Web 3.0 is growing at a rapid speed and many companies are joining the movement. Recently, Opera, one of the most popular web 2.0 browsers, has released a web 3.0 beta browser with much more to come.
This is not Opera’s first move in decentralized finance, also known as DeFi, as the company developed the world’s first browser-based crypto wallet back in July 2018. The beta version of the web 3.0 browser is available for Windows, Mac and Android platforms.
What does Opera bring to Web 3.0?
According to the team’s announcement, the beta version will allow users to follow the latest blockchain news, participate in the upcoming airdrops, follow a dedicated web 3.0 events calendar, visit a non-fungible token (NFT) gallery, join blockchain communities, access to educational content, live cryptocurrency prices and gas fees.
Opera Crypto browser also has a browser-based non-custodial wallet that supports Ethereum, ERC-20, ERC-721 tokens. The team noted that they will add support for the ERC-1155 tokens in the first quarter of 2022. Users can “purchase crypto through a fiat-to-crypto on-ramp, swap your crypto directly in your wallet, send and receive, as well as allow you to check your wallet balance and gas fees.”
The team added, “In setting up the Crypto Browser Project, we are pursuing an inclusive, multichain strategy and embracing as many dApp [decentralized app] and domain name partnerships as possible with the aim of making the use of crypto and Web3 seamless for our users.”
Opera already has some big partners in the industry such as Polygon, Solana, Nervos, Celo, Unstoppable Domains, Handshake and ENS. Moreover, Polygon’s partnership will be officially announced in Q1 2022.
Last but by no means least
The environment is one of the most important issues to consider when thinking of blockchain technology. Unlike web 2.0, the next generation web is still much slower with a higher energy consumption rate. Ethereum Layer 2 solutions are the key to success, as they “reduce blockchain’s impact by roughly 95%.”
Opera is transitioning from proof-of-work (POW) to proof-of-stake (POS), which means that instead of mining, it will use staking to verify new transactions, making it more eco-friendly.
Opera noted, “We are working towards implementing Layer 2 in our browser as quickly as possible, having already announced a partnership with Polygon and with further exciting Layer 2 partnerships to be announced in the near future.”
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