A novel wallet operating on the Optimism network is leading a new era in cryptocurrency accessibility.
Beam, the new crypto wallet launched on the Optimism network, enables users to generate a crypto address without a seed phrase and conveniently employs a Twitter login for account saving.
With its user-friendly interface, Beam aims to simplify the complex world of digital currency transactions.
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This innovative web-based application, announced on July 27th, requires no downloads and enables transactions on the Optimism network without owning Ether (ETH).
To get started with Beam, users need to visit the app's website, where they are assigned a unique QR code linked to an Optimism address. The QR code then becomes a handy tool for receiving cryptocurrency, as it can either be presented to a sender or copied and shared through email or instant messaging applications.
It is worth noting that Beam is compatible with both desktop and mobile devices.
Eco App and Beam's CEO, Andy Bromberg, shared that Beam employs Web3Auth, a novel wallet technology that facilitates the creation of seedless wallets.
Bromberg highlighted that a user's password is a backup shard for Web3Auth, and no hash is ever stored on a centralized server. Thus, neither Twitter nor Eco can make any unauthorized transfers.
Bromberg also revealed that Beam will be launched on Coinbase's Base network when it officially rolls out in August. In an exciting development, user balances on Base and Optimism will be linked to the Beam app, creating a more streamlined user experience.
Dubbing Beam a "Superchain" wallet, Bromberg suggests that it can operate flawlessly across the OP Stack ecosystem. He sees Beam as a significant step toward eliminating common user frustrations with crypto wallets, thereby facilitating wider adoption:
We’ve abstracted away chains, addresses, fees — all of it — to make it so that normal people can use it. I’ve been in crypto for 10 years now, and this is the first noncustodial product that my parents have ever been able to use, and I have tried many times before, and this did it. So we’re excited about it.
Beam's integration with Twitter marks a significant milestone in making cryptocurrency transactions more user-friendly and accessible.
