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| Developer(s) | Code Inc. |
|---|---|
| Initial release | April 1, 2023 |
| Operating system | iOS (Android in development) |
| Type | Cryptocurrency wallet |
Code Wallet is a cryptocurrency wallet application developed by Code Inc., a company started by the team behind the Kik messaging app. The wallet is designed to facilitate cryptocurrency transactions using the KIN token, originally launched on the Ethereum blockchain and later moved to Solana. The wallet's key feature is its ability to instantly send cryptocurrency from one wallet to another by scanning a user’s QR code, a concept described by the team as “digital paper cash.”[1]
Background edit
Code Wallet was introduced by Ted Livingston, the former CEO of Kik and the founder of KIN. The wallet was developed in the context of Kik's previous ventures into cryptocurrency and the regulatory challenges faced by the KIN token. The application aims to simplify cryptocurrency transactions, positioning itself as an accessible option for users unfamiliar with crypto. Livingston has described the wallet as an "iPhone moment" for the crypto industry.[1]
Features edit
The core functionality of Code Wallet includes:
- Instant crypto transfers by scanning QR codes.
- A layer 2 network built on top of Solana for transaction reliability and privacy, ensuring continuity even during blockchain outages.
- A focus on immediate and final transactions, akin to physical cash exchanges.[1]
Adoption and Challenges edit
The success of Code Wallet largely depends on the adoption of KIN as a viable payment method. Despite its innovative features, the volatility of KIN, like many cryptocurrencies, poses a challenge for widespread adoption. Livingston has indicated the possibility of incorporating stablecoins into Code Wallet to address this issue.[2]
Release edit
Code Wallet was initially launched for iOS devices, with an Android version under development.[3]
References edit
- ^ a b c "Code Wallet Aims for Fresh Start on Solana After Messy Tale of Kik and KIN". CoinDesk. 2023-04-10. Retrieved 2023-12-02.
- ^ "Code Wallet and the Volatility of KIN". CoinDesk. 2023-04-10. Retrieved 2023-12-02.
- ^ "History of KIN and the Launch of Code Wallet". CoinDesk. 2023-04-10. Retrieved 2023-12-02.
Category:Cryptocurrency wallets Category:Software using the Solana blockchain