TAIPEI, Aug. 11, 2023 /PRNewswire/ — In a significant development in the Web3 landscape, leading hardware wallet brand CoolWallet has announced support for Ethereum’s innovative layer 2 zero-knowledge (ZK) cumulative network, Line. The latest move from the cold wallet pioneer provides Linea ecosystem users with an enhanced cold storage experience and smart contract security when transacting.
The brainchild of ConsenSys, the leading blockchain and web3 software company behind MetaMask, the most widely used Ethereum wallet, Linea uses zero-knowledge proofs and supports the Ethereum Virtual Machine (EVM). This ensures that your applications can seamlessly integrate with the Ethereum blockchain.
While Linea has yet to reveal plans for a native token, its EVM-compliant nature means it employs ETH for transaction fees. In anticipation of a possible future airdrop, Web3 enthusiasts are actively participating in frequent transactions and interactions within the Linea ecosystem. However, this spike in activity has raised security concerns due to the potential for phishing threats that could empty users’ wallets.
Bad actors have siphoned $3.8 billion in 2022 and over $650 million in the first half of 2023 so far, of which 56% can be attributed to smart contract vulnerabilities and 15% to phishing attacks .
Popular phishing methods employed include creating fake DApp or NFT projects or acting as founders or team members of legitimate projects. When users connect their wallets to these fraudulent DApps, their funds are quickly stolen.
CoolWallet strategic partnership with KEKKAI
Linea’s announcement provides CoolWallet with the opportunity to showcase its new Smart Scan feature that is integrated into the Web3 browser of the free to download CoolWallet application. The result of a partnership with Japan-based Web3 analytics and security platform KEKKAI, Smart Scan automatically scans both transaction counterparty (DApp) and details to detect anomalies or irregularities and reduce the risk of fraud and deception.
Potential Launch of Linea
Popular ways to engage with the Linea ecosystem include building bridges, using DApps, and NFT minting.
CoolWallet users can connect their ERC-20 tokens to the Linea chain using the CoolWallet app’s web3 browser and visiting https://bridge.linea.build/. After performing a bridging transaction, users will gain access to the Linea ecosystem.
Users can also interact with DApps, trade tokens on DApps like SyncSwap or XY Finance, or mint their own NFT on platforms like Bilinear.
CoolWallet and KEKKAI streamline Web3 DApp security
CoolWallet and KEKKAI are committed to addressing fraudulent activities by improving the security level of user transactions. The partnership leverages the hardware and software expertise of both companies to provide real-time alerts and protection against potential fraud risks.
CoolWallet App’s SmartScan enhances the security of DApp interactions by automatically scanning smart contract transactions. Scans both the transaction counterparty (DApp) and transaction details to detect any anomalies or irregularities, providing clear visibility of transaction details on the “Transaction Confirmation” page, reducing the risk of fraud and deceit.
About CoolWallet
CoolWallet is a pioneering hardware wallet brand established in 2014 by CoolBitX that offers users the convenience of convenient portable cold storage in the Web3, DeFi and NFT arenas. The company’s flagship product, CoolWallet Pro, is an innovative hardware wallet that features a very slim smart card form factor, EAL6 secure element, military-grade Bluetooth encryption, and a tamper-evident and water-resistant exterior. .
About Line
Linea, developed by ConsenSys, provides out-of-the-box compatibility with the Ethereum Virtual Machine (EVM). This compatibility allows deployment of legacy applications effortlessly. Linea combines the power of zero-knowledge proofs with the full equivalency of EVM, offering developers the opportunity to build scalable decentralized applications (DApps) or migrate existing ones without the burden of altering code or rewriting smart contracts.
Acerca de KEKKAI
Established in 2023, KEKKAI is a Web3 security company dedicated to improving user security in the Web3 world. KEKKAI recently released a Web3 security plugin based on transaction simulation analysis and API service that can simulate NFT transactions and detect fraudulent activity.
For more information, visit www.coolwallet.io, https://linea.build/ and www.kekkai.io.
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