Opera, the company behind the popular Opera web browser, on Wednesday, announced that it has integrated with DeversiFi, a decentralized exchange (DEX) powered by Starkware’s Layer 2 (L2) scaling solution, to provide cheap and instant transactions within its mobile browser wallet.
The company also announced that Opera for Android (OfA) will become the first mobile browser with an Ethereum Layer 2 Wallet.
With this new non-custodial wallet, millions of Opera users will be able to transact with Ethereum Layer 2 directly allowing them to benefit from efficient, ultra-low transactions and instant trading and making swaps 100 times quicker and more cost-effective.
— DeversiFi ? (@deversifi) February 23, 2022
The new solution “brings low cost and near-instant DeFi functionality to Opera’s millions of users with no personal data required via DeversiFi’s decentralised exchange.” It also makes it easier, faster, and cheaper for Opera’s users to send ETH (Ethereum) to each other in p2p transactions, with a Layer 2 swapping feature.
“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 Uri Kolodny, co-founder & CEO at StarkWare.
The integration was made possible through collaboration with Gateway.fm, a blockchain-backend company, which assisted Opera in building upon DeversiFi’s existing infrastructure in record time.
To start transacting with Layer 2, all users need to do is install the beta version of Opera for Android. To do so, you need to go to Settings, open the crypto wallet feature and activate the L2 card to begin transacting.
Users can deposit fiat directly (via Moonpay) or deposit Eth from their Layer 1 wallets. From there, they will be able to swap and transfer tokens directly in the wallet, powered by DeversiFi.
The “Opera Crypto Browser Project”, which would provide users with direct access to Web 3 services across various networks, will also integrate Layer 2 solutions in the near future.