Burner Wallet Illustrates how Frictionless Crypto Transactions can be
In the cryptocurrency world, convenience often trumps everything else. While Bitcoin Lightning Network has tremendous potential, seemingly similar solutions already exist today. Burner Wallet is a very peculiar example, as it allows users to transfer funds via any web browser on any device. A convenient solution which has a ton of future potential.
Burner Wallet Does the Job as Advertised
Sending money around the world through cryptocurrencies remains a very big problem. It is anything but convenient to both novice and veteran users. As such, without this ease of use, it seems unlikely cryptocurrencies will play a bigger role of importance moving forward. At least not until new solutions come to market which can address this glaring problem.
Bitcoin’s Lightning Network is such a potential solution. It is an additional layer compatible with the Bitcoin network to successfully make moving BTC around the globe frictionless. Sadly, this technology is anything but frictionless right now, primarily because it requires a fair bit of know-how to even use it. Some wallets have addressed this problem, yet it is still not the solution most consumers will feel comfortable with.
Another interesting solution to look into goes by name of Burner Wallet. While it has nothing to do with Bitcoin whatsoever, the underlying concept certainly seems appealing enough. More specifically, it is compatible with any regular browser, which can effectively boost the overall adoption of this technology moving forward.
Under the hood, Burner Wallet focuses on letting users transfer xDai through a web browser in a frictionless manner. Users can even sweep their balance to cold storage when they get home, which is pretty interesting to take note of. This entire solution is built on the xDai sidechain, and it also depicts an ETH balance for users to experiment with. While it may not necessarily lead to broader adoption right away, tools like these can prove to be invaluable in the long run.
Core functionality provided this wallet includes being able to scan QR codes without a wallet download. Additionally, there is a linking system which can be used to complete transactions in a non-complicated manner. As the gas costs for all transactions are paid for in DAI, they are also significantly lower compared to Ethereum or other cryptocurrencies. Even people who want to accept one-time payments or prefer some form of privacy will see the benefit of this solution.
Solutions like these are what may drive mass cryptocurrency and token adoption in the future. While this is a niche-esque product as of right now, that situation can easily change at any given moment. From a convenience point of view, Burner Wallet certainly has a leg up over virtually any other solution on the market. Such a solution for Bitcoin would certainly be interesting to behold, as that may be what this industry needs right now.
by JP Buntinx via The Merkle Hash
