Encrypted wallets are not only part of the cryptocurrency infrastructure, but also a service application. The core functions used by cryptocurrencies (such as creating an account, sending and checking balances) are all done through an encrypted wallet. Therefore, the most fundamental thing about large-scale adoption of cryptocurrencies is to provide an environment in which people can use cryptocurrencies as easily as existing everyday services. Of course, the use of services is the key to large-scale adoption, but in this article, I will focus on the wallet, which is a more fundamental part of the encryption world.
Let us consider the basics of large-scale adoption of cryptocurrencies: 1) support for multiple cryptocurrencies, 2) core functions such as sending, receiving, and checking should be simple, secure, and inexpensive, and 3) people can purchase services using cryptocurrency . For large-scale adoption, these three things are crucial.
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We considered these components when designing and developing MoA to provide the following services:
1) has a simple UX;
2) Support multiple cryptocurrencies;
3) Integration with other systems.
MoA does not require web extensions.
It's no surprise that everyone agrees that a simple user experience is important – but most existing wallets seem to be hard to use. Recently, we conducted a survey to understand the biggest obstacles to using encrypted wallets. The results are not surprising, as we have already expected that it is difficult to install a web-based extension wallet. This conclusion confirms my view of the encrypted wallet. Every wallet creator faces a challenge of striking a balance between security and convenience. These two factors are opposite and it is difficult to find a compromise. Most wallets struggled with this and ultimately chose security rather than convenience. This is perfectly understandable when I think of the philosophy embedded in the blockchain. But I believe that technology is for people, not for technology itself. We are near Death Valley and we need to find a way to adopt it on a large scale. We put the convenience of MoA in the first place. When security and convenience conflict, we usually choose convenience, but please don't misunderstand us, we will attach great importance to security, so we implemented a variety of protection technologies.
"…I believe that technology is for people, not for technology itself."
Support multiple cryptocurrencies
Supporting multiple cryptocurrency wallets is important because it facilitates the exchange of cryptocurrencies. As we grow in the future, we will begin to store various values in cryptocurrencies such as trust, reputation, time and labor. The value of a cryptocurrency is directly related to what it can provide, such as cash. We can use cash for almost everything, so we take it very seriously. Each cryptocurrency will display a specific value. Even if it sounds limited, people can exchange freely and the value of cryptocurrencies will increase. This is the main reason MoA aims to support multiple cryptocurrencies.
You can redeem all the cryptocurrencies supported in MoA for free with one click; MoA will be responsible for the rest of the tedious redemption work. This is a quick and easy way to redeem cryptocurrencies.
MoA makes it easy to integrate with existing services, so you can use supported cryptocurrencies there – not just cryptocurrency swaps.
Integrate with existing services via MoA-Connect
Integration with other systems is a key element of MoA. With the convenient UX, people can easily use the wallet. With multiple cryptocurrency support, many cryptocurrencies can be stored in the wallet. The rest is where people can actually use cryptocurrencies. I think this integration will play a key role in large-scale adoption.
We considered the best way to smoothly and easily integrate MoA with existing services and concluded that "Web" is the best tool for such integration. MoA can be integrated regardless of the type of service application. Because MoA is a web-based service. MoA can be integrated without additional installation. In addition, we have developed an intuitive library called MoA-Connect for rapid integration. We estimate that it takes only about four hours to master the knowledge of using MoA-connect. Service providers do not need to change their code to perform MoA integration. All they need to do is access MoA-Connect and write event handling code.
The screenshot below shows the process of integrating a dApp game with MoA-connect. (MoA-Connect will be launched this year).
MoA-connect makes it easy for developers to integrate MoA into their projects
We have released MoA v1.0. Its main features include 1) wallet features such as balance check and delivery; 2) multi-crypto currency support; 3) dApp integration via MoA-connect; and 4) easy tokenization, with anyone clicking a few times Create a digital asset and use it in MoA. We will continue to update MoA to make it more and more valuable.