Opera Limited (NASDAQ:OPRA), the company behind the namesake internet browser, has launched the beta version of its new “Crypto Browser Project” with built-in, Web 3.0-focused features.
What Happened: Opera said it is providing a dedicated Web 3.0 browser designed to work with decentralized apps (dApps) and also provide deeper functionality than a traditional browser that has a basic web wallet add-on.
The browser has a built-in non-custodial cryptocurrency wallet that would enable a user to access his cryptocurrency holdings or sign into dApps directly from the browser, without installing extensions.
The Opera wallet is exclusively compatible with Ethereum (CRYPTO: ETH) in beta, but compatibility with Polygon and Solana will be extended in the near future. It will be released as open source soon, as per the company.
See Also: How To Buy Ethereum (ETH)
Why It Matters: Opera originally launched the first web browser with an integrated cryptocurrency wallet and basic Web 3.0 support in 2018, but the latest announcement marks the launch of a dedicated Web 3.0 browser.
Web 3.0 is supposed to be a decentralized version of the internet that would challenge the dominance of tech giants such as Microsoft Corp. (NASDAQ:MSFT), Alphabet Inc.’s Google (NASDAQ:GOOG) (NASDAQ:GOOGL) and Amazon.com Inc. (NASDAQ:AMZN).
Nevertheless, Tesla Inc. (NASADQ:TSLA) CEO Elon Musk and Twitter Inc. (NYSE:TWTR) co-founder Jack Dorsey — big supporters of Dogecoin and Bitcoin respectively — have criticized Web 3.0 technologies.
Price Action: Opera shares closed more than 14% lower in Tuesday’s trading at $5.75.
Ethereum is down 2.2% during the past 24 hours, trading at $3,077.43 at press time.
