Opera, the company behind the popular Opera web browser, announces an integration with Ethereum Layer 2 exchange DeversiFi powered by Starkware’s Layer 2 scaling solution — providing cheap and instant transactions within its mobile browser wallet.
The increasing popularity of the decentralised finance (DeFi) sector, and the ongoing Non-Fungible Token (NFT) frenzy, has led to prohibitive transaction fees on the Ethereum mainnet. Integrating a Layer 2 solution through a partnership with DeversiFi makes it easier, faster and cheaper for Opera’s users to send ETH to each other in p2p transactions, with a Layer 2 swapping feature.
DeversiFi is powered by StarkWare’s innovative StarkEx scalability engine, which makes transacting via Layer 2 instantaneous and 100-times cheaper than via Ethereum Layer 1. Opera can therefore eliminate costly transaction fees and introduce instant trading for millions of its mobile users.
This move is a further step in Opera’s strategy to make the use of crypto more mainstream: In 2018, Opera introduced the first browser with a seamless built-in crypto wallet and dApp explorer, later integrating more blockchains including Bitcoin, Celo and others and introducing very easy fiat-to-crypto on-ramps in the browser and bringing crypto capabilities to its desktop and iOS browser.
In January 2022, Opera announced the beta launch of its Crypto Browser Project, a dedicated Web3-browsing experience that will integrate Layer 2 solutions in the near future.
“It’s part of Opera’s DNA to make accessing the web easier. We have been providing extreme data savings, privacy or ad blocking features to our users around the globe. Now it’s time to remove one of the key hurdles associated with the use of web3: exorbitant gas fees and slow network speeds,” said Jorgen Arnesen, Opera’s EVP Mobile.
“Through this integration, the everyday Opera user is able to seamlessly interact with DeFi on a user-friendly interface and experience a completely new way to interact with financial services. Layer 2 technologies are revolutionising the blockchain industry and we are proud to be working with Opera to bring our frictionless, low-cost gas-free trading solution, combined with StarkEx’s scalability benefits, to their millions of users. Integrating our DeFi infrastructure in this way is just the start, and is tipping the scales of mainstream adoption of Layer 2”, said Will Harborne, co-founder and CEO of DeversiFi.