An altcoin used for a privacy-focused internet browser could receive a shot in the arm from a recent bullish signal, according to crypto insights firm Santiment. Santiment says that Basic Attention Token (BAT), which is used as a rewards-based cryptocurrency for the Brave Browser, could rally on the back of recent social media buzz. Santiment […]
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Web3 security’s not only about money; it’s about the culture and values that the community protects, which brings out the need for education, points out Cointelegraph’s Kristina Cornèr.
Celebrating the myriads of accomplishments earned by the crypto ecosystem, Immunefi, Electric Capital, Bitscale Capital and MA Family together hosted The Bug House — a party for bringing together the global Web3 community.
In a panel hosted by Cointelegraph, editor-in-chief Kristina Lucrezia Cornèr sat with Mitchell Amador, founder and CEO at Immunefi, and Brendan Eich, founder and CEO of Brave browser, to discuss the evolution of Web3 and its future trajectory.
“There’s a lot of Web2 in Web3. That’s a problem right now,” began Eich when asked about the ongoing Web2 to Web3 transition. From using trusted servers to sub-custody wallets, Amador believed that such Web2 sites could be full of adversaries. He also pointed out the recent EIP-5593 proposal, which aims to prevent man-in-the-middle attacks.
In Web2, there is a common practice of implementing security features post-launch through patches and antiviruses, which can be inherited by Web3 apps using such services. In addition, security concerns in Web3 stem from the centralization through decentralized application (DApp) sites.
Speaking about the security concerns in Web3, Amador stated that hackers in Web3 are very different from Web2 hackers. According to him, there are two types of hackers. In Web3, hackers are found to be young, typically under the age of 35 and most under the age of 30.
In relation to the second type of hacker, Amador highlighted the influx of older tech-savvy individuals — “which many blockchain hackers lack” — that have spent a few years understanding Web3 and are able to break into the systems. He added:
“We’ve seen a number of these guys, including several of the top 10 hackers now; they just storm the leaderboard with their skills. They just need to get good enough.”
Supporting this stance, Eich added that, during the bull run era of 2021, he noticed the rise of reentrancy attacks. Brave has been using HackerOne to protect its in-house crypto wallets and has tripled its bug bounty to eradicate the wallet’s security concerns.
Eich further highlighted that Brave has total control over the browser and crypto wallets, which helps them fend off phishing attacks on the users. Brave has amassed a wide demography of users that prefer privacy, crypto or both, currently serving 20 million daily users, which, when compared to last year, has doubled.
When it comes to protecting the Web3 community, Amador believes it boils down to ethos:
“To wish for, fight for, and create a better world for which their most sinister and capricious behaviors simply won’t work and won’t be allowed. If we do that successfully, we will draw these expert security talents, their best executives, their best leaders over to our side and neuter them by destroying the base of their ability to work.”
Cornèr agreed with the duo as she stated that in Web3 security, it’s not only about money; it’s about the culture and values that the community protects, which brings out the need for education.
While Amador further revealed the efforts of Immunefi, Brave and other partners to work with the governments trying to make Web3 more accessible, adding:
“We’re in a position where we need to heavily lobby and ask for the support and graces of various other power players precisely because what we’ve built today is not good enough, not valuable enough and not safe enough.”
Eich, on the other hand, highlighted the need to develop better programming languages and tools to safeguard the systems. He called for a need to segregate the world of ethos from the world of bad programming. “Education sounds prim and proper. But if it doesn't have incentives, it's not gonna work,” he concluded.
As a bug bounty platform, Immunefi created trust and legitimacy in the industry by solving the problem related to projects not willing to pay up bug bounties after successful bug discovery. They did this by providing an impartial, third-party service that can mediate that interaction and make sure both sides come to the task.
Related: Solana unveils Google partnership, smartphones, Web3 store at Breakpoint
Immunefi recently released a Whitehat Leaderboard for listing the top 20 most elite white hats in Web3.
“As the volume of saved funds continues to grow, the leaderboard is another opportunity to give our white hats the recognition they deserve, as well as to encourage them to keep pushing the boundaries to make the web3 ecosystem safer,” Amador noted in a statement.
Under the Crypto Browser project initiative, Opera's multi-chain compatibility aims to ease the introduction of Web3 to more than 380 million mobile and desktop users worldwide.
Opera, one of the major crypto-friendly internet browsers, announced the integration of eight blockchains in a continued effort to introduce Web3 to more than 380 million mobile and desktop users worldwide.
In Jan. 2022, Opera launched the Crypto Browser project, a Web3-focused initiative for facilitating navigation across decentralized applications (DApp), games and metaverse platforms. As part of this initiative, the browser company added support for eight major blockchain ecosystems, including Bitcoin (BTC), Solana (SOL), Polygon (MATIC), StarkEx, Ronin, Celo, Nervos DAO and IXO.
Opera said in the announcement that its users now have access to the Polygon and Solana DApp ecosystems, as well as "the benefits of Layer 2 DeFi via StarkWare-powered DiversiFi."
The latest integrations enable Opera users to access Polygon proof-of-stake (POS) blockchain and Ethereum L2 ecosystem via StarkEx.
According to the company, the intention behind integrating multiple blockchains was to ensure chain agnosticism and Web3 involvement in an environment-friendly manner. Jorgen Arnesen, EVP Mobile at Opera stated:
“Ultimately, Web3 is on its way to becoming a mainstream web technology and users won’t need to know they’re interacting with it. They need to get a superior user experience and a true benefit.”
The announcement further highlighted the need for carbon-neutral solutions with low gas fees, which stands as one of the main reasons for choosing Polygon over the Ethereum blockchain.
Related: Brave to integrate with Solana blockchain on its privacy-enabled browser
Back in Nov. 2021, Opera competitor Brave browser integrated Solana blockchain to strengthen its DApps capability.
We've partnered with @solana to integrate it into the browser and make it the default for DApp support. We will soon bring best-in-class wallet features for the Solana blockchain into our desktop & mobile browsers. #BreakpointLisbon https://t.co/tTB7NXKWjI
— Brave Software (@brave) November 8, 2021
Citing the partnership, Brendan Eich, CEO and co-founder of Brave said that:
“With more and more users and creators requiring tools for fast and affordable access to the decentralized Web, this integration will seamlessly pave the way for the next billion crypto users to harness applications and tokens.”
Brave is yet to announce the addition of multi-chain support to rival its growing competition.
The altcoin powering a privacy-focused web browser is skyrocketing after the announcement of an extension-free crypto wallet. Anti-ad web browser Brave, powered by the Basic Attention Token (BAT), recently announced the release of Brave Wallet, sparking a 37% rally for the browser’s utility token, sending the crypto asset from a 24-hour low of $1.32 to […]
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Brave Browser challenges wallet providers like MetaMask by introducing a native crypto wallet built into the browser.
Privacy-oriented browser Brave continues to deepen its commitment to cryptocurrency adoption by replacing its extension-based cryptocurrency wallet with a browser-native one.
The company announced to Cointelegraph on Tuesday that it is prepping the official launch of Brave Wallet; a self-custody cryptocurrency wallet built into the Brave desktop browser, enabling users to store and buy cryptocurrencies like Ether (ETH).
Brian Bondy, chief technology officer and co-founder at Brave, told Cointelegraph that the new wallet replaces Brave's MetaMask extension fork named Crypto Wallets. According to the CTO, the new implementation that was "built from scratch, natively into the Brave Browser.”
The new wallet is different from other web3 wallets like MetaMask in that it does not require users to download an extension, but is rather built directly into the browser itself as a core feature. According to the firm, this is supposed to reduce security risks and reliance on extra CPU and memory.
Bondy said that the browser’s cryptocurrency wallet is similar to hardware crypto wallets as it implements its own BIP32 hierarchical deterministic wallet.
“The funds are always stored on the blockchain, but the keys to unlock those funds are stored in the Brave Wallet,” Bondy said. He added that user’s private keys always remain on hardware devices if the user chooses to connect a hardware wallet by providers like Ledger or Trezor.
According to Bondy, the industry’s reliance on crypto wallets in the form of browser extensions is one of the main impediments to mainstream crypto adoption due to their limited security.
“One of the biggest problems with extensions is how easy it is for criminals to make fake ones pretending to be a good wallet extension — such spoofing attacks are quite common,” the CTO said. Bondy cited examples like fake MetaMask extensions aimed to steal users’ crypto, noting that these also “tend to accumulate a number of code dependencies” that may potentially lead to unresolved security audit errors over time, adding:
“Extensions cannot paint on the “full canvas” of the browser’s user interface, especially not the address bar or unspoofable toolbar. Brave Wallet can make full use of this user-interface area to help protect users from being tricked.”
The Brave Wallet allows users to transact in “almost any crypto asset,” supporting all chains compatible with the Ethereum Virtual Machine, or EVM, including Polygon, xDai, Avalanche and others. Bitcoin (BTC) support is in development and will come at a later date, Bondy said. As the company plans to expand its browser with more blockchains, the Brave Wallet will also integrate the Solana blockchain in 2022.
Apart from supporting DApp interactions, the Brave Wallet also allows users to send and receive nonfungible tokens, or NFTs, based on EVM-compatible blockchains. The wallet also allows users to buy crypto with many fiat currencies including the United States dollar or euro via the crypto-to-fiat service Wyre.
The Brave Wallet is free and immediately available on desktop, while its mobile application will integrate the wallet at a later date. In order to get started with the Brave Wallet, users need to download the Brave browser and upgrade it to the latest 1.32 version. The new wallet is different from Brave Rewards, the opt-in feature that rewards Brave users with Basic Attention Tokens (BAT) for viewing privacy-protecting ads.
Related: MetaMask pushes institutional offering with BitGo integration
Brave Browser is a brainchild of JavaScript creator and Mozilla co-founder Brendan Eich, who co-founded the Brave Software startup with Bondy back in 2015. In June 2017, Brave raised $35 million in 30 seconds during its BAT initial coin offering.
The crypto-friendly browser has become extremely popular in recent years, with monthly active users surging from 25 million in February to over 42 million as of November 2021.
Brave, the company behind the Brave browser, has partnered with Solana to provide support for the blockchain directly from its browser. According to a press release, the Brave browser will now default to Solana for cross-chain and decentralized app support. Brave users, that are now in the millions, will have access to a Solana wallet […]
In contrast to traditional domains stored on behalf of users by custodians like Google Domains, .crypto domains are stored in crypto wallets.
Major privacy-focused browser Brave is the latest browser to integrate support of decentralized domains by blockchain domain name provider Unstoppable Domains.
Brave announced Thursday that its browser now provides native support for the crypto domain name company, allowing users to seamlessly access .crypto domains via desktop and Android applications.
The new feature unlocks access to 30,000 decentralized websites and more than 700,000 blockchain domain names registered with Unstoppable Domains. Through the integration, the Brave browser is supporting a decentralized network not relying on the traditional Domain Name Service, which is often associated with privacy issues and other risks like hijacking, denial-of-service attacks, and phishing attacks.
A Brave representative told Cointelegraph that the new browser integration uses Cloudflare's DNS over HTTPS method to resolve Unstoppable Domains by default. The integration can be also configured to resolve over the Ethereum blockchain in the Brave settings, as Brave co-founder and CTO Brian Bondy noted. “There is an additional setting which can only be set from settings displayed below named Ethereum. When this is set, the resolution will occur on the Ethereum blockchain directly and the page will result in an IPFS CID,” he explained.
In contrast to traditional domains that are stored on behalf of the user by custodians like GoDaddy or Google Domains, .crypto domains are stored on cryptocurrency wallets. When a user claims a blockchain domain, it is minted as a nonfungible token on the Ethereum blockchain, providing full ownership and control. Such domains can also point to content hosted on the InterPlanetary File System or to cryptocurrency addresses, simplifying the process of sending and receiving crypto on wallets and exchanges like Coinbase.
“Unstoppable Domains was a natural fit for us, giving our users access to the decentralized web with the ability to visit any .crypto domain name. From registering .crypto domains to hosting an NFT art gallery, to sending and receiving crypto, the possibilities are limitless for Brave users,” Brave co-founder and CTO Brian Bondy said.
“We see Web3 as the future of the internet, where everyone has ownership and control of their own content. Brave’s integration with Unstoppable Domains means easy access to the decentralized internet without the hassle of browser extensions or custom DNS settings,” Unstoppable Domains co-founder and CEO Matthew Gould noted.
As previously reported by Cointelegraph, .crypto domains have already been available on major mainstream browsers through Cloudflare's integration since February this year. In April, crypto-friendly web browser Opera expanded its .crypto support integration to browsers on all platforms including iOS, Android, Windows, Mac or Linux.
