Opera – a web browser supporting Web3 – announced integrating Starkware-powered DeversiFi in collaboration with a blockchain-backend company Gateway.fm. Thus, it has enabled its users to transact with Ethereum Layer 2 directly.
The latest move is part of Opera’s plans to offer cost and time-efficient transactions within its mobile browser wallet as well as its strategy to make cryptocurrency usage more mainstream.
According to the official press release, the integration will enable low-cost and faster DeFi functionality to the web browser’s millions of users. DeversiFi’s decentralized exchange eliminates the need for user personal data.
Opera said that the growing frenzy surrounding the DeFi sector, as well as non-fungible tokens (NFTs), has triggered prohibitive transaction fees on the Ethereum mainnet. Partnering with DeversiFi and integrating a layer 2 solution will help the Opera users to send ETH to each other in peer-to-peer (P2P) transactions, with a layer 2 swapping feature.
The end goal is to remove a major hurdle associated with the use of Web3 – exorbitant gas fees and slow network speeds.
“Through this integration, the Opera users are able to seamlessly interact with DeFi on a user-friendly interface and experience a completely new way to interact with financial services at low costs, which are particularly relevant for those users who today are being priced out of the market due to high transaction costs on Ethereum.”
Opera’s Tryst With Crypto and Web3
In 2018, Opera unveiled the first browser with a built-in crypto wallet and decentralized application (DApp) explorer. This was followed by other blockchain integrations, including Bitcoin, Celo, etc. It also introduced fiat-to-crypto on-ramps in the browser.
In January this year, the Norwegian multinational technology company announced the beta launch of its Crypto Browser Project for its Windows, Mac, and Android users.
The project aims to accelerate the evolution of Web3 by giving users access to the latest blockchain news, upcoming airdrops, events calendar, NFTs, crypto communities, etc. It also helps users keep track of crypto prices gas fees, in addition to the general market sentiment.
As part of its greater DApp expansion, Opera partnered with Polygon in December to allow users to transact in the latter’s native token, MATIC.
The move allowed Opera users to tap into various platforms such as Sushiswap, Aave, Balancer, in addition to blockchain-based NFT games and marketplaces such as Decentraland, Opensea, Sandbox. It announced a similar partnership with Solana wherein it enabled users to access Solana DApps.