DeFi’s rapid growth and the lack of direct competitors made it possible for MetaMask, an Ethereum wallet and browser extension, to surpass 10 million active users. This is a significant milestone for ConsenSys. A new browser wallet, MetaMask, is now looking to offer an alternative. It does something most developers shy away from: it creates a web-based client instead of a mobile client.
Cointelegraph was presented by Emile Dubie (CEO of XDEFI Wallet), explaining why MetaMask has grown unaffected by its competitors.
“Developers decided that mobile would be the next client for their blockchain clients, but the truth is that the majority of volume in DeFi still goes via the web client. Why? Because browser wallets offer more flexibility and more real estate for UI purposes.
Dubie stated that this flexibility eliminates the need to integrate natively with certain protocols within the mobile wallet. Any decentralized app can be accessed with an extension.
Dubie stated that web-based extensions offer greater usability, even though most developers place the future growth of DeFi in the mobile experience.
XDEFI Wallet is a browser wallet that integrates with Web 3 technologies. It recently closed a $6 million round of funding. This round was supported by some the largest venture funds in crypto. Mechanism Capital led the round, along with DeFiance Capital and Sino Global Capital. Morningstar Ventures, CoinGecko, and Alameda Research participated.
Cointelegraph was informed by Dubie about XDEFI’s plans to fully exploit the Web 3 experience.
A wallet that supports different blockchains is essential if you are to unlock the full potential of web 3. There is no need to change wallets or deal with multiple seed phrases. You can use the same vehicle for different destinations.
Related: OP Crypto Capital founder cites Web 3 and gaming as the drivers of crypto economy
XDEFI integrates currently with nine blockchains, including Ethereum, Polygon and Terra. The CEO stated that support for Arbitrum and Solana as well as Avalanche is coming soon.