Plena's Crypto Super App Aims to Revolutionize Asset Management with Advanced Self-Custody
Summary:
Plena, a crypto super app, is set to simplify user interactions with their crypto accounts by combining self-custody with advanced technologies like account abstraction and AI. The mobile app offers an automatic purchase feature and supports over 100,000 cryptocurrencies, allowing users to manage transactions with a single tap and interact with over 150 DApps. It also plans to launch an AI-powered tool for customized investment advice. Having recently joined the Cointelegraph Accelerator program, Plena aims to redefine crypto asset management and make blockchain digital assets accessible to everyone, regardless of their technical proficiency.
In traditional financial systems, assets are managed by centralized institutions such as banks, which allows for risks including fraud, hacking, and insolvency. There has been a significant increase in ransomware attacks on financial services, from 55% in 2022 to 64% in 2023. Moreover, the International Monetary Fund (IMF) forewarns about the growth of financial cyber threats. Despite these risks, centralized custody continues to dominate even in the cryptocurrency space, contradicting the foundational principle of decentralization. A large number of users opt for centralized exchanges, inherently exposing their assets to security risks, as exemplified by the loss of 850,000 Bitcoin by Mt. Gox. The repeated instances of fraud that expose the vulnerabilities of centralized structures emphasize the necessity of self-custodial protocols, allowing users to maintain complete control over their private keys and assets and reducing the risks involved with third-party management. On the flip side, self-custody models assign all responsibility to the user and require specific technical knowledge for managing personal storage wallets. The intricate details of blockchain such as gas fees and native tokens can create obstacles for individuals trying to manage their assets directly. Hence, the crypto industry strives for improved self-custodial alternatives. Rather than providing a single private key to the user, account abstraction merged the account capabilities of smart contracts while retaining the control power of users.
To improve user experience by simplifying interactions with crypto accounts, Plena, a cryptocurrency super app, has integrated all of the features of a self-custodial platform with innovative technologies such as account abstraction and artificial intelligence (AI). Cryptocurrency enthusiasts can manage their assets through Plena's mobile app, which has an automatic purchase feature. It also simplifies the transaction process and enhances security by reducing the dependency on a single private key, providing users with greater flexibility in managing their accounts. A variety of features included in the super app support more than 100,000 cryptocurrencies and allow users to buy, sell, trade, and bridge assets using a single tap on their mobile devices. The app also integrates with over 150 decentralized applications (DApps) via Plena Connect and enables transactions with just one click. Preparing to revolutionize cryptocurrency portfolio management, Plena is set to offer AI-powered tool PlenaGPT that analyzes market trends and offers customized investment suggestions and trend predictions.
Recently, Plena joined the Cointelegraph Accelerator program to broaden its media reach and marketing opportunities. The Accelerator program aids new Web3 startups and projects to prosper through the network and authority of Cointelegraph, a leading media outlet for cryptocurrency and blockchain since 2013. As a participant, Plena aims to offer seamless integration and improved user experiences in the decentralized ecosystem, looking forward to forming new partnerships in the coming year. Marking a significant shift in user empowerment in the crypto industry with its account abstraction technology, Plena is working to redefine asset management by making blockchain digital assets accessible, regardless of users' technical knowledge.
Published At
2/13/2024 1:02:00 PM
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