Uniswap Rolls Out a Mobile Crypto Wallet for Android
Uniswap’s Android-compatible Crypto Wallet Launches
Uniswap, one of the biggest decentralized exchanges, launched its mobile cryptocurrency wallet for Android yesterday, a few months after releasing the iOS version of the same. As of this writing, the crypto wallet is in beta. Uniswap is calling on the Decentralized Finance (DEFI) community to test the app and give feedback before it makes it available to more users. Over 30,000 people are already on the waitlist, according to Uniswap’s report.
As part of Uniswap’s Trail of Bits audit, the crypto wallet’s code will be open-source. For beginners, Trail of Bits is among the top cybersecurity firms that provide blockchain auditing services and offer Web3 tools for identifying and fixing vulnerabilities in crypto projects’ smart contracts.
Uniswap’s spokesperson Bridgett Frey says the decision to release the mobile crypto wallet in beta was intended to ensure that all issues are ironed out before the exchange onboards users in large numbers. Frey reveals that the public launch will happen before December 31.
Features of Uniswap’s Mobile Crypto Wallet
The Uniswap team explained various features within the new mobile crypto wallet while launching it on Thursday. Per the team, the wallet will process transactions within seconds, give access to new tokens, and offer transparent pricing to ensure there are no hidden costs on transactions.
Another interesting feature is the wallet’s ability to automatically switch between Ethereum and scaling solutions like Arbitrum or Optimism. The Uniswap team said the wallet will guess the network to which a user wishes to switch and then swap automatically.
Uniswap Promises Safety to Users of Its New Crypto Wallet
Uniswap has put security measures in place to protect users from frontrunning and sandwich attacks. A frontrunning attack happens when attackers identify pending transactions and the prices for which the tokens are to be swapped and then submit their own swaps. Sandwich, on the other hand, occurs when attackers sandwich a user’s swap between two crypto transactions in an attempt to make profits.
To shield users from these attacks, Uniswap’s mobile wallet comes with a “swap protection” feature, which ensures users’ transactions are processed privately so attackers cannot detect them.
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