MyCrypto Ethereum Wallet Shares New Feature: Scheduled ETH Transactions
Ethereum-Backed, MyCrypto Releases New Feature: Scheduled ETH Transactions
A recent post shared by CCN revealed the news that MyCrypto has integrated an ETH alarm clock-like feature, which allows investors to schedule their transactions.
In case you missed the LiveStream with @MyCrypto about the release of the "Send Later" option and why you should use it to schedule transactions on #Ethereum…check out this recording: https://t.co/pzHHZCujay pic.twitter.com/bGANVqwArs
— ChronoLogic (@ChronoLogicETH) September 17, 2018
MyCrypto is proclaimed as a free, open-source, client-side interface that allows investors to directly interact with blockchain while ensuring that they are in control of their keys and funds.
Also dubbed as an ERC20-supporting wallet, which was created by the co-founder of MyEthereumWallet (MEW), MyCrypto has been described as a service in which different wallets can be connected.
For instance, users can choose to access their accounts through hardware wallets (i.e. Ledger, TREZOR and Safe-T mini), browsers/extensions (i.e. Web3), non-custodial wallets (i.e. Metamask) or mobile apps (i.e. Parity Signer).
Getting back to the notion of scheduled transactions, the team involved trusts it to be a suitable feature, as it can allow one to participate in an Initial Coin Offering (ICO) beforehand. The same can be said about activities that involve sending transactions ahead of time, making payments or simply reminding oneself of future endeavors.
The addition of this timely feature is a result from Ethereum Alarm Clock’s partnership with ChronoLogic, a project that aims to create debt and innovative time-based smart contracts. The accomplished efforts supposedly reflect the need to resolve core problems faced by the Ethereum blockchain.
Co-Founder of Ethereum, Vitalik Buterin seems to be for “alarm clock” features, as he was quoted by CCN calling it “very valuable”. Similarly, the CEO of MyCrypto, Taylor Monahan sees this as opening endless doors of opportunities.
The team behind this feature has also revealed that there are no risks tied to it (such as failed or wrongly timed transactions), as the auditing process has been taken care of for the Ethereum Alarm Clock’s code. In particular, the entire feature has been secured by EDCCs, which are also referred to as smart contracts.