The new wallet service is called Easypaysy. The wallet was launched on December 1st by Spanish developer, José Femenías Cañuelo.
BTC addresses are too complex!
The wallet developer Cañuelo was irritated by the complex nature of Bitcoin addresses. His reason being that they are random strings of numbers and letters that are all but impossible to memorize. Let alone repeat to someone else.
In the official introduction to Easypaysy, they described Bitcoin’s user experience (or UX for short) as terrible.
Stating: “Bitcoin addresses are really not meant for humans. Nobody should be forced to make or receive payments to a crypto-address, much as nobody expects you to navigate the world wide web just by using IP addresses,” the description reads.
The wallet service operates by offering three formats of Bitcoin “accounts” for its users. These cryptocurrency wallet accounts are designed to offer user-friendly identifiers. These identifiers are used instead of traditional addresses when others send cryptocurrency funds. And these can be used within the wallet app instead of actual BTC addresses.
Behind the curtains funds are being transferred to BTC addresses as regular transactions, without users feeling it. Cañuelo continued by promising that no address is used more than once.
The future of easy wallet addresses
Many services over the years have tried to offer similar solutions. These include BitcoinWallet.com back in 2014, along with Ethereum Name Service for Ether (ETH) payments last year.
Despite this many commentators appeared to be taking a liking to Easypaysy’s services. With Jimmy Song, a well-known Bitcoin educator and developer, describing the concept as “interesting”.
Jimmy summarized in a tweet: “I haven’t thought through the downsides, but allows for much easier-to-remember IDs than addresses that we use today. From a UI perspective, big win as it’s easy to remember and print on business cards”,