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Opera’s Minipay Expands Stablecoin Support: Adds USDC and USDT to Its Digital Wallet

Opera’s Minipay Expands Stablecoin Support: Adds USDC and USDT to Its Digital WalletMinipay, an integral feature of the Opera Mini browser, has announced a significant upgrade with the introduction of ‘Pockets’. This new feature now supports USDC and USDT, two of the most widely used stablecoins, thereby enhancing its existing digital asset management capabilities. The innovative ‘Drag & Swap’ feature simplifies the process of switching between USDC, […]

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Decentralized file sharing, explained

Decentralized file sharing is a peer-to-peer network system where files are distributed across multiple nodes, eliminating the need for a central server.

The importance of decentralization in file sharing

Decentralized file sharing revolutionizes data access by eliminating dependence on centralized servers and utilizing P2P technology to distribute files across a network of nodes.

Distributing and accessing data without depending on a centralized server is possible with decentralized file sharing. Rather, files are kept on a network of linked nodes, frequently through the use of peer-to-peer (P2P) technology

To enable file sharing, each network user can provide bandwidth and storage space. BitTorrent and InterPlanetary File System (IPFS) are two well-known instances of decentralized file-sharing protocols.

The decentralization of file sharing has completely transformed the way users access and store digital content. In contrast to conventional centralized file-sharing systems, which store files on a single server, decentralized file-sharing uses a P2P mechanism. Dispersing files among a network of linked nodes promotes a more robust and secure system.

Key components of decentralized file sharing

Decentralized file sharing depends on a number of essential elements to allow for a dispersed and safe data exchange. 

Firstly, P2P networks, which enable direct user contact in the absence of a centralized server, are the backbone of a decentralized file-sharing system. By doing this, a robust system where participants directly share files is fostered.

Blockchain technology is essential to maintaining integrity and trust in decentralized file-sharing networks. It improves the general security of transactions and file transfers by enabling transparent and impenetrable record-keeping. Smart contracts are self-executing contracts with pre-established rules that automate tasks like access control and file verification.

Furthermore, files are distributed throughout a network of nodes using decentralized storage systems, which often use protocols like BitTorrent or IPFS. This approach eliminates the need for a central server and enhances the availability and reliability of data due to its redundant nature.

Cryptographic methods also protect the integrity and privacy of data. User confidence in decentralized file-sharing systems is increased by end-to-end encryption, which guarantees that only authorized parties may view the content. Together, these elements essentially provide a safe and dispersed setting for easy file sharing via the decentralized web.

How does decentralized file sharing work?

Decentralized file sharing operates on P2P networks by leveraging a distributed architecture rather than relying on a central server.

Peer discovery

Participants in the network (peers) need a way to discover one another, which is accomplished by using distributed hash tables (DHTs) or decentralized protocols. Peers build a network without a central authority by keeping track of other peers with whom they are linked.

DHTs are decentralized systems that enable distributed storage and retrieval of key-value pairs across a network, while decentralized protocols enforce communication rules that enable peer-to-peer interactions without relying on a central authority or server.

File distribution

A file is split up into smaller parts where every component is dispersed among several network peers. This approach enhances file availability, as it is not stored in a single location, ensuring better accessibility and reliability.

Dispersed storage

By distributing file portions over several nodes, decentralized storage systems lessen reliance on a single server. For instance, IPFS employs a content-addressed approach, in which files are recognized by their content as opposed to their physical location.

Peer interaction

Peers request and share file portions directly with one another. The coordination of file transfers no longer requires a central server, thanks to this direct connection. Every peer participates in the file distribution process by serving as both a client and a server.

Blockchain and smart contracts

Blockchain technology is incorporated into several decentralized file-sharing systems to increase security and transparency. Smart contracts are self-executing contracts with pre-established rules that can automate tasks such as access restriction and file verification and reward participants with tokens.

Often, decentralized file-sharing systems use cryptographic techniques like end-to-end encryption to provide privacy and security for the shared files. This ensures that the content can only be accessed and deciphered by authorized users.

Working of a decentralized storage system

Advantages of decentralized file sharing

The benefits of decentralized file sharing include enhanced resilience, improved privacy, scalability and censorship resistance.

By removing a single point of failure, it improves reliability and resilience. In a peer-to-peer network, where files are dispersed among several nodes and peers, the system continues to function even in the event that some nodes go down.

Also, decentralized file sharing, by its very nature, offers enhanced security and privacy. By ensuring that only authorized users can access and decode shared content, cryptographic solutions like end-to-end encryption help lower the danger of unauthorized spying or data breaches.

Better scalability can also be attained as the network expands. In decentralized networks, more users add to the network’s capacity, allowing it to accommodate more demand and traffic without requiring modifications to the centralized infrastructure.

Additionally, decentralized file sharing encourages resistance against censorship. It is harder for any organization to censor or limit access to particular files or information because there isn’t a single entity in charge of the network.

Furthermore, decentralized file sharing frequently incorporates incentive mechanisms through token economies or other reward systems to encourage users to contribute resources like bandwidth and storage, thereby creating a cooperative and self-sufficient environment. 

Challenges and limitations of decentralized file sharing

Challenges associated with decentralized file sharing involve scalability issues, consistency concerns, user adoption complexities, security risks and regulatory uncertainties.

Firstly, as the network grows, scalability issues become more pressing. A poor user experience may result from increased involvement if it causes slower file retrieval times and greater bandwidth requirements.

Moreover, in decentralized systems, problems with consistency and coordination could surface. It may be difficult to maintain consistency in file versions throughout the network in the absence of a central authority, which could result in conflicts and inconsistent data.

Complicated interfaces and user acceptance present another difficulty. When compared to centralized options, decentralized file-sharing platforms frequently have a higher learning curve, which may put off consumers who are not familiar with P2P networks or blockchain technology.

Furthermore, security vulnerabilities still exist, especially in the early phases of decentralized file-sharing deployments. As these systems grow more widely used, they are targeted by different types of attacks, which makes the continuous development of strong security measures necessary.

Regulatory uncertainty is another difficulty. The adoption and long-term viability of decentralized file-sharing platforms may be impacted by the changing legal environment surrounding cryptocurrency and decentralized technology.

The future landscape of decentralized file sharing

The future of decentralized file sharing involves blockchain technology, P2P networks and tokenization for secure, efficient and collaborative data exchange, which challenge traditional models.

Decentralized file sharing is expected to bring about a more inclusive, secure and productive environment. Distributed ledger and blockchain technology will be essential in guaranteeing tamper-proof and transparent transactions and facilitating file sharing among users without depending on centralized intermediaries. 

Decentralized protocols powering peer-to-peer networks will enable direct data transmission between users, cutting down on latency and reliance on centralized servers. Strong encryption techniques will allay privacy concerns and provide consumers with more control over their data. 

Furthermore, tokenization could encourage resource sharing among users, resulting in the development of a collaborative ecosystem. Innovative file-sharing services will probably proliferate as decentralization gains pace, upending established paradigms and promoting a more robust and democratic digital environment.

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Opera browser debuts stablecoin wallet MiniPay in Africa

Opera’s new in-browser, non-custodial wallet runs on the Celo blockchain and targets the platform’s user base in Africa for P2P stablecoin transactions.

The web platform Opera revealed its plans to launch a non-custodial stablecoin wallet integrated into its mobile web browser which will be made available to its user base in Africa. 

On Sept. 13, the web services provider introduced the MiniPay wallet integration, built on the Celo blockchain, that allows users in Africa to send or receive stablecoins by using their already existing mobile numbers.

Opera began its operations in Africa 17 years prior and now has over 100 million users on the continent. The launch of MiniPay will begin in the coming months and first start in Nigeria.

Jørgen Arnesen, the executive vice president for mobile at Opera, commented that:

“Users in Nigeria, Kenya, Ghana, and South Africa have indicated lingering concerns about high fees, unreliable service uptimes, a lack of transparency around transaction progress and a lack of access to mobile data.”

The new MiniPay wallet will operate with sub-cent fees, and onboard and backup wallets through users’ Google credentials. 

It also has integrated with local payment methods including Airtime and MPesa, along with traditional bank transfers to allow its users to add and withdraw stablecoins from the wallet into the local currency.

Arnesen told Cointelegraph that specifically for Africa they developed the Opera Mini browser as a “unique, data-saving technology that allows users to surf the web and gain access to information without having to expend a major part of their monthly income.”

Related: Google Chrome launches built-in user tracking for advertisers

Celo also has a strong user base in Africa and says the integration “opens the door” for more Ethereum-compatible dApps to be built for MiniPay.

Arnesen also mentioned that as the product launches, MiniPay will support Mento stable asset cUSD or Celo Dollar, which tracks the value of USD, on Celo. 

“This way, we are not confusing users with multiple currencies at a time, as would be the case in a regular crypto wallet. “

In April of this year, Opera announced a new generative artificial intelligence (AI) integration into its then-latest browser update. The in-browser AI feature, called AI Prompt, gives users “contextual prompts” for web pages or highlighted text. 

Last December, it launched a suite of security tools with the aim to protect users against “malicious Web3 actors.”

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Opera integrates generative AI in the latest browser update

The multi-platform web browser Opera announced its forthcoming version Opera One with a plethora of new features including the in-browser integration of generative AI.

Artificial intelligence (AI) has been making headlines as the technology becomes more pervasive in major industries across the world

The legacy web browser Opera announced the latest version of its application, Opera One, which will include a new generative AI integration. According to Opera, the in-browser AI feature known as AI Prompt will deliver users “contextual prompts” for web pages or highlighted text. 

In a tweet, the web service provider said AI features will be automatically enabled for all users, and in addition, there will be quick access to other AI tools like ChatGPT and ChatSonic in the browser’s sidebar. 

On the Opera One update page, it lists a few examples of how generative AI can be used while browsing which include shortened long texts for more accessible reads, explanations of “complex ideas” and content creation (i.e. tweets). 

Related: Google DeepMind restructuring aims to deliver next-gen AI breakthroughs

Currently, the AI-enhanced version of Opera One is released under early access. The company has called its updated browser a Web3, “future proof” platform.

Screenshot showing the latest generative AI feature on the Opera One browser. Source: Opera

Back in December, Opera launched a suite of security tools which were aimed at protecting users from malicious Web3 actors. The tools, known as Web3 Guard, are integrated into the original Opera browser which helps detect harmful decentralized applications (DApps) and seed phrase phishing attacks, among other features. 

However, its latest AI integration falls in line with major trends in the emerging technology industry. Internet and tech giants such as Google, Microsoft, Amazon and more have all recently made AI-integration related-announcements since the beginning of the year. 

Moreover, Elon Musk has also reportedly purchased thousands of GPUs for an upcoming Twitter AI project. The Twitter CEO later said he will also be launching a truth-seeking AI platform to be called TruthGPT, which will seek to understand the nature of the universe.

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Unstoppable Domains and Crypto Browser Opera Widen Scope to Offer Accessible Web3 Identity System

Unstoppable Domains and Crypto Browser Opera Widen Scope to Offer Accessible Web3 Identity SystemOpera, the Web3 browser, and Unstoppable Domains, the non-fungible token (NFT) domain provider, have announced that users can now access all domain endings, including .x, .crypto, and .nft, across Opera’s browsers. Additionally, Opera and Unstoppable are offering a free .nft domain that matches an Opera user’s Twitter handle after account verification. Opera Expands Web3 Capabilities […]

Crypto AI Agent Raises $7.5M in Less Than a Day Before Sudden X Suspension

Opera launches security tools to protect users against malicious Web3 actors

The browser also features the ability to enable HTTPS everywhere, bringing an extra layer of protection and making sure the websites people visit use proper encryption protocols.

Web3 browser Opera has announced a new set of security tools intended to help its users mitigate common risks associated with malicious actors in the Web3 ecosystem.

The new set of security tools called Web3 Guard is a suite of browser security features that promises to protect users against malicious decentralized applications (DApps), seed phrase phishing attacks and malicious actors.

The security tool scans for known security risks associated with DApps, such as suspicious code, security vulnerability and audit history. This helps users to get a better insight into the DApp they are planning to browse and alerts them in case any of the mentioned vulnerabilities are found.

The built-in security tools would also check for any seed phrase phishing attacks by scanning web pages for telltale signs of exploit, such as common phishing keywords and properties, without compromising users’ privacy or personal data.

The crypto browser’s new security tools also introduced a malicious address checker within the Opera crypto Wallet that screens recipient addresses against a list of known malicious agents and warns users if suspicious activity is detected. Additionally, the browser has the option to enable HTTPS everywhere, adding an extra layer of security and guaranteeing that the websites users visit employ reliable encryption techniques.

Related: Opera browser integrates Elrond blockchain services to bolster Web3 adoption

In the first week of December, the browser introduced a new nonfungible token feature on the platform allowing users to explore the vast NFT ecosystem through their browser.

The popular crypto browser that gained popularity for offering its native token to users for exploring the web through its platform has become a key point of Web3 interaction. The browser has an integrated wallet and support for many cryptos and Web3 ecosystems

Crypto AI Agent Raises $7.5M in Less Than a Day Before Sudden X Suspension

Opera browser integrates Elrond blockchain services to bolster Web3 adoption

Elrond is one of the first carbon-negative blockchains in Europe, and its integration with Opera will help millions of new users to access the Web3 ecosystem.

Web3 crypto browser Opera announced plans to integrate Elrond blockchain services for over 300 million users. The integration would help Opera users directly access a host of decentralized applications (DApps) and other popular services through the integrated Opera wallet. 

Elrond (EGLD) is a scalable blockchain network that offers various infrastructure services for DApps, enterprise use cases and the new internet economy. The blockchain’s adaptive state sharding makes it one of the fastest and more efficient networks.

With the integration, Opera users will have access to the Elrond Standard Digital Token (ESDT), a native token issuance standard, in addition to the native EGLD tokens, making it a great entry point for Web3. Users will be able to take part without relying on a third-party wallet, ensuring seamless transactions and added security.

In an exclusive conversation with Cointelegraph, Danny Yao, senior product manager at Opera, said that the company is actively pursuing a multi-chain policy, having integrated Ethereum, Bitcoin, Polygon, and BNB Chain earlier. He explained:

“Our aim is to be an understandable and secure entry point to Web3 for anyone interested in crypto. This also means we have provided a wallet selector feature that lets our users choose which wallet they want to use to interact with a particular DApp.”

Opera browser offers an integrated non-custodial crypto wallet, making it an apt entry point for millions of users that can access multiple blockchain ecosystems from this single entry point.

Related: NFT micro-philanthropy gives a new voice to the opera

Talking about the growing security vulnerabilities among DApps and how Opera is mitigating those risks, Yao explained:

“We have provided a wallet selector feature that lets our users choose which wallet they want to use to interact with a particular DApp. We also have a secure clipboard, safeguarding our user's data as they copy-paste sensitive data such as wallet addresses or bank account numbers.”

Elrond blockchain is one of the first European carbon-negative blockchains, ensuring Opera users will have access to eco-friendly solutions. With a growing focus on environmental, social and governance (ESG) concerns in the crypto ecosystem, the partnership between the two Web3 platforms could set a precedent for similar integrations in the future.

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NFT micro-philanthropy gives a new voice to the opera

An opera-centric DAO is using NFTs to open up new funding avenues to classical musicians outside of the limiting legacy institutions.

The music industry has been a major adopter of Web3 integration, with use cases ranging from song rights, blockchain-based streaming and new forms of digital releases. 

Genres like pop, EDM and hip hop have represented nonfungible tokens (NFTs) in the music industry so far. However, classical music, and specifically opera, just found its entrance.

Living Opera, a Web3 community that combines classical music with blockchain innovation, is turning to the emerging technology to give a new voice to the prestigious art and the artists who perform it.

Soula Parassidis, CEO of Living Opera, told Cointelegraph in an interview that the premiere Magic Mozart NFT collection is a way of introducing the innovative world of fintech to the traditional one of classical music and vice versa.

“We wanted it to be easy to understand, low risk, and a way for people to feel comfortable.”

Parassidis explains that these NFTs pay tribute to the concept of the “musikalisches würfelspiele,” a dice game to randomly generate music from precomposed options. This is one of the earliest examples of generative art and is allegedly attributed to Mozart.

Musicians have used NFTs for extra revenues and fan incentives, like Grimes’ $5.8 million digital asset project. For classical music, this could mean a completely new life and a step into relevancy for the next generation.

A survey from the National Endowment for the Arts found that the percentage of adults in the United States who attend at least one opera a year dropped from an already low 3.2% in 2002 to 2.2% in 2017.

The pandemic escalated this by shuttering classical venues and opera houses all over the world. One of the world’s premiere opera houses, the Metropolitan Opera, reported that in July 2021 it was down $25 million in revenue from the previous year.

Related: Experts explain how music NFTs will enhance the connection between creators and fans

Christos Makridis, COO of Living Opera, told Cointelegraph that NFTs open a new way for classical artists and opera singers to bypass the traditional proposal process for grants and endowments.

“Blockchain-based digital assets remove traditional barriers, the proposals, artist grants, etc. so that artists can connect directly with philanthropists and remove a lot of that administrative expenses.”

Makridis says that NFTs give artists in this genre access to “short-term liquidity” that never existed before.

Some classical artists have dabbled in personal NFTs, such as New Zealand composer Matthew Thomas Soong or American composer poser Cristina Spinei.

In 2021 the Dallas Symphony Orchestra was one of the earliest pioneers of classical music NFTs. The orchestra released an NFT as a fundraiser for musicians affected by the Met Opera’s pandemic-related paycheck suspension.

The DAO-like structure of Living Opera opens up micro-philanthropy for artists involved and their projects. Parassidis highlighted the rarity of such innovation in a very traditional industry and called NFTs a catalyst for socio-cultural change.

“They can be used as a mechanism to draw attention to voices, art forms, causes that really need more visibility.”

Both Parassidis and Makridis say this technology can help excite young people to engage with the art form and allow long-term fans new engagement possibilities.

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Opera Crypto Browser integrates Coin98 to bolster Web3 accessibility in Southeast Asia

Opera's Crypto Browser will allow users to access Coin98's collection of multichain NFTs, DEXs, cross-chain bridges, asset swaps and the ability to stake and lend their crypto.

Opera Crypto Browser, a Web3-focused project for facilitating navigation across decentralized applications (DApps), games and metaverse platforms, has announced a partnership with Coin98, a Southeast Asia-based decentralized finance (DeFi) platform, to bolster Web3 accessibility. 

Following the integration of Coin98, users of Opera’s Crypto Browser will be able to tap into the platform’s range of multichain nonfungible tokens (NFTs), decentralized exchanges (DEXs), cross-chain bridges and asset swaps as well as the ability to stake and lend their cryptocurrency portfolios, as per a Thursday announcement.

With Southeast Asia's reputation as an online technology hotspot — with the world's largest number of internet users — and a region with a burgeoning young population and increasingly active crypto community, the collaboration is poised to bring Opera's Crypto Browser one step closer to its objective of promoting mass cryptocurrency and Web3 adoption. Commenting on the development, Susie Batt, crypto ecosystem lead at Opera said:

"With over 340 million users worldwide, it is critical that we encourage mainstream adoption by supplying products and services that everyone can use.”

Opera has been a prominent figure in the cryptocurrency industry for some time, and it was the first major browser to accept Bitcoin (BTC) payments in 2019. In January 2022, Opera launched the Crypto Browser project, a Web3-oriented initiative for making it easier to discover DApps, games and metaverse platforms.

Related: Opera browser enables direct access to BNB Chain-based DApp ecosystem

As part of the project, the browser expanded blockchain support for around nine major blockchain networks including Bitcoin, Solana (SOL), Polygon (MATIC), StarkEx, Ronin, Celo, Nervos Network, and BNB chain. Earlier this year, Opera partnered with Yat, a service that enables the creation of emojified web addresses or URLs.

Crypto AI Agent Raises $7.5M in Less Than a Day Before Sudden X Suspension

Opera browser enables direct access to BNB Chain-based DApp ecosystem

New integration with BNB Chain allows Opera users to access decentralized apps, including DEXs like PancakeSwap, 1inch and BiSwap.

Crypto-friendly browser Opera integrated BNB Chain, a decentralized blockchain ecosystem formerly known as Binance Smart Chain, to enable BNB Chain-based decentralized apps (DApps) on Android, iOS and desktop versions of its Crypto Browser.

The integration will enable Opera's 350 million users to purchase the BNB (Build N Build) token with fiat and send and receive it via the built-in Opera crypto wallet, as well as access DApps on the BNB Chain ecosystem. The list includes decentralized exchanges (DEXs) like PancakeSwap, 1inch and BiSwap as well as decentralized finance (DeFi) products like DRIP Venus, Tranchess, Treehouse, ApeSwap and AutoShark Finance.

The Opera Crypto Browser's BNB Chain integration follows the beta release of a Web3 browser for iOS devices, iPhone and iPad, in April. Opera began the Crypto Browser project earlier this year to focus on Web3 and facilitate navigation across DApps, games, and metaverse platforms. The browser company has since expanded support for nine major blockchain ecosystems: Bitcoin, Solana, Polygon, StarkEx, Ronin, Celo, Nervos Network and now BNB Chain.

According to BNB Chain's Patrick Degenhardt, the primary aim of the Binance Chain community is to create the infrastructure for the "world's parallel virtual ecosystem" and entice the next billion individuals into cryptocurrency. He added that "boosting the adoption of digital assets and blockchain technology requires major efforts on Web2 and Web3 integration."

Related: Opera Crypto Browser is now available on iPhone and iPad

While commenting on the latest development, 5ire's founder and CEO Pratik Gauri told Cointelegraph that the browser company had "the foresight back in 2018 to begin building their product in compliance with Web 3.0 standards."

He believes that this is a game-changer because if Opera's security systems prove to be reliable over time, many investors and day traders will want to use its browser instead of others, adding that:

"And that is the very intent of Web 3.0. To have personal data belong to the individual, not to have big data corporations make billions off of your day and your created content and you get nothing. Second, if the system is secure, with a great UX, they will rule the markets when it comes to the public's transformation to Web 3.0."

Opera has been a part of the cryptocurrency space for a long time, and it became the first major browser to accept Bitcoin (BTC) payments in 2019. According to Opera's Jorgen Arnesen, The Crypto Browser is designed to appeal to both seasoned and new crypto users and targets the growing interest in Web3.

Crypto AI Agent Raises $7.5M in Less Than a Day Before Sudden X Suspension