Due to DeFi’s massive growth and lack of direct competitors, the Ethereum wallet and MetaMask browser extension recently exceeded 10 million active users, a major milestone for the protocol set by ConsenSys. Now a new browser wallet is looking for an alternative to MetaMask by doing something that most developers have shied away from – creating a web-based experience instead of a mobile client. XDEFI
Emile Dubié, CEO of XDEFI Wallet, told Cointelegraph why MetaMask’s growth has so far been unchallenged by its competitors:
“I think the developers decided to use Mobile as the next client for blockchain users, even though most of the volume in DeFi is still going through the web client. Why? Because from a UI point of view you have more space and the browser wallet offers the user much more flexibility. “
This flexibility makes a native integration with certain protocols in mobile wallets superfluous, says Dubié and makes every decentralized application accessible by extension.
So while most developers place the future of DeFi development in the mobile experience, according to Dubié, web-based extensions are now more user-friendly.
XDEFI Wallet, which operates a browser wallet that integrates with Web 3 technology, recently closed a $ 6 million funding round backed by some of the largest venture funds in the crypto space . The investment round was led by Mechanism Capital, which included DeFiance Capital, Alameda Research, Sino Global Capital, Animoca Brands, Morningstar Ventures and CoinGecko.
Dubié explained to Cointelegraph how XDEFI plans to take full advantage of the Web 3 experience:
“If you want to realize the full potential of Web 3, you need a wallet that enables it [you] to interact with web applications based on different blockchains. You don’t have to switch from wallet to wallet, you don’t have to deal with multiple seed phrases – just use the same medium to access different destinations. “
Related: The founder of OP Crypto Capital thinks Gaming, Web 3 is the driving force behind the crypto economy
XDEFI is currently integrated into nine blockchains: Ethereum, Polygon, Terra, THORChain, Bitcoin, Binance Chain, Binance Smart Chain, Bitcoin Cash and Litecoin. The CEO said there will be support for Arbitrum, Solana and Avalanche.