Brave (a privacy-oriented browser) consistently moves on to advance its commitment regarding crypto adoption via substituting its extension-based wallet of crypto with that of a browser-native. The company declared that the necessary preparations are being made by the company to launch the Brave Wallet officially, which is a self-custody wallet of cryptocurrency integrated into the desktop browser of Brave, allowing consumers to purchase as well as store cryptos such as ETH (Ether).
The co-founder and chief technology officer at Brave, Brian Bondy, stated that the latest browser takes the place of the MetaMask-based extension fork of Brave called Crypto Wallets. As per the chief training officer, the latest implementation was developed from scratch, locally into the browser.
The respective wallet is unique from the rest of the Web 3.0-based wallets such as MetaMask because it does not ask the consumers to have an extension. However, it is straightly developed into the local browser itself, being a core factor. As per the company, the move is taken to minimize the security threats as well as reliance on extra money as well as CPU. Bondy mentioned that the crypto wallet of the native browser is like the hardware wallets of cryptocurrency because it utilizes its BIP32 wallet, which is hierarchical deterministic.
The funds are constantly saved on the respective blockchain. Nonetheless, the keys which are utilized to unlock the funds are saved within the Brave Wallet, Bondy disclosed. He added that the private keys of the consumer remain all the time on hardware devices if a hardware wallet (provided by Trezor or Ledger etc.) is chosen by the user. As per Bondy, the reliance of industry on the wallets of cryptocurrency having a form of browser extensions counts to be among the chief impediments to the general crypto adoption because of the limited security thereof.
One of the prominent issues which the extensions have is that it is convenient for the criminals to develop fake ones and pretend to be the good ones, like spoofing attacks which have become more frequent nowadays, said the chief training officer. Bondy referred to the instances such as fake extensions of MetaMask targeting to steal the crypto of the customers, describing that several code dependencies may also be accumulated by them to likely take to unsettled security audit issues with time.
He elaborated that extensions cannot fully comprehend the requirements. Nevertheless, the Brave Wallet does provide a complete utilization of the user interface to assist in consumers’ protection.