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Business & Finance

Opera’s Journey Towards Cryptocurreny: Anti-Cryptojacking, Crypto Converter and Now Wallet

According to a press release on 11th of July 2018, Opera is launching an Android web browser that will include a built-in cryptocurrency wallet. This news is immensely welcomed in the crypto world as users will now avoid the hassle of opening new tabs or browsers for cryptocurrency transactions as soon they can easily send or receive cryptocurrency from a toggle on their Android mobile browsers.

For the cryptocurrency and blockchain experts, the news was always on the cards as in January 2018, Opera made their intentions very clear about stepping in to the Crypto world as they added anti-cryptojacking software for their mobile and web browsers. Cryptojacking is a process when a user’s hand held device or computer is being used remotely to mine cryptocurrency without even user’s consent or knowledge. This can make the affected device extremely slow and drain battery very quickly. Opera’s anti-cryptojacking software is a huge success, specially when a situation arose in the September of 2017, when The Pirate Bay admitted that it was using the processing power of its users devices to mine Monero. Opera’s advancements in cryptocurrecy can be seen evolving as in March 2018, the company updated its browser’s currency converter with the addition of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

According to the statement released by Opera, the-easy-to use crypto wallet will support Ethereum Web3 API. The company is inviting users to use this utility as the browser is currently in private beta phase.

Commenting on the announcement, Opera Cypto product manager, Charles Hamel said;

We think that with a built-in crypto wallet, the browser has the potential to renew and extend its important role as a tool to access information, make transactions online and manage users’ online identity in a way that gives them more control.

Opera’s mobile wallet is going to be a stepping stone for all the browsers to open up for Web 3.0, vision of a decentralized internet. For the developers of decentralized web applications (dapps) this news was a relief as the users would be able to easily interact with application built on ethereum blockchain.

Talking about the future Charles Hamel said;

The past 18 months have brought tremendous activity and new ideas around cryptocurrencies, tokens, decentralized apps and how they all play a role in the vision for Web 3.0.

Opera has 4.55% share of use for mobile browsers whereas it has 3.5% usage share for all browsers. This will make Opera the very first browser among the mainstream browsers to be equipped with embedded cryptocurrency wallet.

Cryptocurrency wallets are not new as they are there ever since and a lot of services do provide crypto wallets but it is for the first time that a browser will have an integrated wallet within itself. The Norwegian company Opera released a short video that gave the audience an insight about how easy and feasible it’ll be for the users to use the wallet.

The Opera wallet will not require any extensions nor any additional apps would be required to get access to the wallet. Integration with Ethereum Web3 API means that the wallet will be able to support tokens and collectibles in an extremely secure protocol and easy to use and access. Through wallet, users will be able to make cruptocurrency transactions, do shopping and get the ultimate experience of Web 3.0.

To make wallet extremely user-friendly, Opera made sure that the user experience remain as smooth as possible. To access their wallet, the user will not enter any PIN numbers or wallet specific passwords. The wallet will be accessed through device’s unlock screen code or fingerprint in that case. With the option for importing an existing wallet to creating a new one combined with a seamless integration with digital currency exchange coinbase, the wallet is surely very handy for the users to make quick payments with just a single tap on the QR-code!

Opera also reiterated that the company will bring more cryptocurrencies under its fold in the near future. Talking about why they chose Ethereum over other cryptocurrencies, the company stated that it’s because they are fascinated how the developers from all across the world have embraced Ethereum platform to build their apps.

Opera is currently testing and rolling out their browser wallet in private beta and very soon it’ll be accessible to its users.

Hassaan Malik

Co-founder of BlockPublisher, Hassaan is a technologist at heart with a keen interest in blockchain, cryptos and traditional financial markets. Email: hassaan@blockpublisher.com, hassaanmalek@gmail.com

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