Due to integration with Ethereum Layer 2 exchange DeversiFi driven by Starkware’s Layer 2 scaling technology, Opera’s mobile browser wallet can now conduct real-time deals at lower costs than previously possible. As per a news release issued Wednesday, Starkware’s StarkEx scaling engine enables Layer 2 transactions “real time and 100 times cost – effective” than trades through Ethereum Layer 1. (Feb. 23).
Opera’s action is continuation of the company’s aim to promote bitcoin usage. In 2018, Opera unveiled the world’s initial browser with an inbuilt cryptocurrency wallet and decentralized application navigator. More blockchains, notably Bitcoin, Celo, and many others, have been integrated, and these capabilities have been extended to pcs and iOS browsers.
“It is ingrained in Opera’s DNA to make online access simpler. We’ve been giving our consumers throughout the world with extraordinary data conservation, privacy, and ad-blocking capabilities for years. Now is the moment to eliminate one of the primary impediments to web3 adoption: expensive petrol prices and sluggish network speeds,” stated Jorgen Arnesen, Opera’s EVP Mobile.
As per the media release, as decentralized finance (DeFi) and the non-fungible token (NFT) markets keep expanding in notoriety, trading fees on the Ethereum mainnet have increased. By incorporating a Layer 2 solution with DeversiFi, Opera users will be able to transmit ETH to one another in peer-to-peer transactions via a Layer 2 swapping functionality.
Last month, Opera launched the beta version of its Crypto Browser Project, an “exclusive Web3-browsing solution” that would eventually include Layer 2 solutions. “With this connection, the average Opera user can engage smoothly with DeFi via a simple interface and enjoy an entirely different way to connect with financial products,” stated Will Harborne, co-founder and CEO of DeversiFi.
“Layer 2 technologies are reshaping the blockchain sector, and we are excited to collaborate with Opera to deliver our seamless, cheaper, no-gas, trading platform, along with the scaling advantages of StarkEx, to their users worldwide.”Embedding our DeFi framework in this manner is only the beginning, and it is tilting the weights toward widespread Layer 2 adoption,” Harborne stated.
