MyEtherWallet is presenting a new update. Its in-built burn addresses are the new black.
MyEtherWallet has released an updated MEW CX supporting new features. Web3 support and burn address are now at your service. So is private access to dApps.
Allow us to introduce the new #MEWCX!
— MyEtherWallet.com (@myetherwallet) October 30, 2019
MyEtherWallet keeps making its service more flexible and convenient. And the latest refurbishment gives users easier access to dApps. First, they need to create a burn address. Then they can privately interact with dApps. The main aim of the burn address is to ensure user confidentiality.
As a rule, most decentralized application request Ethereum wallet address. However, you can bypass this requirement with a burn address. Though, it is a single-use wallet. You cannot make any transactions with it. But at the same time, you keep safe all your other permanent wallets with funds.
The founder and CEO of MyEtherWallet says: “MEW Chrome extension is the first to ensure that its users are in total control of which addresses and accounts they share with any Dapps, making user privacy a first priority.”
The MEW team gives step-by-step instructions on how the users can upgrade their current wallets to a new one.
To find out how to use burn wallets, press on this tweet.
When you go to a Dapp page and the extension tries to connect, it will give you a choice of your addresses or a burn address. Please see the bottom of this article: https://t.co/afLB9L0x0a
— MyEtherWallet.com (@myetherwallet) October 31, 2019
How to use MyEtherWallet?
Firstly, it should be noted that MyEtherWallet is not a service that allows you to store funds. Actually, it is an interface that enables direct interaction with the blockchain. All actions performed using this service occur exclusively on the customer’s side.
MEW’s security is probably the most attractive advantage of this wallet. User tokens are not stored in the wallet itself. They are only located in the blockchain system. And the MyEtherWallet service is a tool for managing them.
Currently, MEW supports hundreds of ERC20 tokens while offering a lot of flexibility to its users.
Earlier, Altcoin Buzz reported the first steps of MEW into decentralized finance.