Co-Founder of MyEtherWallet Breaks from Project, Forks Software to Create My Crypto

mycrypto split
Popular Article
DAOs EcoSapiens
ReFi landscape
DAOs EcoSapiens

Regenerative Finance 101: A Guide to Crypto’s ReFi Movement

A Fork in the Road

Taylor Monahan, the co-founder of MyEtherWallet (MEW), has left her baby to begin work on a new venture.  The nascent project, dubbed MyCrypto, is similar to the original, so much so that it’s actually a software fork of the MyEtherWallet code.

Monahan details the developments in an impassioned Medium post, wherein she hashes over MEW’s origins, its meteoric rise, and her newly-announced departure.

“2017 saw the end of the side-project,” she admits, priming the introduction of her new project. “2018 will ensure we have a solid foundation for the product, the company, and the team. It is this solid foundation that ensures our long-term stability and success, in 2018 and beyond.”

To foster this growth going forward, Monahan looks towards a “New Beginning” to establish a sturdy foundation for the future of her product.  And this new beginning comes in the form of MyCrypto, an Ethereum-powered wallet that functions like MyEtherWallet, but “is designed with next-level scaling in mind from the beginning,” according to its creator.

Monahan didn’t go into detail as to why she chose to split the wallet. After admitting she “was terrified — [is] terrified — at the potential harm this change will have on myself, the team, and/or the Ethereum community,” though, she claims that “the risks created by continuing down the road we were on are greater than the risks of splitting to a new brand, new company, new name, and new domain.”

What this Means For MEW Users

Kosala Hemachandra, MyEtherWallet’s co-founder, still has access to MEW’s Github, the wallet’s website domain, and its social media accounts, Monahan assures her readers.  As such, if you use MyEtherWallet, not to worry–your funds are safe and it’s not going away.  In the future, users will now simply have the choice to use either MyCrypto or MyEtherWallet.

In her post, Monahan indicates that MyCrypto will begin its beta testing in a few weeks.  For the time being, it will continue to function on the forked code of the current version of MyEtherWallet until the team members “are confident in the stability & usability of the new codebase.”

During the transition, the MyCrypto team will continue to answer any questions they receive regarding MEW.  However, the new project will sport the following new social media accounts:

MyCrypto created a new Twitter handle after causing some confusion by merely updating MyEtherWallet’s own Twitter account late last night.  We realize that this likely left many users nonplussed, but there’s no reason to fret.  The service was not hacked, the fork has no ramifications for account balances, and both wallets are running smoothly as of today.

MyCrypto has not responded to CoinCentral for comment at this time.


Legal Disclaimer

CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner.