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Opera Announces Integration with Ethereum Layer 2 Exchange DeversiFi

UTC by Ibukun Ogundare · 3 min read
Opera Announces Integration with Ethereum Layer 2 Exchange DeversiFi
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The co-founder and CEO of DeversiFi said the Opera users would be able to interact easily with DeFi. In his words, Layer 2 technologies “are revolutionizing the blockchain industry.”

Web 3 browser Opera has announced its integration with Ethereum Layer 2 exchange DeversiFi. This comes as several companies worldwide take steps in bringing crypto use into the mainstream. With the collaboration between Opera and DeversiFi, the Web 3 browser will offer a layer 2 Ethereum wallet to its customers. Notably, DeversiFi is backed by Starkware’s Layer 2 scaling solution, which has a scalability engine. The scalability enables instant and 100X cheaper transactions on Layer 2 than Ethereum Layer 1. 

According to Opera, Opera for Android will be the first mobile browser that has a Layer 2 Ethereum wallet. As the DeFi sector and the NFT space grow in popularity, there is now a spike in transaction fees on the Ethereum mainnet. However, Opera users will find it easier, faster, and cheaper to send ETH in peer-to-peer transactions through the partnership with DeversiFi.  Also, Opera will get rid of excessive transaction fees and provide instant trading services for its mobile users. 

Opera Aims to Expand Crypto Adoption with Partnership with DeversiFi

Opera has consistently tried to expand the use of cryptocurrencies. The company initially introduced its first browser with a built-in crypto wallet and dApp explorer in 2018. Later, more blockchains like Bitcoin and Celo came on board, bringing more crypto capabilities to its browser on desktop and iOS. Fast forward to January 2022, Opera revealed the beta launch of the Crypto Browser Project. The company said the project would connect with Layer 2 solutions in the 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 speed.”

In addition, the co-founder and CEO of DeversiFi, Will Harborne, also commented on the integration with Opera. He said the Opera users would be able to interact easily with DeFi. In his words, Layer 2 technologies “are revolutionizing the blockchain industry.”

He also added that the integration is a way to mainstream adoption of Layer 2. 

“Opera’s integration of the StarkEx solution is a gamechanger. It will lower the barrier of entry costs and allow tens of millions of Opera users to participate in the exciting world of Ethereum DeFi at a fraction of the price. These users today are being priced out of the market due to high transaction costs on Ethereum,” said the co-founder and CEO of StarkWare, Uri Kolodny.

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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