Microsoft Piloting Web3 Wallet on Edge March 20, 2023 March 20, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMarch 20, 2023 by Kelly Cromley

Microsoft Piloting Web3 Wallet on Edge

Microsoft is believed to be creating an Ethereum blockchain based Web3 (crypto) wallet for its premier browser that will enable individuals to send and receive Bitcoin and other digital assets and even non-fungible tokens. The wallet is presently undergoing preliminary evaluation and is yet to become accessible by the general public, according to IT media outlet Bleeping Computer.

First uncovered by Microsoft investigator Albacore, who published images of the wallet on Twitter, Microsoft is requesting “testers” to place up their personal assets through its Edge browser.
Microsoft stated in one of its screenshots, “We invite you to try out our initial Web3 wallet and give us constructive criticism along the way.” You have a rare chance to influence our venture into NFTs and cryptocurrencies by serving as the initial evaluators.

The digital wallet is non-custodial, which means that users retain ownership of their assets and the tech behemoth does not have accessibility to the usernames and passwords or recuperation keys. The wallet creates an Ethereum address that users may utilize to get their funds via the Ethereum blockchain network. Additionally, users can administer numerous Ethereum accounts and select between the Edge wallet and a plugin.

As reported by Bleeping Computer, Microsoft is collaborating with Consensys to offer an exchange feature that supports ETH, DAI, UNI, USDC, and USDT. It is unknown whether Microsoft will provide additional digital assets in future updates. Albacore suggests that the wallet could be released shortly. “It turned out to be less complicated than I imagined, which is also why I believe a launch could be imminent,” he stated Blockworks.

As per the screenshots, the beta variant of the wallet contains a news area for monitoring changes in the industry, as well as the capacity to link to decentralized applications.
Simon Kertonegoro, who assisted in establishing a partnership between Microsoft and Enjin dubbed Azure Heroes, told Blockworks that the software giant’s Web3 wallet represents a “shrewd move” intended to “gain an advantage” over competitor Google Chrome.

The founder of MyMetaverse stated, “This would be fantastic for ourselves and other users as well, as we will don’t need to enter the details of our credit cards whenever we make a purchase.”
Although the Edge digital currency wallet is still in evaluation, it could be an important milestone for Microsoft, as it enables users to send and get cryptocurrency without downloading extra plugins or applications. Microsoft terminated its metaverse section in February, barely four years after establishing a team charged with constructing commercial networks. The move represents an evolution from its earlier Web3 efforts.

Jane Ma, co-founder of zkLend, a layer-2 money-market mechanism developed using StarkNet, informed Blockworks that the development of Web3 technologies has prompted an increasing number of Web2 networking firms to investigate methods to incorporate these decentralized options into their services. This development is exemplified by Microsoft’s prototype cryptocurrency wallet for its Edge browser, which seeks to facilitate enrollment procedures for prospective customers, according to Ma. “With more than 200 million users, Microsoft Edge’s strategy of providing a pre-packaged service within its web browser would eliminate technological limitations,” she said.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.