Opera Introduces Mobile Browser for Android With a Built-In Crypto Wallet and Support for Ethereum (ETH) Decentralized Apps (DApps)

Siamak Masnavi

On Wednesday (11 July 2018), Opera Software announced that it was introducing the world's first browser with a built-in crypto wallet and support for Ethereum "Web 3.0" (i.e. Ethereum Decentralized Apps).

The latest version of the Opera browser for Android, which is currently undergoing a private best test, offers a "user-controlled crypto wallet" (meaning that the private key for the wallet is stored on the user's phone and nowhere else) that "relies on Android’s secure system lock to sign transactions" so that users don’t have to remember any new PIN codes or passwords.

Opera says that one advantage of integrating a crypto wallet into a full-featured browser is that its wallet, unlike existing DApp browsers/extensions, which "unfortunately expose uniquely identifiable wallet information to all sites visited" (thereby "raising risks of tracking or phishing attacks"), asks "a user’s permission for each site requesting wallet information before exposing it, similar to how existing web permissions work (geolocation, camera or file system access, for example)." To help users discover DApps, Opera has also integrated a "DApp Explorer".

Also, Opera says that as well as support all ERC20 tokens, which are automatically added to your wallet’s home screen, it is currently supporting CryptoKitties, and it will be adding support for other ERC721 Collectibles in future releases.

If you have an Android phone and you'd like to start trying out this new version of Opera, you need to visit https://www.opera.com/crypto and use a gmail address to request an invite. Once you have installed the app, you need to tap on the red O logo in the bottom right of the screen and select "Crypto Wallet" to get started. You will then be able to choose to either create a new wallet or to import an existing one using a standard 12-word backup phrase. 

According to a report by Gizmodo (UK), product manager Charles Hamel had this to say about the launch:

"Having a Crypto Wallet in the browser brings the cash experience to the world of online payments... Paying with the Crypto Wallet is like sending digital cash straight from your phone, and we’ve just made it easier. This opens up new possibilities for merchants and content creators alike... We believe the web of today will be the interface to the decentralized web of tomorrow... By becoming the first major browser to open up to Web 3.0, we would like to contribute to making the internet of the future more accessible. 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."

 

Featured Image Credit: Interface Image Courtesy of Opera

Ethereum Was Behind 85% of Dapps' $12 Billion Volume in Q2 2020

The total transaction volumes of decentralized applications (dapps) in the cryptocurrency space hit $12 billion in the second quarter of this year, rising by $4.5 billion compared to the first quarter. Etheruem dapps accounted for 85% of the volume.

According to DappRadar’s Industry Review report, there are more than 70,000 active wallets across 13 different blockchains interacting with the cryptocurrency space. The top blockchains were EOS, TRON, and Ethereum, with the latter representing $10.2 billion of the $12 billion volume seen in Q2.

Ethereum’s large transaction volume was partly fuelled by Compound and the launch of the COMP token, which led to a “yield farming” trend, in which users were interacting with the protocol as much as possible to receive COMP tokens. Compound saw $1.2 billion move through it.

The yield farming trend saw Ethereum gas prices and transaction fees increase, which according to the report did not stop Ethereum dapps from thriving in general. It did, however, contribute to an 80% drop quarter-on-quarter for ETH gaming dapps, as high gas prices are “killing” their activities on the cryptocurrency’s network.

Despite Ethereum’s growth, EOS and TRON (TRX) dapps have also seen their activity increase in the second quarter of the year. According to the report in only three months, TRON’s transaction volumes on decentralized applications surged by over 17,200%.

The rise was largely attributed to Oikos.cash, a TRON-based version of the Compound lending protocol.  While TRON’s DeFi growth has been notably, DappRadar pointed out that most dapps on its blockchain are still in the “gambling” and “high risk” categories.

The EOS blockchain has still been enduring the effects of the EIDOS token airdrop, which put the network into “congestion mode.” The airdrop clogged the network and as a result, from 2019 to 2020 wallet activity on decentralized applications dropped 53%.

So far this year, $1.9 billion have been transacted on decentralized applications using the EOS blockchain, thanks to two dapps: Crypto Dynasty and Upland. DappRadar’s report also shows that two other blockchains are growing thanks to gambling dapps: WAX and ThunderCore.

Featured image via Pixabay.