Cryptocurrency

The Importance of non-custodial solutions & the Nexo Wallet roadmap – SlateCast #47

Hull Invest

Elitsa Taskova, Head of Product at Nexo Wallet, recently sat down with SlateCast podcast host Akiba to discuss their new non-custodial wallet. The timing of the release is especially interesting given the recent issues with exchanges and the increasing focus on non-custodial solutions.

Nexo itself has recently been embroiled in a shootout as one of its Bulgarian offices was raided by authorities. In response, Nexo co-founder Antoni Trenchev vehemently denied the allegations against the company.

According to Taskova, developing the wallet took months and involved a lot of uncertainty and decision making. The team decided to focus on creating a Smart-Her Wallet that utilizes Smart-Her Contracts. We also decided to make the wallet unmanaged because we believe users should have full access to their keys.

According to Taskova, one of the key differentiators of Nexo Wallet is the combination of smart and non-custodial wallets. The smart contract functionality of the wallet allows for greater flexibility and the creation of new and innovative solutions on top of blockchain technology. The non-custodial aspect of the wallet is also essential as it allows users to have full control over their keys and coins.

Regarding user experience, Taskova emphasized the importance of removing barriers and making the wallet usage process as simple as possible. Nexo Wallet has a “Learning” section that provides users with educational materials and information on various aspects of the wallet and blockchain technology. This allows users to learn and understand more about technology as they use it, instead of being overwhelmed with information at first.

Taskova also explained the wallet roadmap, saying the team is adding features like Wallet Connect, which will allow users to interact with sites and sign in using wallets. They also plan to further develop the wallet’s earning capabilities, such as generating deficits and enabling markets for NFTs.

From a business perspective, Taskova believes the timing of the Nexo Wallet release demonstrates the company’s understanding of the importance of a non-custody solution. Due to recent issues surrounding exchanges and their ability to securely store user funds, the launch of no-custody wallets will give users complete control over their keys and coins. The wallet’s smart contract functionality also allows for greater flexibility and the creation of new and innovative solutions on top of blockchain technology.

Overall, Nexo Wallet seems like a solid choice for those looking for a non-custodial wallet solution. A user-friendly interface and education-focused wallet make it easy for users to understand and use the technology. Additionally, it is encouraging that the team is focused on further developing the wallet’s earning capabilities by adding more features such as Wallet Connect. This demonstrates our dedication to improving the user experience.

In conclusion, Nexo Wallet could be an excellent choice for those looking for a non-custodial wallet solution. Its smart contract functionality and user-friendly interface make it easy for users to understand and use the technology. The team’s focus on adding more features and developing the wallet’s earning capabilities is also encouraging, and the timing of the release reflects recent issues with exchanges and interest in non-custodial solutions. Especially interesting given the height.

CryptoSlate does not endorse any products mentioned in this article or supporting podcasts. Exercise extreme caution when working with web3 products.

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