Updated on January 9, 2023 12:51 PM
Crypto Web3 Opera Browser will soon incorporate the scalable blockchain Elrond into its cryptocurrency browser, enabling users to access the network through its built-in Opera Wallet.
Since 2018, Opera, one of the first online browsers, has been developing cryptocurrency-related technologies. In January, it made available a beta version of its specialised "Crypto Browser Project."
The Norwegian browser provider enabled support for eight additional blockchains, including Solana and Polygon, in its in-browser cryptocurrency wallet in March.
The third generation of Internet services, known as Web3, which is powered by blockchain, has been the subject of significant bets from Opera and other browsers with a crypto-focused design, such as Brave. Users will find it simpler to interact with various on-chain ecosystems and decentralised finance (DeFi) systems because to the increased Web3 interoperability.
"We are delighted to share the news that Elrond and Opera have partnered, giving all Opera users direct access to the Elrond ecosystem. This will open up access to EGLD, Elrond assets, and applications created on our network for their vast user base, significantly expanding adoption opportunities."
“Elrond’s novel approach to consensus and sharding algorithms allows it to achieve remarkable performance while using the least amount of energy possible and without overly relying on high-end hardware."
"We’re excited to be tapping into Opera’s vast user base to offer them cheaper, faster transactions as well as access to Elrond’s burgeoning dApp ecosystem.” Beniamin Mincu, Elrond Network CEO quoted.
Elrond is the first blockchain where all three parts of sharding — state, network, and transactions — are implemented concurrently, despite the fact that the idea is also being used or added to the roadmap by other networks, including Ethereum 2.0. Sharding methods in particular enable the dispersal of complex computations among various nodes to expedite transactions and boost throughput.
The high level of scalability of the blockchain, which at present reaches a throughput of over 15,000 TPS and a six-second transaction finality time, has also been secured by Elrond developers by making the sharding design adaptive. In addition, by reducing possible attack paths which Proof-of-Work blockchains are often vulnerable to, the SPoS method seeks to boost security.
Opera is a free internet browser that is accessible on computers and mobile devices. In addition to having mobile apps for Android and iOS, the Opera browser is accessible on Windows, macOS, and Linux. A Norwegian telecom company's research study led to the 1995 release of the first version of the Opera web browser. Since then, the browser has undergone numerous changes in response to fresh developments and to stay up with emerging technical advancements.
Elrond, which will debut in July 2020, bills itself as a "internet-scale blockchain" with a strong emphasis on use, accessibility, speedy transactions, and security. This is made possible by cutting-edge adaptive state sharding technology and the Secure-Proof-of-Stake (SPoS) consensus mechanism used by the network.