Due to the meteoric rise of DeFi and the lack of direct competitors, the Ethereum wallet and browser extension MetaMask recently surpassed 10 million active users, a milestone for the ConsenSys-led protocol. Now the new browser wallet is meant to provide an alternative to MetaMask, and do what most developers refuse – to build a web interface instead of a mobile client.
Emil Dubey, CEO of XDEFI Wallet, explained to Cointelegraph why MetaMask growth was not affected by competitors in the past:
“I think the developers decided to move to mobile to become the next client for blockchain users, although the truth is that most of DeFi’s work is still done through the web client. Why? Because you have more options when it comes to user interfaces and browser wallets provide more flexibility for users.
This flexibility eliminates the need for built-in protocol-specific integration into the mobile wallet, Dube said, making any decentralized application accessible with an extension.
So while most developers are investing in the future of DeFi’s growth in mobile, Dubier said online extensions are now easier to use.
XDEFI Wallet, which runs a browser wallet aimed at integrating with Web 3 technologies, recently completed a $ 6 million funding round backed by some of the largest crypto-investment funds. The investment round was led by Mechanism Capital with the participation of DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures and CoinGecko.
Dubey explained to Cointelegraph how XDEFI plans to take full advantage of the power of Web3:
To unleash the full potential of Web 3, you need a wallet that allows you to interact with web applications built on different blocks. You do not need to switch from one wallet to another, you do not need to deal with multiple initials statements – just use the same car to get to different destinations. ”
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XDEFI currently integrates with nine blocks: Ethereum, Polygon, Terra, THORChain, Bitcoin, Binance Chain, Binance Smart Chain, Bitcoin Cash and Litecoin. The CEO said that there will soon be support for Arbitrum, Solana and Avalanche.