Coinbase will distribute ENS usernames to simplify wallet transactions

Users can obtain a username through the Coinbase Wallet browser extension and use it to send and receive crypto tokens at place of the traditional address.

As simplified wallet addresses become more popular in the blockchain space, crypto exchange Coinbase has integrated with Ethereum Name Service (ENS) to give their customers usernames to replace their addresses of traditional Coinbase crypto wallets.

In a message, the exchange announced that it would distribute free usernames "name.cb.id". Through the Coinbase Wallet browser extension, users can claim their new address and use it for their transactions. With this, users can send and receive crypto tokens using the simplified name instead of the usual 42-word alphanumeric address.

The exchange also said in the announcement that it was a necessary step in creating a more open financial system for the world. According to Coinbase, using "human-readable" usernames is a step towards Web3 usability. The company pointed out that simplified usernames help eliminate the anxiety associated with sending tokens and non-fungible tokens (NFTs) using traditional wallet addresses.

In addition to being user-friendly, Coinbase argued that users can benefit from usernames in terms of having a foundation to build their online identity. However, the company also acknowledged that this is only the first step and that there is still a long way to go in terms of "identity-related gaps" that must be closed before Web3 can integrate billion users.

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