Brave plans to launch browser-native crypto wallet against fake extensions

The famous browser Brave, known for its privacy excellence, continues to intensify its goal of crypto adoption as it has now decided to replace its extension-based cryptocurrency wallet with a browser-native wallet.

The company on Tuesday announced that it is gearing up for the official launch of its Brave wallet, which would be a self-custody crypto wallet created into the Brave desktop browser. The main aim behind the launch is to enable users to buy and store cryptocurrencies like Ethereum (ETH).

Brave CTO talks about the possibilities

The co-founder and Chief Technology Officer (CTO) of Brave Brian Bondy said that the new wallet replaces Crypto wallet, its Metamask extension fork. The company’s CTO further adds that the new implementation is created from scratch in the company’s own Brave browser.

The upcoming wallet would be different from other Web3 wallets like Metamask in the sense that it does not need users to download any extension. It is rather built entirely into the browser itself as a core functionality. As per the company’s statements, the idea behind this is to reduce security risks and reliance on extra CPU and RAM.

Bondy further added the browser’s crypto wallet implements its own BIP32 hierarchical deterministic wallet and is similar to the hardware crypto wallets. Interestingly, the funds will always be stored on the blockchain, while the keys to unlock these funds would be stored on the Brave wallet. 

He further added that if a user chooses to connect a hardware wallet like that of Ledger or Trezor, the private keys will remain on these hardware devices.

The CEO of Brave further states:

“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.”

As TheCoinRise reported, the company had also partnered with crypto exchange giant Binance earlier to develop in-browser crypto trading which now seems a part of the complete mission of bringing browser-native crypto wallet.