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Linen
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== Competition == === Our wallet design allows us to onboard millions at scale and with low cost === There are two types of players: * Hosted wallets where users do not have access to their private keys, cannot participate in DeFi, and cannot acquire the long tail of assets or access third-party decentralized applications (Dapps). * Self-custody platforms (wallets) optimized for a tech-savvy audience. [[File:C8e3ee90c396f02575a68bb52b9065a3cbabbfeb.png]] By far, the biggest wallets today are custodial wallets and services such as Coinbase Consumer and BlockFi. The primary use case for custodial wallets is to buy and sell a limited number of crypto assets in U.S. dollars. These players are beneficial to DeFi and the broader ownership economy as they provide a cost-effective way to acquire stablecoins and Ether with U.S. dollars. Subsequently, these stablecoins are transferred to self-custody wallets and used in DeFi. There are also self-custody wallets that use a seed phrase (special password) for backup and recovery; but such wallets are harder to use for the average person because the passwords cannot be recovered if lost or forgotten. These wallets are usually used by early adopters and the tech-savvy. Notable players are MetaMask, TrustWallet, BRD, and Blockchain. Linen uses a different wallet design and technology that makes it very user-friendly and lowers barriers to enter DeFi and other crypto services.
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