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In an advertisement titled "Ethereum in Emerging Economies," written by the creator of Burner Wallet, Austin Thomas Griffith, the overall goal of inducing mainstream Ethereum adoption has been emphasized. Judging from this, Griffith argues that this can be done with decentralized apps (DApps) and observes how this recently launched Burner Wallet can make it happen.
The main argument has been that there are many parts of the world that have difficulty when it comes to finding goods and trading through the use of currencies due to inflation. A solution to this problem has been identified as an Ethereum space. In particular, he said:
"What we need is a way to exchange an intuitive currency like the DAI using a simple and ubiquitous platform like the mobile web browser."
He also shared a video describing instant transfers through this process and noted that,
"A mobile phone can send DAI to another in 5 seconds with a simple QR code scan without any wallet downloads, this works on web browsers."
As for the Burner Wallet, he describes it as "analogous to cash", noting that it is faster for the exchange of purposes, but can be problematic when it is brought too much on it. As for the whole process, here are some of its facets disclosed:
- The gunholder runs on the xDai sidechain from POA
- The blocking time is about 5 seconds with a very low cost of gas
- The linking factor between xDai and DAI / ETH is to send tokens to a specified address
Griffith is confident that this method is much more efficient when it comes to dividing costs or transferring funds. That said, one point that was repeated was, "Just do not forget to sweep in the cold and burn the key when you get home!"
The news on the ease of use of Burner Wallet was first disclosed as a Twitter post, which said:
Presentation of 🔥👛 Burner Wallet 👛🔥 for "Ethereum in emerging economies – Mass adoption will start where decentralization is needed" https://t.co/fvuHoZLhCh A phone sends DAI to another in a few seconds without downloading of wallet, seed phrase or gas !! https://t.co/K26u8Bcw94
– 🛠️ Austin Griffith (@austingriffith) November 9, 2018
In reply, @matt_garnett tweeted,
"Are private keys encrypted in the cookie?"
to which the creator simply replied,
"No. These are the burners, do not put a lot of money in them and burn them when you're done." This is simplicity of use. "
Another Twitter user, @surfcoderepeat, asked why he chose POA or XDAI and, as explained in the middle post, Griffith said:
"XDAI is great because you pay gas in DAI and DAI is just a bit more intuitive because you can show USD balances […]"
For more information on Burner Wallet, go to: https://medium.com/@austin_48503/ethereum-in-emerging-economies-b235f8dac2f2
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