MyEtherWallet to Use Mobile App for Security

As reported, the company introduced MEW Connect, an iOS app that allows users to access their wallet through MyEtherWallet
24 July 2018   948

Developers of the popular wallet MyEtherWallet presented a mobile application MEW Connect, designed to provide secure access to user account. This is reported by TechCrunch.

The application is currently available in the beta version only for users of the iOS operating system. A full release is planned for September at the same time as the version for Android.

MEW Connect works quite simply - instead of using a private key, the using of which may pose a security risk, the user gets a special QR code. In the future, it is planned to add support for TouchID, but at the moment the function is not available. Note that MyEtherWallet uses Apple services to encrypt the application.

The application requires a master password (preferably reliable) when installing, and also provides a set of words to restore it - a similar system is used by Trezor and Ledger hardware wallets.

MEW Connect
MEW Connect
MEW Connect
MEW Connect
 

That’ll be the best use case for crypto we can implement in the near future. 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.
 

Kosala Hemachandra

Founder, MyEtherWallet

In February of this year, a split occurred in MyEtherWallet, as a result of which Taylor Monahan and several former members of the MEW team switched to developing the competing wallet MyCrypto.

We Need 100k Transactions\Sec, - Buterin

During the conversation with the head of Abra Vitalik noted that the developers are focused on several main issues - scalability, privacy and ease of use
21 March 2019   113

The founder of Ethereum, Vitaly Buterin, expressed the opinion that for the network of the second most capitalized cryptocurrency, it is vital in the long run to achieve a throughput of 100 thousand transactions per second. It is reported by The Daily Hodl.

During the conversation with the head of Abra, Bill Barkhidt, Vitalik noted that the developers are focused on several main issues - scalability, privacy and ease of use.

As far as the big problems, my top three at this point are probably scalability, privacy and usability. So scalability – the Ethereum blockchain right now can process 15 transactions per second. Really, we need 100,000.
 

Vitalik Buterin

Creator, Ethereum 

According to him, in the context of solving the problem of scaling, the Ethereum team has high hopes for sharding.

There are two major kinds of strategies that we’re working on for scalability. One is layer-one scaling and the other is layer-two scaling. Layer-one scaling basically means improving the blockchain protocol itself to process a larger set of transactions. And the main bottleneck with blockchains right now is basically every user has to download the whole blockchain. Which basically means the blockchain can’t hold more transactions than one guy’s computer can store.

And our solution to this, called sharding, basically means that you split up the different transactions to randomly selected, different groups of computers. And this basically means that the blockchain can process way more things than one single computer can hold. And that can increase scalability by maybe a factor of 1,000 or so, but then potentially even more, much later down the road
 

Vitalik Buterin

Creator, Ethereum 

According to Vitalik, Ethereum developers also continue active work on second-level scaling solutions.

So there’s two major classes of systems we’re working on in this regard. One is called state channels. And there’s a bunch of teams working on this. There’s a team called L4 in Toronto that’s done some really good work. And another project is Plasma. And there’s a lot of work that’s been done on that. OmiseGo is this decentralized exchange that’s building on plasma. There’s TheMatter. There’s more and more of these projects. And then, there’s one of our researchers, Karl Floersch, who has been working on implementation of a reasonably complete Plasma prime specification, which is the latest version of Plasma – which has some really cool features in terms of increasing scalability and reducing the amount of data you have to store.
 

Vitalik Buterin

Creator, Ethereum 

Discussing the problem of scaling, Buterin mentioned Bitcoin. According to him, developers should achieve a significant increase bandwidth of Ethereum network. Otherwise, the second cryptocurrency capitalization will not be actively involved in everyday transactions and a significant market share will remain behind BTC.

If Bitcoin wishes to just be a store of value, then realistically it’s probably fine, though I think they should switch to proof-of-stake. If they want to actually be a currency that people use for transactions, then I do think base-layer scaling, and also speeding up the blockchain and reducing block times at the base layer, is also something which is very important.
 

Vitalik Buterin

Creator, Ethereum 

On the last day of winter hardfork Constantinople hardfork took place on the Ethereum network.