This will provide more opportunities for more accessible ways for Web3 and decentralized finance. Cryptocurrency music app Audius and Solana marketplace Magic Eden are among the most popular dApps in the Solana ecosystem. However, only the browser’s desktop version offers support for dApps integration. Brave says it will enable support for the mobile version of the app in the future.
Solana Capable Of Competing With Ethereum
The collaboration with Solana was initially announced by Brave in November last year. By January this year, Brave had already crossed more than 50 million active users. The web browser was founded by Chief Executive Officer of Mozilla, Brendan Eich. The browser had only existed for five years before surpassing the 50 million active user milestone. The main source of revenue for the browser is through adverts. It gives users rewards for watching sponsored ads. The browser cashed out its first ad revenue in 2019.
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Eich, while commenting on the development, stated that the Solana integration means that Brave’s browser will benefit from much lower fees. Solana has been touted as having the capability to take a chunk of Ethereum’s market share and become an investment giant like Visa. It is already growing in popularity and is a more affordable option for several users.
On the other hand, Brave’s Basic Attention Token, which underpins the browser’s ecosystem, is sitting at number 67 when it comes to crypto assets with high highest market capitalization. It has already lost 2% of its value within the past 24 hours.
The Integration Will Make Web3 And DeFi More Accessible
The latest integration of Solana into Brave’s wallet will make Web3 and DeFi more accessible through low fees, fast transaction speeds, and an increasing ecosystem of decentralized applications (DApps).
The aim is more than just to hold and transact with crypto, but is to create a user-friendly environment for an easy-to-use Web3 on any device.
This new integration expands Brave Wallet’s Solana support, which already includes the ability to receive, store, purchase, and send tokens.