Web3 browser Opera has integrated with Ethereum Layer 2 exchange DeversiFi, a decentralized exchange (DEX) powered by Starkware’s Layer 2 scaling solution, to provide lower-cost, real-time transactions within Opera’s mobile browser wallet.
Starkware’s StarkEx scalability engine makes Layer 2 transactions “instantaneous and 100-times cheaper” than transacting over Ethereum Layer 1, according to a press release on Wednesday (Feb. 23).
The move by Opera is part of the company’s strategy to bring cryptocurrency use into the mainstream. Opera launched the first browser with an integrated crypto wallet and dApp explorer in 2018. Additional blockchains were added, including Bitcoin, Celo and others, and those capabilities were brought to desktops and iOS browsers.
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“It’s part of Opera’s DNA to make accessing the web easier. We have been providing extreme data savings, privacy or ad-blocking features to our users around the globe. Now it’s time to remove one of the key hurdles associated with the use of web3: exorbitant gas fees and slow network speeds,” said Jorgen Arnesen, Opera’s EVP Mobile.
As decentralized finance (DeFi) continues to grow in popularity along with the non-fungible token (NFT) market, transaction fees on the Ethereum mainnet have escalated, according to the press release. By integrating a Layer 2 solution with DeversiFi, Opera users can find it “easier, faster and cheaper to send ETH to each other in p2p transactions, with a Layer 2 swapping feature.”
Opera in January introduced its Crypto Browser Project in beta, a “dedicated Web3-browsing experience” that will soon integrate Layer 2 solutions.
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“Through this integration, the everyday Opera user is able to seamlessly interact with DeFi on a user-friendly interface and experience a completely new way to interact with financial services,” said Will Harborne, co-founder and CEO of DeversiFi.
“Layer 2 technologies are revolutionizing the blockchain industry, and we are proud to be working with Opera to bring our frictionless, low-cost gas-free trading solution, combined with StarkEx’s scalability benefits, to their millions of users. Integrating our DeFi infrastructure in this way is just the start, and is tipping the scales of mainstream adoption of Layer 2,” Harborne said.
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