Exodus Wallet’s new browser extension provides ‘unlimited access’ to Solana

 Exodus has announced the release of a new multi-chain cryptocurrency browser extension. Through their Chrome and Brave browsers, users can now “easily explore and navigate the world of DeFi.”

Browser extensions typically cater to a single ecosystem. In the case of MetaMask, however, minor changes in the settings allow the wallet to be used with multiple chains, including Ethereum and Binance Smart Chain.

Exodus, on the other hand, stated that its new browser extension will be compatible with multiple chains, beginning with Solana at launch. The company is working on introducing Ethereum next, and other “popular” blockchains, including Algorand, are on the way.
The company is working on introducing Ethereum next, and other “popular” blockchains, including Algorand, are on the way.

“Exodus’ foray into Web3 begins with unlimited access to the Solana network’s world of DeFi and Web3 applications, but will soon be followed by support for the Ethereum network and other popular smart contract blockchains.”

Why did Exodus decide to start with Solana?

Exodus stated that the decision to launch with Solana rather than Ethereum was based on usability. Furthermore, the firm stated that Ethereum’s high entry cost and unpredictable gas fees can be prohibitive to the average user playing with smaller sums.

“Unlike Ethereum, Solana can scale to hundreds of thousands of transactions per second at such a low cost that you’d have to send thousands of transactions to spend a single dollar in fees.”

As a result, it made sense, to begin with, Solana. However, as previously stated, the team is working on bringing Ethereum and other chains online.

Users can use the browser extension to:

In the extension, you can buy, sell, and swap cryptocurrency directly.

  • Mint, trade, and view your NFT collection.
  • In the extension dashboard, you can browse and pin your favourite Web3 projects.
  • Stake Solana
  • Monitor your balances over time.
  • Navigate through a simple and easy to understand interface.
  • Purchase cryptocurrency at a low cost using a credit/debit card or a bank account.
  • Exodus’ world-class customer support can provide you with the assistance you require.

Do users want to forego convenience in exchange for safety?

Although crypto wallet extensions are not inherently risky, connecting with dApps exposes users to an additional attack vector

To allay these fears, an Exodus Community Manager stated that the company is working on features to combat this, such as introducing a list of verified dApps.

“We’re working on features to better protect our users, such as curating a list of verified dApps that users can access directly in the extension should they not feel safe enough to go looking for dApps themselves.”

Exodus’ message concluded by emphasizing the importance of security and user education.

Quick Poll

Related

Rateweb

South Africa’s primary source of financial tools and information

Contact Us

admin@rateweb.co.za

Disclaimer

Rateweb strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.

Rateweb is not a financial service provider and should in no way be seen as one. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.