Kraken Unveils New Multi-Blockchain Self-Custodial Mobile Wallet

• Kraken released its source code on GitHub to make the Kraken Wallet more secure.
• By limiting the amount of data collected from users, Kraken’s new wallet prioritizes privacy.

The Kraken Wallet is the latest addition to Kraken’s product range. Users are able to manage their digital assets on eight major blockchain networks—Dogecoin, Ethereum, Solana, Optimism, Base, Arbitrum, and Polygon—through this self-custodial mobile wallet. Users will have full control over their digital assets with this wallet, and they won’t have to sacrifice security for ease.

As a multi-purpose tool for dealing with the larger digital asset ecosystem, the Kraken Wallet was built to handle non-fungible tokens (NFTs) and support other decentralized finance (DeFi) operations. Furthermore, Kraken joins other big exchanges in this endeavor that provide similar solutions but vary from them in their commitment to open-source development.

Prioritizing Privacy

Kraken released its source code on GitHub to make the Kraken Wallet more secure. At this point, the code is open for review by developers all across the globe. Their input might make the code even better and, of course, help find and address security flaws. By using an open-source methodology, Kraken enhances the wallet’s security and fosters confidence among crypto enthusiasts.

By limiting the amount of data collected from users, Kraken’s new wallet prioritizes privacy. The wallet conceals users’ IP addresses and doesn’t need any login details, email addresses, or KYC data. As the firm emphasizes the importance of traders’ privacy, Kraken claims that internal app performance metrics are not even gathered.

Despite its robust build, the Kraken Wallet is really a hot wallet due to the fact that iOS’s CryptoKit does not support secp256k1, the elliptic curve. 

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