Brave is known for building privacy-safe browsers that have allowed desktop and mobile app users to earn cryptocurrencies to view ads. But now the company is doubling cryptocurrencies and adding a fully embedded native cryptocurrency wallet to its browsers.
Talked to Brave CEO Brendan Eich TechFirst Video Podcast:
Incorporating a wallet into a browser is not only much more secure than a browser extension wallet like MetaMask, but it also allows Brave to send and receive NFTs, connect and interact with decentralized apps (DApps), and buy cryptocurrencies. Means to natively support cryptocurrency transactions such as sending and sending, more.
The new Brave Wallet allows you to:
- Cryptographic swap or trading capabilities, along with the ability to find the best price available
- Buy crypto in US dollars or other fiat currencies
- Interaction with Ethereum-based DApp
- Sending NFT (Non-Fungible Token)
- Import a wallet from another crypto wallet
Currently, only 13% of Americans own cryptocurrencies, Brave said.
Keeping it simple, native and integrated is important for widespread adoption.
“The crypto boom has pushed blockchain applications to the mainstream, but like the fast-growing innovations, this rapid rise presents challenges. One of the obstacles is that the crypto wallet industry is expanding. It depends, which creates friction in the adoption of DApps and causes users to lose money through fake extension phishing scams, “Brave CTO and co-founder Brian Bondy said in a statement. It is stated in. “Brave wallets do not require extensions and instead are browser-native, preserving the core functionality of popular crypto wallets while removing key performance and security concerns. Brave wallets have 42 million people. We offer more users, non-extended crypto wallets, and anyone who wants a high-performance, secure, full-featured wallet built for today’s crypto users. “
Brave wallet is a self-custodian wallet. In other words, the user has full control over the cryptocurrency.
Listen to my conversation with Eich here:
Keep in mind that self-custodian wallets are more difficult to use and can be more risky than managed wallets. If you lose your private key phrase and you cannot access the cryptocurrency, it will be lost forever.
“I think you can think of self-custody rights like grandpa putting money in a mattress or depositing cash in a key box in his house,” Aihi told me. “It’s self-management. You’re a caretaker. You need to protect yourself from thieves and light-fingered people in the house.”
Brave wallet begins with support for Ethereum and EVM compatible (Ethereum virtual machine) chains. Bitcoin and Solana support will arrive “quickly,” says CEO Aihi.
In 2022, Brave will integrate the Solana chain, making Solana, a high-volume, low-cost alternative to Ethereum, the default for Brave’s distributed apps.
For Eich, embedding the wallet in the browser is essential for security. Other browser-based cryptocurrency wallets are typically built as Chrome’s browser extensions. (Brave is based on the Chromium codebase, where Google Chrome is also built.)
“If you use an extension, you’re at the mercy of Google’s rules for that extension in Chrome and you can’t take over the entire canvas or the user interface. [so] We can’t see if page-up can place trusted user interface elements that can’t be spoofed or spoofed, “says Eich. “People accidentally or tricked into getting fake Metamask extensions and installing them, and they’re putting in valuable ciphers through a key they remember … that extension May steal it. “
Brave offers BAT (Basic Attention Token) encryption to users who choose to watch ads, but the default BAT wallet is different.
“Users can save the BAT redeemed from Brave Rewards to the Brave Wallet after going through the storage process, but otherwise the two features aren’t connected,” Brave says.
It remains to be seen if the new Brave Wallet will be simpler for end users.
As you can hear in an interview with Eich, the crypto space is still very complex, not only limiting who can participate in the space, but also an important space for scammers and scammers to thrive. Provide. If Brave can help open it more, it’s probably a positive that will help others join the crypto party.