Coinbase, a secure and easy crypto trading exchange platform is the host to their own Toshi app which was released previously. Inspired by socially popular apps like WeChat which are driving a large volume of online payments in countries like China, the team from Coinbase decided to give it a shot and build something that works on open protocols for the rest of the world.
The Toshi app is developed as an amalgamation of various features and the key ones during the initial preview included, a private and secure, messaging app, a user-controlled Ethereum wallet and a browser for Ethereum apps. Being a piece of software that runs on a mobile phone and allows open financial network access, is architectured to be a similar web browser. Funds are always under the user’s control only as Toshi does not host any of the other apps that the user accesses.
The decentralized mobile browser for Ethereum blockchain from Coinbase announced earlier this week that they have decided to expand beyond Ethereum and ERC20/721.
“Toshi will be adding support for more cryptocurrencies. Stay tuned!”
One of the most requested features on the app is for other popular cryptocurrencies to be supported despite the users constantly expressing their liking for the power and simplicity of the user-controlled wallet which allows them to securely store and manage assets. The assets were only available on the Ethereum blockchain – Ether, ERC20 tokens, and ERC721 collectibles and will now see a further extension.
They have come up with a new list of currencies that will be added on to their list very soon which includes Bitcoin [BTC], Bitcoin Cash [BCH], and Litecoin [LTC].
The founder of Litecoin, Charlie Lee, tweeted responding to this news:
“Coinbase’s Toshi app is pretty cool, but I always thought it was missing something… Litecoin! They plan on adding LTC to
However, they have not given out any official release dates yet as they mentioned the same and ensure regular updates as they get closer to launching support. They currently feature 45 DApps including decentralized exchanges, social media, collectibles, job platforms, games, and more.
Asad Ahmed, an LTC trader tweeted:
“All this great news but prices down. Okay time to get more LTC.”
CryptoGuru, a Twitterati says:
“More and more people including Charlie must show actual use of litecoin in daily use.”
LTC Smart, another Twitter user, and Toshi user commented:
“cant wait for that. i already have toshi and yes its awesome.”
Litecoin [LTC] has not been an exception in falling to the ground with a 7.10% dip over the week along with the rest of the market. The current trading price of LTC is $132.84 after a continued fall of almost 4% since yesterday. The market capitalization is worth $7.51 which has placed LTC at the 6th position in the market. The listing on Toshi is sure a boost to the coin along with Bitcoin and Bitcoin Cash, both of which are following the same market trend.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.