Crypto Super App with Account Brief Description: Plena has joined the Cointelegraph Accelerator.
In traditional finance, centralized institutions such as banks manage people's assets, leaving them open to risks such as fraud, theft and bankruptcy. Ransomware attacks on financial services increased from 55% in 2022 to 64% in 2023, and the International Monetary Fund (IMF) indicates that financial cyber threats are on the rise. Interestingly, the centralized security model is still prevalent in the crypto space. Although cryptocurrencies are built on decentralized principles, users still actively use centralized exchanges.
At Mt. Gox loss of 850,000 Bitcoin (BTC), as shown by the transfer of assets to centralized systems leads to security vulnerabilities. Fraud cases that highlight the weaknesses of centralized structures highlight the importance of self-protection protocols. Self-maintenance allows users to maintain full control over their private keys and assets, reducing risks associated with third-party management.
However, self-storage models place all responsibility on the user and managing self-storage wallets requires technical expertise. Understanding the intricacies of blockchain, such as gas payments and native tokens, can be challenging for those who directly manage their assets. Also, key crypto figures suggest that self-sustaining models should maximize security against coercion. In other words, the crypto industry needs better self-protection options.
Simplifying interactions with crypto accounts
Plena, a crypto super app, combines an all-in-one self-service platform with advanced technologies such as account abstraction and artificial intelligence (AI) to streamline the user experience. The platform offers a mobile app for crypto holders and traders that includes an automatic purchase feature.
Plena offers users a simplified self-care experience. Source: Plena
Account abstraction is a concept that simplifies how users interact with their accounts on the blockchain. Typically, accounts on the Ethereum blockchain are controlled by smart contracts or users (private keys). Account abstraction blurs this distinction, allowing user accounts to act as smart contracts. The concept simplifies the transaction process, improves security by reducing reliance on a single private key, and provides more flexibility in how accounts are managed.
Plena offers various features in its crypto super app which can be downloaded on Google Play Store and App Store. Super App supports more than 100,000 currencies allowing users to buy, sell, exchange and bridge assets with a single tap. The app also includes Plena Connect, which allows interaction with 150 decentralized applications (DApps). Additionally, Plena offers the convenience of one-click transactions, enhancing the user experience by simplifying complex tasks.
Plena wants to revolutionize crypto portfolio management with its upcoming AI-powered tool PlenaGPT. Once launched, PlenaGPT analyzes market trends and provides personalized investment recommendations and trend forecasts using AI.
Plena joins the Cointelegraph Accelerator
Plena has joined the Cointelegraph Accelerator as a participant to take advantage of the media outreach and marketing opportunities offered by the program. The Cointelegraph Accelerator program helps fresh Web3 startups and projects thrive by leveraging Cointelegraph's network and leadership as a leading crypto and blockchain media outlet since 2013. The program chose Plena because of its focus on AI and its mobile app, which has more than 100,000 hits. Downloads.
Since the inception of Plena Roadmap. Source: Full
The Plena 2024 roadmap includes a new partnership for Plena Connect, which provides seamless integration and simplified user experiences in a decentralized ecosystem. Plena is preparing to open the launch pad in the second quarter of 2024. The platform plans to launch non-EVM chains and Plena Dao in the second half of 2024.
With its signature abstract technology, Plena marks a transition to empowering users in the crypto landscape. Joining forces with the Cointelegraph Accelerator, Plena aims to redefine how users manage their assets. It heralds a future where everyone can access digital assets using blockchain technology, regardless of their technical expertise.
