What is Coinbase WaaS?
Coinbase WaaS (Wallet as a Service) is an open source, non-custodial wallet solution developed by Coinbase. It enables users to store and manage their digital assets securely in the cloud, with access from any device. With Coinbase WaaS, developers can easily build applications that enable secure storage of cryptocurrencies without having to create or maintain their own infrastructure. This makes it easy for companies to launch products quickly while keeping user data safe and secure.
How Does Coinbase Waas Work?
Coinbase Waas leverages blockchain technology and cryptographic protocols like Ethereum’s ERC20 standard to ensure security when storing digital assets on its platform. Users are provided with private keys which provide them full control over their funds stored on the platform without relying on third party services or custodianship solutions such as banks or other financial institutions. Additionally, they benefit from two factor authentication measures that protect against unauthorized access attempts and malicious actors trying to gain access into your accounts. For added convenience, all transactions made through this service are automatically tracked via audit logs allowing users complete transparency of activity happening within their wallets at any time..
What Are The Benefits Of Using Coinbase Waas?
Using this service provides numerous benefits such as: improved security due to no reliance on 3rd parties; cost savings because there’s no need for expensive hardware setup; increased scalability due to automatic scaling capabilities; speed thanks to faster transaction processing times; enhanced privacy since personal information isn’t shared outside of the wallet itself; global accessibility allowing you use your account anywhere in world even if you don’t have internet connection available locally etc…
