Coinbase Wallet Now Supports Solana Ecosystem

Coinbase, a US-listed cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term, announced on Thursday that it has added support for Solana on an initial phase. That said, users can now handle their Solana (SOL), and Solana tokens (SPL) alongside their tokens held on all of Wallet extension’s supported networks.

“Today’s update makes it easier to keep track of all your crypto across an ever-growing range of supported networks, without the need to manage multiple wallet apps. However, this launch is just the beginning — Coinbase Wallet plans to further integrate with the Solana ecosystem, including the ability for users to connect to Solana dapps, and the ability to view and manage their Solana NFTs directly within their Coinbase Wallet extension,” Coinbase noted in a statement published via its website.

Coinbase Wallet’s extension has support for other networks like Ethereum, Avalanche, Polygon, BNB Chain, among others. With the new support of Solana, the US-listed firm aims to unlock more of Web3 ‘without needing to manage multiple wallets.’

Solana Blockchain in Figures

It has been reported that over the past year, the blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Solana has been growing the fastest, with a total locked value of over $7.35B and over 1,400 projects launched covering DeFi, NFTs and Web3.

Until now, those interested in exploring the Solana ecosystem or holding SOL and SPL tokens had to create yet another crypto wallet, manage an additional app or browser extension, and keep track of their assets across multiple platforms. From now on, users of the Coinbase Wallet extension can store, send and receive SOL and all of its SPL tokens.

“We want to empower millions of people to seamlessly participate in the exciting world of dapps and the larger crypto ecosystem. With its low fees and fast transaction times, Solana makes the world of crypto accessible to even more people and is a great introduction to web3,” Adam Zadikoff, the Senior Product Manager at Coinbase, pointed out.