Opera, the company behind the popular Opera web browser, today announced integration with DeversiFi, an Ethereum layer-2 exchange powered by Starkware’s scaling solution — providing cheap and instant transactions within its mobile browser wallet.
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 visionary StarkEx scalability engine, which makes transacting via layer-2 instantaneous and 100x cheaper than via Ethereum layer-1. Opera can therefore eliminate costly transaction fees and introduce instant trading for millions of its mobile users.
In 2018, Opera introduced the first browser with a built-in crypto wallet and dApp explorer, later integrating more blockchains including Bitcoin, Celo, and others. Further, Opera has implemented fiat-to-crypto on-ramps in the browser bringing enhanced crypto capabilities to its desktop and iOS browser.
Last month, 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.”
– Jorgen Arnesen, Opera’s EVP Mobile
This integration was made possible through collaboration with Gateway.fm, a blockchain-backend company that led the integration and helped Opera achieve it in record time by building upon DeversiFi’s existing infrastructure, which provides markets and liquidity for its swapping and trading features.
“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.”
– Uri Kolodny, Co-Founder & CEO at StarkWare
A collective term for solutions designed to help scale applications, speed up transaction times, and lower transaction costs, layer-2 makes transactions more user and environment-friendly.
While Ethereum 2.0 will bring these benefits to the entire Ethereum blockchain, current layer-2 Zero-Knowledge solutions are designed to handle transactions off the Ethereum mainnet while taking advantage of the layer-1 settlement and security model.
Zero-Knowledge scaling solutions use cryptography to ensure transactions’ validity and to validate it on the Ethereum mainnet. This allows for faster and cheaper processing and higher scalability and makes the experience of transacting with Ethereum more user-friendly.
To start transacting with layer-2, all users need to do is install the beta version of Opera for Android, go to settings, open the crypto wallet feature and activate the L2 card there.
Users can deposit fiat directly (via Moonpay) or deposit ETH from their layer-1 wallets. From there, they’ll be able to swap and transfer tokens directly in the wallet, powered by DeversiFi. Ethereum layer-2 is available in the beta version Opera browser for Android. As mentioned above, the Opera Crypto Browser Project will also integrate layer-2 solutions in the near future.