Coinbase is acquiring Cipher browser app in order to improve on the Toshi project, which is its own browser app for Ethereum. The app lets users to browser financial apps and communicates with each other.
Coinbase announced on Friday that it has acquired mobile Ethereum Cipher browser. Further, the company will merge many of its features with those of Toshi, a mobile browser launched by Coinbase developers.
Thus the new move will help improve Toshi project. The open-source browser for Ethereum network provides access to financial services and is already available for Android and iOS. In other words, it allows users to browse third-party financial applications powered by Ethereum. In addition to allowing people to make payments and chat with other users.
It is built like a web browser and does not host any of the apps browsed. Therefore, it uses a variety of protocol including Whisper Systems’ for an end-to-end encrypted chat, Ethereum protocol and SOFA protocol for third-party apps. It will also be incorporating uPort identity protocol to help store user profiles.
Cipher said in a tweet that one of the first features to integrate into Toshi after a merger is the testnets.
Acquire best teams
Coinbase‘s vice president for communications Rachel Horwitz said Coinbase is “always looking to acquire the best teams and technologies in the crypto spaces.”
Peter Kim is also the new head of engineering at Toshi following the new changes. Coinbase also hired LinkedIn executive Emilie Choi as the new vice president. And her role is to oversee mergers and acquisitions.