Market

Opera is about to endorse Solana and aims for the dominance of web browsers

Opera Browser offers Solana support. The users have a wallet and are fully compatible with dApps (decentralized applications).

This partnership is made against the background that Brave and Opera Browser want to dominate the Web 3 browser.

In an official blog post on Friday December 10th, Opera announced a partnership with Solana Labs to support this popular blockchain. Accordingly, the browser will run a native Solana wallet along with all dApps in the ecosystem.

Solana shakes hands with Opera

Team opera said The integration is expected to take effect in the first quarter of 2022. Users can then enjoy all the advantages of the blockchain directly on desktop and mobile browsers without restrictions.

Still, it’s no surprise that Opera is interested in Solana. Since at least 2018, the browser has implemented a targeted outreach plan geared towards supporting cryptocurrency, blockchain technology, and Web 3.

Hence, this news does not seem to excite the market very much. Opera stock closed at $ 7.24 on Friday, down -4.36%, albeit a modest $ 6.96 gain at the start of the week.

Stock price chart OPRA | Source: Tradingview

The price of SOL also did not react and continued its downtrend, which began in early November right after ATH. Solana’s token closed the day at $ 166.97, down 7.86%. At the time of writing, the price is up to $ 170.43 but is still nearly 35% below ATH and nearly 20% on the weekly chart.

Graphic gSOL 4 hours | Source: Tradingview

Opera and Brave: Battle for the Web3

As is known, Web 1 enables users to consume content provided by a website and Web 2 enables users to interact through a centralized platform. Meanwhile, Web 3 does not have a centralized unit that controls the interactions and communication made possible by technologies such as blockchain with data transfer in the network without sources of error.

Some development examples that focus on Web 3 are Sapien, UjoMusic, Storj, Filecoin, Hive and Minds.

Despite the controversy, Brave has been the king of crypto browsers for some time. The browser even has its own blockchain and the BAT token serves as the foundation for the entire ecosystem, facilitating the business of advertising and promoting content, rewarding users for viewing ads, and enabling the community to reward high quality content creators .

Opera takes a more down-to-earth approach, however. You are not developing cryptocurrency and you do not want to create a new experience. Instead, the browser is directed to Web3, which no one else has. In addition to Solana, Opera has a native crypto wallet, dApp support, and other features geared towards the introduction of blockchain.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.