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Privacy Software Brave unveils Extension-free Crypto Wallet

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Privacy enabled, Brave software introduced a new crypto wallet that facilitates users to store, manage, grow as well as trade their portfolio from a single wallet. According to the press release, the self-custody wallet is built on its own Web3 enabled desktop browser. In addition to that, the newly launched wallet enables users to link with prominent hardware wallets such as Trezor and Ledger.

The latest announcement is a clear indication of Brave to replace its own native crypto wallet and challenge its rivals such as Metamask. Brave claims that the new feature enables users to have seamless accessibility to Web3 decentralized applications [DApps] without the additional requirement of installing browser extensions, as opposed to other crypto wallets. The blog post further reveals the use cases of the new product as well as what users can expect. These are:

  • See live and historical market graphs [price data powered by CoinGecko]
  • Find the best price match against a list of providers with built-in swap functionality
  • Send and receive assets
  • Buy with fiat via Wyre 
  • Interact with DApps for any EVM compatible network
  • Manage their portfolio — with non-fungible token [NFT] and multi-chain support 
  • Easily import their wallet from MetaMask and self-custody wallets, or Brave’s legacy Crypto Wallets extension, or hardware wallets such as Trezor and Ledger [no Ledger Live required]
  • Send and receive NFTs 

Brave Software to boost DApps adoption

With regards to the features of the wallet, Brave’s co-founder Brain Bondy said,

One of the hurdles is the crypto wallet industry’s reliance on extensions, which introduces friction for DApp adoption and often leads to users losing funds via fake extension phishing scams. The Brave Wallet requires no extensions and is instead browser-native, removing key performance and security concerns while preserving the core features of popular crypto wallets. The Brave Wallet offers our over 42 million users, and anyone seeking a crypto wallet without extensions, a high-performance, highly secure, and full-featured wallet built for today’s crypto user.

Earlier this month, the privacy-focused browser, partnered with leading layer 1 protocol Solana [SOL] at the summit called Breakpoint held in Portugal. The main aim of the collaboration was to transform Brave into the default browser with the blockchain and provide support for all cross-chain activities and decentralized applications [DApps].

Brave partners with Solana [SOL] to boost the adoption of Defi, Web3

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Privacy-focused browser, Brave announced a joint collaboration with Solana [SOL] at an ongoing four-day conference dubbed Breakpoint in Lisbon, Portugal. Chiel Exec and co-founder, Brendan Eich of Brave, along with Anatoly Yakovenko, CEO and founder of Solana Labs, outlined their intention to enhance wallet features across all versions of the browser for a better user experience.

The integration will facilitate support to Brave’s 42 million active users and 1.3 million creators, making it the default browser to the layer 1 blockchain for all cross-chain activities and decentralized applications [DApps] support. Speaking more on the partnership, Eich expressed hope that the joint collaboration would help provide better accessibility and enable more and more users to utilize their applications as well as other tokens.

On the same line, Yakovenko of Solana said,

“For billions of people, the mobile web will be their gateway to Web3. Deep integration with browsers is key to helping DApps build the best web experiences. Brave’s announcement of Solana wallet support across all versions of their browsers is an important step to onboard the next billion users to Solana.”

The latest news is significant after SOL attained the coveted top four cryptocurrencies by market cap after flipping Tether [USDT], the world’s largest stablecoin, and hitting a new all-time high close to $260, two days ago.

Brave and Solana’s key takeaways

The announcement also mentions some key outcomes with regards to the alliance such as the implementation of the Themis protocol, an important development on BAT 2.0 infrastructure, created by the browser on the Solana Network. Apart from that, the joint partnership would also facilitate the SOL DEX aggregator for seamless swaps, nonfungible tokens [NFT] support, dispatching tokens, and accounts creation. 

According to the blog post, the Solana blockchain’s ability to scale up transactions would not only help provide seamless and faster adoption of decentralized finance [DeFi] and Web3 but also cut down costs for users, compared to Ethereum. Just a few days ago, Brave had replaced the tech giant Google with its own curated search engine called Brave Search. The policy of setting its own search engine as the browser default had become a key ‘ focus of antitrust scrutiny ‘.

Brave Browser Integrates Anti-Phishing Solutions To Prevent Crypto Scams

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Prominent privacy-centric web browser, Brave has been making headlines lately with several updates along with its Gemini integration to enhance its crypto features. The platform once again made news following its association with a cybersecurity firm, PhisFort.

Protection Against Crypto Scams

As the popularity and the value of the crypto industry have been progressing rapidly, the attacks and scams pertaining to the same seem to be following suit. While every other crypto platform has been taking the necessary measures to prevent scams and attacks, Brave joined the list and collaborated with PhisFort. On Tuesday, Brave browser took to Twitter to announce that the platform had incorporated PhishFort’s anti-phishing solutions to steer clear of potential crypto scams.

The tweet read,

“Brave now uses @PhishFort’s open source anti-phishing solutions for our in-browser Crypto Wallets to better protect our users. PhishFort’s spam list detects crypto scams and immediately warns our users of any suspicious domains.”

PhishFort isn’t new to the crypto-verse, the cybersecurity firm has partnered with several notable crypto platforms including MyEtherWallet as well as Binance Labs. PhishFort also elaborated on its latest affiliation with Brave and suggested that users of the browser would be protected with additional security that would have a vital impression on the protection of the community.

The anti-phishing platform shared a blog post detailing the importance of its integration on the browser. The post indicated,

“This integration provides additional security to their users who use the crypto wallet functionality built into the browser as they are now protected by our real time intelligence feed.”

Previously, PhishFort had highlighted that crypto users are prone to scams as “crypto is a high-value target for criminals.”

Back in June, Brave Browser was subject to immense backlash for the inclusion of affiliate links to the searches of its users. This further redirected the users of the browser to another website. However, the platform rectified its mistake and affirmed that the personal data of its users were not compromised.

The platform’s latest move along with Gemini integration reveals that Brave is diving deep into the crypto industry by bolstering its features related to crypto.

Crypto-friendly Brave Web Browser Launches Encrypted Video Calls

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On May 26, crypto-friendly BraveB web browser announced private and unlimited video calls can now be made from the browser. The privacy browser shared through its Twitter page that video conferencing is now possible through the Brave Nightly, the testing version of Brave browser.

The new video conferencing product dubbed Brave Together enables end-to-end encryption for video calls, however, it’s still in the testing phase since some of the features are yet to be completed. For instance, the product only enables encryption for one-on-one video calls currently.

Crypto-friendly Brave web browser taps into the growing demand for video conferencing

Moreover, this product by Brave comes amid a spike in the demand of video conferencing software due to the coronavirus pandemic. In particular, Zoom has seen a massive rise in usage in the last few months.

Nevertheless, Zoom has been scrutinized due to security and privacy, with ‘Zoombombings’ coming out as a rife experience during the lockdown. Back in April, Elon Musk’s SpaceX barred all of its employees from using Zoom due to security and privacy concerns.Nevertheless, Zoom is also set to launch end to end encryption soon to protect the privacy of its 300 million customer base.

Brave browser usage grows

Brave Together is based on the open-source encrypted video software Jitsi. The software was highly upheld by NSA informant Edward Snowden back in 2017. Moreover, its not necessary to create an account to use the video conferencing product, however, the user should use the Brave browser.

The crypto-friendly Brave web browser rewards its users with Basic Attention Tokens (BAT) for viewing advertisements. In fact, the Brave browser has made regular gains in adoption over the last few months. According to the company’s head of marketing Des Martin, the crypto-friendly Brave web browser surpassed one million users during March alone.

However, despite the large user base, only a small percentage of the users take advantage of the browser’s privacy features as per the firm’s CEO.

Brave Introduces Privacy Focused Video Calls Tackling Zoom’s Concern

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The concept of data privacy and secure encryption to avoid unauthorized access is a long-standing debate and privacy-centric Brave Browser has been a long-term advocate of this moment.

In line with the above, the cryptocurrency-backed web browser has now launched an in-browser feature for video calls which can be conducted out with complete end-to-end encryption.

The announcement was made on Twitter and Brave’s official page indicated,

As noted in the above tweet, the video service will be called ‘Brave Together’ and can be used to make unlimited private video calls including the participation of two individuals. The feature is open to all Brave users as no sign-up form is required for access.

 

Demand for Video-conferencing Software amidst COVID-19

As the global population continues to undergo extreme lockdowns in certain places, the usage of video conferencing software has seen a massive surge over the past two months. Zoom has been one of the main benefactors of this situation, as the software has witnessed a catastrophic increase in utilization.

However, the video conferencing app recently got the end of the stick. With privacy concerns linked to software running wild in the industry, the criticism was posed when Elon Mush’s SpaceX released an internal memo, asking his staff to limit the use of conference software.

Keeping the conflict in mind, it can be speculated the Brave Browser may have released a privacy-focused video conferencing to target that specific group of people. However, it is still at an early stage of development and only time can tell if ‘Brave Together’ is able to generate the same amount of interest as the Brave Browser.

Brave and Binance Partners to bring Crypto-Trading into Browser

The intent of Brave’s ecosystem to put cryptocurrency in the mainstream has continued as well, with the organization pairing up with Binance back in March 2020 to introduce trading directly on to their website.

Brendan Eich, CEO, and co-founder of Brave had stated,

“Cryptocurrency trading can be a daunting task for users not familiar with such assets, so integrating Binance into the Brave browser makes the process seamless and simple. By bringing a leading exchange like Binance directly into the browser, Brave is taking cryptocurrency trading mainstream and enabling users to conduct transactions with ease.”

Although Brave’s native BAT token had an average market cap of only $300 million at press time, the organization has been able to keep its best foot forward in its recent developments.

 

Latest Brave Research Shows EU Countries’ Actions Would Result in GDPR Failure

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The concept of online security and data protection has been a battle that has been going on since the dawn of the digital age. Examples such as the Cambridge Analytica scandal triggered a number of national governments and organizations to rally behind a single cause: protecting consumer data, no matter what.

After a lot of discussions and deliberations, the General Data Protection Regulation [GDPR] came to life in the European Union, a step to address the transfer of personal data outside the EU and EEA areas. Two years since its inception, Brave has discovered that several European governments have not equipped their national authorities to enforce the much talked about GDPR. 

Brave’s analysis showed that the GDRP was in danger of failing due to the lack of focus on the implementation of the regulation across EU states. Very few tech investigators have been identified to be involved in the exploration of private sector GDPR issues. Analysts have claimed that the fall of the GDPR must be attributed to the EU governments and not to the data protection authorities.

Research showed that even when mistakes were spotted within the data protection system, DPA’s held back while punishing big technology firms. The main reason for this was that government entities cannot keep up with the financial burden that comes with fighting bigwigs such as Facebook and Amazon. Brave’s Dr. Johnny Ryna had said:

“Robust, adversarial enforcement is essential. GDPR enforcers must be able to properly investigate ‘big tech’, and act without fear of vexatious appeals. But the national governments of European countries have not given them the resources to do so. The European Commission must intervene.”

Brave claimed that out of the twenty-eight national GDPR enforcers in Europe, only five had more than ten technology specialists. This meant that very few regions actually had the capacity to go head-to-head with giant technology corporations. Almost half of EU’s GDPR enforcers have small budgets in the range of 5 million pounds, a measly amount compared to the war chests held by companies.

According to the data presented by Brave, the UK government’s privacy watchdog was the largest and the most expensive to run. With its research, Brave has called upon all national agencies within the GDPR to enforce strict privacy protocols. The Irish Data Protection Commission Commission reported that the number of companies it deals with has only gone up while the incoming budget decreased.

The Brave report suggested multiple solutions for countries in the EU to bolster their GDPR developments. One recommendation was to expand DPA technology specialists within the specified regions, a step to track all wrongdoings within the sphere. The next step was to fund DPA properly so that they could fight companies in courts if they flout “enforcement decisions”. Another suggestion was to develop a specialized EU unite to assist national DPAs with regards to technology investigations.