A team of Tezos enthusiasts has developed an email-based non-custodial wallet for Tezos (XTZ), to boost the adoption of the cryptocurrency as well as the Tezos blockchain project.
Clove, a group focused on the mass adoption of blockchain, announced that the new wallet dubbed EmailTezos, is aimed at establishing a fusion between the internet and the Tezos blockchain, to give email owners the needed exposure to the Tezos ecosystem.
“It is the best way to highlight the strengths of Tezos and tailor the features to benefit Tezos users. We believe this level of attention is necessary for the Tezos ecosystem to grow and realize its vision,” Clove stated.
Features of EmailTezos
According to the team, the process of onboarding new users on EmailTezos is easy, as new users would only need an email address and password to get started.
With the email and password, users would be able to send and receive XTZ to other Tezos users whether or not the other party is using EmailTezos. Additionally, users will be able to log in to decentralized apps (Dapps) built on the Tezos blockchain.
Also, Clove noted that EmailTezos already supports tzBTC, one of Tezos FA1.2 assets, an ERC20-like fungible token standard (TZIP-7), with the team saying that support for more FA1.2 and FA2 assets will be added in the future.
EmailTezos would further help users select better baker, a term used on Tezos to identify delegates that process transactions, from a pool of bakers, thus making transaction processing faster.
The new Tezos wallet also allows users to stake their XTZ tokens to earn passive income.
Growing demand for Tezos (XTZ)
Tezos is a multi-purpose blockchain that supports smart contracts and offers a platform to build Dapps. The blockchain uses on-chain governance and it is secured by a delegated Proof-of-Stake protocol, which allows XTZ holders to delegate their staking powers to bakers and earn rewards.
The network’s native cryptocurrency has recorded significant growth over the years. In a recent report popular crypto exchange Coinbase revealed that people are more interested in buying Tezos (XTZ) than Bitcoin and other altcoins.
Last month, Swiss cryptocurrency financial service company, Bitcoin Suisse added support for custodial and staking services for Tezos holders.