Exodus launches its web browser wallet and could compete with Metamask

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Key facts:
  • The new Exodus extension allows you to exchange cryptocurrencies and view NFTs.

  • From desktop wallet to browser extension, Exodus plans to add more networks.

The Exodus cryptocurrency wallet already has a web browser extension, competing with Metamask in operating decentralized finance or DeFi protocols. Notably, the wallet does not work with Ethereum at the moment, but with Solana, although in the future it hopes to integrate with other protocols, it says on their website.

The extension is available for browsers like Google Chrome and Brave, from where you can manage non-fungible tokens or NFTs from the aforementioned network.

Exodus explained in a publication that the reason to start with Solana is that the high commissions of the Ethereum network make it difficult for new users to access this ecosystemdespite still being the most popular network in the DeFi ecosystem.

Surf [Ethereum] it is unpredictable and the expensive fees can be restrictive for the average person looking to experiment with small sums of money. While Exodus plans to add Ethereum soon, launching with Solana made more sense.

Like Ethereum, Solana is a smart contract platform that hosts a world of Web3 applications such as decentralized exchanges and lending platforms. Unlike Ethereum, Solana can scale to hundreds of thousands of transactions per second at a cost so small that you would have to send thousands of transactions to spend as little as $1 in fees.

Exodus.

With the Exodus browser wallet, they explain, you can buy, sell and trade (swap) cryptocurrencies; as well as issue, sell and display NFTs. Similarly, users will be able to browse through Web3 projects, stake Solana and view the history of their savings in cryptocurrencies, in addition to being able to buy cryptocurrencies. with debit cards, credit or bank account.

Exodus is a pioneer wallet in facilitating access to more than 100 cryptocurrencies. More recently, in December of last year, they enabled the Lightning network to facilitate transactions with Bitcoin, CriptoNoticias reported. Due to these characteristics and with its plans to expand services to the DeFi market, Exodus is emerging as a new competitor in this ecosystem.

For its part, another of the heavyweights in the industry is: Metamask, a mobile wallet and popular web extension that is widely used to store and distribute NFT tokens. Despite its popularity, one of the features that could work against it is that configuring this wallet to work with networks other than Ethereum involves several steps, which can be complicated for a novice user.

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Exodus launches its web browser wallet and could compete with Metamask

Also, this year Metamask has had some performance problems. A situation that paves the way for Exodus, which with its history and ability to integrate many cryptocurrencies, could displace Metamask if its new browser extension turns out to be successful. If, in addition, it manages to integrate other networks such as Binance Smart Chain, Ethereum and Avalanche, it could provide ecosystem users with more options to store and trade Web 3 products.

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