In a noteworthy move for the burgeoning cryptocurrency sector, Opera announced support for an inbuilt Ethereum wallet for its users on July 11, 2018.
Opera’s Cryptocurrency Push
As reported by The Next Web, the wallet is developed to provide users with an easy-to-access interface with additional support for Ethereum’s “Web3” Application Programming Interface (API). While the feature remains in private beta mode, reports suggest the company is swiftly inviting users to test the update.
Psst! Opera for Android now has a built-in crypto wallet. 👛You can easily transact with crypto and discover Web 3.0 right in your browser. Learn more: https://t.co/nVnp3s1tMA pic.twitter.com/DYGHTvGDiR
— Opera (@opera) July 11, 2018
With this development, cryptocurrency users can pay for services and goods directly via the browser, eliminating the need to access online wallets or other third-party wallet services.
In addition, the service will now support third-party decentralized applications (dApps), meaning developers can now build interactive platforms for users which bridge the internet, cryptocurrencies, and blockchain.
The new product is termed “Opera Crypto,” and test users can access it by clicking the “O” icon on the updated browser. Charles Hamel, the product lead on Opera Crypto, stated:
“Paying with the Crypto Wallet is like sending digital cash straight from your phone, and we’ve just made it easier. Our hope is that this will accelerate the transition of cryptocurrencies from speculation and investment to being used for actual payments and transactions in our users’ daily lives.”
As per reports, the company aims to “lower the entry barrier to Web 3.0 for users,” and equip the populace “venturing into the world of dApps and cryptocurrencies.”
Opera is seemingly embracing cryptocurrencies swiftly. In January 2018, the company introduced a firewall against unauthorized cryptocurrency miner as part of their “Opera 50” browser update. The mining-blocker functioned as soon as a user switched on “block ads” feature.
Cryptocurrency Startups Can’t Curb Crime
For cryptocurrency enthusiasts, the launch indicates a move away from online cryptocurrency wallets and browser extensions, which have proven their lack of security on several instances.
Even the famous MyEtherWallet (MEW), an inbuilt browser wallet, faced the wrath of hackers in April 2018. Attackers infiltrated the internet’s Border Gateway Protocol (BGP) and Domain Name Service (DNS) to exploit a vulnerability in the popular Ethereum wallet causing several users to complain of lost funds after manually ignoring a security warning. The hackers successfully stole $150,000 in ETH while requiring only a ten-second window to breach a victim’s computer.
In a more recent misdoing, MEW was compromised yet again on July 10, 2018, after Chrome’s Hola extension was reportedly taken over by Russian hackers to steal ETH funds from a user running both the extensions.
Companies like Opera maintain strict security protocols and can omit fears of security or fund loss for people interested in buying digital assets for the first time.
For more information, see the video below:
Cover Photo by Marco Bonomo on Unsplash