Oslo, Norway and Sibiu, Romania — Opera Crypto Browser, the world’s first Web3-focused browser with native support for decentralized applications (dApps) and a non-custodial wallet, is announcing plans to expand its already robust suite of networks by integrating the Elrond (EGLD) blockchain, a highly scalable, fast and secure blockchain platform for distributed apps, and enterprise use cases.
Following the implementation planned for the end of 2022, users will be able to send and receive Elrond’s native token, EGLD, via the built-in Opera crypto wallet — allowing them to tap into a blockchain capable of processing 15,000 transactions per second (TPS). Users will also gain access to Elrond-based dApps, such as global and automated trading platform Maiar Exchange alongside a plethora of P2E games, including Cantina Royale, Knights of Cathena and Age of Zalmoxis, without requiring any third-party browser extensions or wallet applications.
“The seamless integration of Elrond further expands the wide array of crypto-centric services available to Opera Crypto Browser users,” said Susie Batt, Crypto Ecosystem Lead at Opera. “Such interoperability is becoming increasingly important for any project aiming to embrace Web3, and we are excited to have another blockchain partner join us on our mission to accelerate the evolution of the internet.”
Launched in July 2020, Elrond positions itself as an “internet-scale blockchain” focused on accessibility, high transaction speeds, security, and user experience. This is achieved thanks to innovative adaptive state sharding technology and the network’s Secure-Proof-of-Stake (SPoS) consensus algorithm.
In particular, sharding algorithms allow the distribution of complex computations between different nodes to speed up transactions and increase throughput. While the concept is also being used or added to the roadmap by other networks, including Ethereum 2.0, Elrond is the first blockchain where all three aspects of sharding — state, network, and transactions — are implemented simultaneously.
Further, by making the sharding architecture adaptable, Elrond developers have ensured the blockchain’s high level of scalability, which currently achieves a throughput of over 15,000 TPS and a six-second transaction finality time. At the same time, the SPoS mechanism aims to provide increased security by mitigating potential attack vectors that Proof-of-Work blockchains are usually susceptible to.
“Elrond’s novel approach to consensus and sharding algorithms allows it to achieve remarkable performance while using the least amount of energy possible and without overly relying on high-end hardware,” explained Beniamin Mincu, Elrond Network CEO. “We’re excited to be tapping into Opera’s vast userbase to offer them cheaper, faster transactions as well as access to Elrond’s burgeoning dapp ecosystem.”
Adding Elrond to Opera Crypto Browser is yet another step to making Web3 more inclusive and friendly for people who use the platform. Since the project’s launch in 2018, Opera has also integrated multiple decentralized networks, including Ethereum, Bitcoin, BNB Chain, Polygon, and announced partnerships with Pancakeswap, 1inch, NEAR, Solana and others.
Opera is a global web innovator with an engaged and growing base of hundreds of millions of monthly active users who seek a better internet experience. Building on over 25 years of innovation that started with browser products, Opera is now leveraging its brand and highly engaged user base in order to expand its business into new segments. Today, Opera offers users around the world a range of products and services that include PC and mobile browsers, the newsreader Opera News, and apps dedicated to gaming, crypto, e-commerce and classifieds. In 2018, Opera introduced the first browser with a built-in crypto wallet and web3 support and has continued to pursue blockchain initiatives through its wholly owned subsidiary Blueboard. Opera is headquartered in Oslo, Norway and listed on the NASDAQ stock exchange (OPRA). In January 2022, Opera released the first version of its Crypto Browser Project, a dedicated web browser tweaked to crypto-enthusiasts and the crypto-curious.
Elrond is building internet-scale blockchain infrastructure for Web3 payments, DeFi and the new Metaverse economy. Its groundbreaking technology features two key innovations to bring a 1,000-fold cumulative improvement in throughput and execution speed: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.