One of the most popular wallets for Ethereum and Ethereum-based tokens, MyEtherWallet, is releasing a mobile version allowing a secure connection. The popular wallet is still the most-used for airdrops and ICOs, and mobile access may increase the adoption of crypto coins.
Until now, MEW was a relatively difficult wallet to use, requiring a computer for a secure login. This web-based wallet has also been the most common victim of phishing attacks through fake links and altered URLs.
The MEW Connect app is based on iOS and launched on a closed beta version. The mobile login allows for a secure connection to MyEtherWallet without using the private key.
The full launch of the mobile app unlocking securely MyEtherWallet is expected in September. In the meantime, around 600,000 select users will test the app.
The unlocking of the wallet happens through scanning a QR code, which allows for peer-to-peer connections for sending funds, according to testers from TechCrunch magazine. The wallet uses Apple’s encryption standards to achieve security, hence the lack of a need to use a passphrase, private key, or a keystone file, as with using MEW on a computer.
The phone-based app also issues a master password and a 12-word passphrase to recover access to the app account in case the phone is lost. This is yet another layer of encryption on top of MEW. The same wallet may be used on a computer and unlocked in other ways.
App reviewers note that the design also suggests upcoming features such as a form of peer-to-peer payments. But payments may not be immediately available, said MyEtherWallet founder Kosala Hemachandra for TechCrunch.
“That’ll be the best use case for crypto we can implement in the near future,” he said in an interview. “If you want to go mainstream, that’ll be a huge advantage for the whole industry. First, we want people to get used to this MEW Connect concept, scanning a QR code and creating a P2P link.”
For now, the app will finance its staff and development by participating in affiliate programs for buying crypto assets from third parties.
The wallet may become one of the central apps in the crypto asset community, but for now, it is at an early stage and beta users may report bugs and problems.