Long Hexadecimals public keys giving you a headache? Eth2Phone has a solution to this issue with a new way to send Ether to any phone number involving a smart contract.
Cryptocurrency adoption, more so Ethereum, has a field of issues when it comes to adoption. One such issue is that of long hexadecimal Identifiers used as a public key which is used as you public identifier to send and receive tokens.
Public keys are not memorable in nature, however, Your phone number, on the other hand, is memorable. You not only tend to own/hold a phone number over a long period, even your lifetime but its a Universal ID of communication.
How Eth2Phone Works?
The Eth2Phone Dapp works via Web3 compatible Ethereum wallets, the receivers phone number and smart contract. It solves the public key headache by allowing users to send Ether to anyone through a phone number.
One only needs to Visit the platform’s website and Using a Web3 Compatible wallet (Metamask) you enter the receivers phone number and the ether amount.
You then need to accept the terms by clicking a checkbox before being sent to the status screen. The transaction then has 3 statuses – created, processing and completed.
If you decide to close this page, you can get back to the status page by clicking the ‘i‘ button next to the transfer on the Transfer area. The Transfer area can be found 0on the homepage once you’re logged in with your web3 compatible wallet.
The Areas shows transfer details including the number of transactions, phone number of the receiver, status or action and info button. You can easily cancel a transaction for which assets have been sent but have been received.
The Receiver only needs a special confirmation link in a text message that includes instructions. The Link will allow you use an Existing wallet or Download a new wallet to receive the funds. Supported Mobile wallets include Trust Wallet, Cipher and Toshi for mobile.
Learn more about sending and receiving via their FAQ section.
Here at Eth2Phone, we made it our mission to help people new to crypto. We came up with the solution that would allow blockchain to grow beyond its current user base. We created a product enticing enough to challenge users to learn more about blockchain and keep them motivated throughout the process.
Since phone number is wildly considered a universal ID, owned by almost everyone on the planet and easier to remember than a hexadecimal Ethereum address, it became a foundation for our technology.
– Creators product hunt reply
So is this secure? Eth2Phone assures security via its trustless nature, you would need to make a confirmation on a receiver’s phone if you are planning to steal a shared link.
Eth2Phones smart contract nature also assures that should the verification server become compromised, your tokens are locked in a smart contract. The security even goes a step further by encrypting every phone number in a combination of a hashed transferID and salt(cryptography).
There is no commission as the service is completely free with only mining fee being covered for each transaction.
The Dapp allows for ETH tokens however you cannot send ERC-20 tokens nor fungible tokens such as Cryptokitties. There are plans to enable these token types in the near future which lead to the Dapp being even more useful.
Eth2Phone aims to assist Ethereum adoption via quick onboarding, assist in the acceptance of Ether without a typical Ethereum address and address transaction fluidity by making transactions reversible.
The various component(Code/smart contracts) of the platform can be viewed on GitHub.
The Dapp platform is still in Beta which means there are still likely to be a few bugs. This Dapp allows for the enhanced adoption of Ethereum given the universal ID status of a phone number.
So what do you think about Eth2Phone? will you be using it the send Ethers to your loved ones? Is it a great way to bolster adoption? Leave your valued opinions in the comments below.