headlines in crypto wallet news now.
Crypto Market Surges as U.S. Election Nears & Trump Launches WLFI Token
Bitcoin strengthened in October 2024, partly due to former US President Trump’s climbing presence in the polls, and is performing around 4.4% in the green.
Trump’s recent launch of his own cryptocurrency via the World Liberty Financial crypto project has also positively impacted the price of Bitcoin. The new WLFI cryptocurrency went on sale at 12:40 UTC on October 15, selling approximately 220 million tokens to over 1,700 active wallets within its first 20 minutes of being live.
Trustless MPC Enhances Security
As the digital economy grows, so do fraud, theft, and cybercrime. Trustless multi-party computation (MPC) is increasingly used to address these risks.
MPC shares the process of generating security keys among multiple users, vastly reducing the risk of a single party compromising the security of crypto wallets. Its threshold security adds extra protection, only enabling transactions to be approved if a threshold number of participants sign off on them. Key shares are also stored in a variety of locations. Signing thresholds can be changed as needed to meet evolving operational demands.
While multi-signature wallets have long been the gold standard in crypto security, MPC is now simplifying and enhancing safety procedures. It does this by enabling signing to take place without generating a full private key, heralding a new era in crypto wallet technology.
Jesse Pollak Named Coinbase Executive
On October 1, 2024, Layer 2 blockchain Base creator Jesse Pollak announced that he would join the Coinbase executive team. Pollak has accepted roles as the engineering vice president of Coinbase and the leader of Coinbase Wallet, joining a team of eight executive members.
According to Pollak, Base and Coinbase share similar goals. He believes his new positions will help the firms achieve their key objective: to make it as simple as possible for the world to “come on-chain.”
Check out Best Wallet for more news and to stay up to date with the latest advancements and trends in crypto wallets.
