MyEtherWallet opens confidential interaction with dapps through the extension for Chrome

The Ethereum wallet MyEtherWallet, which allows you to store, send and receive ETH and ERC-20 tokens, has released an updated extension for the Google Chrome browser.

MyEtherWallet said that the updated extension allows users to create a wallet address for withdrawing coins from circulation (burn address) for interaction with decentralized applications (dApps). These addresses do not contain any funds and are not associated with other existing wallet addresses, ensuring confidentiality.

Today, most dApps require users to provide their Ethereum address before they can interact with them, MyEtherWallet notes, adding that using a special address, users can learn dApps without revealing their permanent wallet addresses on which they store ETH.

“The MyEtherWallet Chrome extension is the first of its kind to ensure that its users have full control over which addresses and accounts they share with any decentralized applications, making user privacy a priority,” said MyEtherWallet founder and CEO Kosala Hemachandra ( Kosala Hemachandra).

According to a statement, the updated MyEtherWallet extension for Chrome also blocks known phishing sites to protect users. Hemachandra said that MyEtherWallet had long been offering an extension for Chrome, but the company wanted to finalize it completely to increase security and user convenience.

According to
Chrome Web Store, the current number of users of the MyEtherWallet Chrome extension is 158,203. Meanwhile, MyEtherWallet MetaMask has more than 1 million users of the Chrome extension.

Hemachandra said that the extension can now be used for free, but to monetize it in the future, MyEtherWallet may offer subscription services through partners – similar to its website. Although Hemachandra did not disclose the current earnings of the firm, he said that they are based on partnerships, and the company diversifies its revenue streams by increasing the number and types of services that users can access.

It is noteworthy that MyEtherWallet never raised funds through venture capital firms or crowdfunding platforms, Hemachandra said, adding that the company is open for such options in the future. There are currently 20 employees at MyEtherWallet, most of whom are in Los Angeles, and the company is not currently planning an active expansion.