Users of Shapeshift are transferred to an open-source smartphone app, fostering decentralization.

In order to fully embrace decentralization, Shapeshift, a single parent cryptocurrency exchange and DAO, launched the release of a new open-source smartphone app on Wednesday.

Shapeshift claims that this new change will improve routing, give consumers a more authentic DeFi universe experience, and also give users more flexibility, mobility, and functionality while engaging with the wallets and selling cryptocurrency on the site.

The smartphone app is completely “open source,” according to Willy Orgorzaly, head administrator for the Fox Foundation, and the sole back is “blockchain data,” which is also moving toward being entirely distributed.

Shapeshift has given customers more choices for crypto asset services, such as investing and managing crypto assets, in order to become completely autonomous. Additionally, it has promised that if the company's central technology is entirely worn out, it would irreversibly delete all user data.

Notably, the company became a DAO last year as part of a larger guarantee of its goals to decentralize its management. This news follows that shift.

Shapeshift was established in 2014 as a DAO that later transformed into a crypto network that is community-owned and regulated. The system intends to be a gateway to a global banking system as well as an open-source crypto self-custody system that will help people gain financial independence.

Trying to speak of DAO, with its most recent delegation of 13 million UNI tokens to Uniswap DAO, Binance now is positioned as the second largest votes cast in Uniswap DAO (after mega venture capital firm Andreessen Horowitz 16z), according to Blockchain.News. Binance holds 5.9% voting power compared to a16z's 6.7%.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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