MyEtherWallet recently launched its official iOS and iPhone 5 versions MEWconnect for Ethereum (ETH) and ERC-20 tokens on Apple store. Renowned as the most popular digital wallet interface MyEtherWallet, users use it to Ethereum tokens. The Android beta version will be available in the next half of this month on Hockey app.
MEW makes direct interaction easier
Kosala Hemachandra, the CEO and founder of MyEtherWallet believes that his team is getting an opportunity to participate in this world-wide crypto-adoption and transition process through this work. Hemachandra said, ?We have been working hard to perfect MEWconnect over the past few months, and are excited to finally provide our global users with this free and easy to use app that has the functionality of a hardware wallet. We believe this app will play a key role in wider cryptocurrency adoption, and we look forward to being a part of this transition.?
Hemachandra further added that this application helps the users to interact directly and easily with MEW through a mobile device. Importantly, during interaction, the users are entirely in control of their funds as well as private keys. Around two months ago MEW relayed on a social message the possibility of cyber attack. The tweet revealed the hacking of Hola VPN extension for five hours. The longtime margin allowed the hackers to interfere with some of the MyEtherWallet users? activity using the extension.
MEW encouraging users to control their bank
The basic approach of MEW is to let the users take control of their bank. It encourages the users to control their own private keys. MEW services have received a lot of appreciation for its decentralized approach. But there is a negative side to it too. The private key system adds to the risk and can lead to mismanagement or fund loss on a user to user basis.
MEW?s approach is such that the clients have to take responsibility for their security. It is because MEW does not work as a web wallet. Rather if a client loses his private key or password then it will not be possible to reverse/ cancel transactions or regain access to the account or even transfer funds. That is why anyone with MEW account needs to be extra cautious and take care of the passwords.