On August 31, it was revealed that Giddy, a unique self-custody crypto smart wallet that enables simple retail access to DeFi earning possibilities, is extending its sophisticated private key technology with instant support for Ethereum Mainnet. 

Following its first introduction on the Polygon network, Giddy is now supporting a second chain. According to the most recent information that Giddy supplied with Finbold, it will soon be followed by additional EVM-compatible networks such as Arbitrum, Base, Binance Smart Chain, and others. Additionally, with this announcement, the formal beginning of work on native Bitcoin support in the wallet has begun.

Ethereum Mainnet support includes in-app purchases made with fiat currency converted to cryptocurrency, token swaps sends, and the ability to shop directly with thousands of the most well-known businesses from more than 150 countries.

Notably, this is an enormous milestone for Giddy as it expands the wallet’s functionality and accessibility across a variety of blockchain networks, resulting in a more consistent and enjoyable user experience regardless of the network.

Giddy wallet user details

The user does not need to write down or keep a seed phrase while using the Giddy wallet because of its hi-tech private key technology. This is the most important feature of the Giddy wallet. 

Giddy’s private key solution, on the other hand, divides the private key into numerous pieces that are owned by the user and maintained by the user. These components include a password that the user creates, a hardware device such as their phone, and a social login such as Gmail or Apple ID. Each of these parts is handled independently by the user. 

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When taken separately, the components are worthless, which considerably lowers the possibility of compromise. In addition, even if the consumer loses a single component, they may still get their funds back. Even yet, the user retains the ability to export their private key if they so want.

Eric Parker, CEO and Co-Founder of Giddy, stated: 

“Giddy’s private key management solution is a game changer among crypto wallets. It simplifies the user experience while enhancing security. By eliminating the need for a seed phrase and breaking down the private key into multiple factors owned by the user, we are empowering users to have more control and security over their funds.”

All in all, this enhancement of the wallet’s capabilities to include Ethereum Mainnet and other EVM-compatible chains is a significant step toward accomplishing Giddy’s objectives.

The post Giddy smart wallet launches multichain starting on Ethereum Mainnet appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.