The Brave Browser prioritizes privacy As part of its ongoing commitment to bitcoin adoption, Brave has replaced the cryptocurrency wallet that was previously available as an extension with a browser-native wallet.
The business stated on Tuesday that it is preparing for the formal launch of Brave Wallet, a cryptocurrency wallet incorporated into the Brave desktop browser that will allow users to store and buy cryptocurrencies such as Ether. Brave Wallet will be available for download soon (ETH).
Brave’s chief technical officer and co-founder, Brian Bondy, told CoinNewsDaily that the new wallet will replace the company’s MetaMask extension fork dubbed Crypto Wallets, which was previously available. According to the CTO, the new solution was “created from the ground up and integrated directly into the Brave Browser.”
When compared to previous web3 wallets such as MetaMask, the new wallet is distinct in that it does not require users to download an extension, but is instead integrated directly into the browser as a core functionality. According to the company, this is intended to reduce security threats as well as the need for additional CPU and memory.
Bondy stated that the browser’s cryptocurrency wallet is similar to hardware crypto wallets in that it implements its own BIP32 hierarchical deterministic wallet. “This is similar to what hardware crypto wallets do,” Bondy remarked.
According to Bondy, “although funds are always held on the blockchain, the keys to unlock those funds are stored in the Brave Wallet.” He went on to say that if a user chooses to link a hardware wallet from a provider such as Ledger or Trezor, the user’s private keys will always remain on the hardware device.
In Bondy’s opinion, the industry’s reliance on crypto wallets in the form of browser extensions is one of the most significant hurdles to widespread cryptocurrency adoption, owing to the inadequate security of these wallets.
As the CTO pointed out, “one of the most serious issues with extensions is how easy it is for criminals to create false ones that appear to be legitimate wallet extensions – such spoofing attacks are quite prevalent.” As an example, Bondy pointed to bogus MetaMask extensions that were designed to steal users’ cryptography, noting that these also “tend to accrue a number of code dependencies” that might potentially lead to unresolved security audit issues over time.
“Extensions are not permitted to paint on the “full canvas” of the browser’s user interface, particularly the address bar or unspoofable toolbar.
This user-interface area can be fully utilized by Brave Wallet to help protect users from being tricked. .”