Microsoft's Edge browser is developing its own crypto wallet

Highlights:

1. The tech giant is preparing a more substantial entry into Web3.
2. Microsoft also recently integrated Bing with an AI-powered search and chat feature via OpenAI’s ChatGPT.
3. Microsoft has hired Albacore to insert a non-custodial crypto wallet into Edge.

Microsoft is preparing a more substantial entry into Web3 providing users with a more secure and streamlined way to manage their digital assets. It also reflects the growing importance of Web3 technologies in the tech industry.

The Microsoft Edge browser will soon include a cryptocurrency wallet feature. The function, known only as “Crypto wallet,” is currently in development and being tested on an unidentified test population. The first look at a new “Crypto Wallet” feature that Microsoft appears to be developing for the default web browser in Windows 11 comes from a recent leak.

The wallet will support storing, sending, and receiving cryptocurrencies as well as storing NFTs. You will be the only person with access to your wallet, which will be password-protected.  
Microsoft emphasises the advantages of eliminating the need for a browser extension by integrating the non-custodial wallet directly into Edge. (Wyciślik-Wilson)

On February 7, Microsoft integrated Bing with an artificial intelligence-powered search engines and chat via OpenAI’s ChatGPT as part of new improvements to its Bing search engine and Edge browser. (Quarmby)

Microsoft has reportedly hired Albacore as a developer to insert code that would integrate a non-custodial crypto wallet into the company’s default Edge browser, according to screenshots posted on Twitter by Albacore, a pseudonymous software researcher from central Europe.

Recent versions of the Microsoft Edge browser already include the feature, but it is buried and inaccessible to consumers. Microsoft develops and tests a lot of things, but Albacore warns that many of them are never used.

The researcher remarked, “The Edge browser crew are kings of throwing everything at the wall and seeing whether it sticks. said the researcher. The number of outmoded gimmick features that they tested and ultimately abandoned is substantial.

Albacore claims that the Edge wallet still works properly. “Considering I was able to use it quite fine,” Albacore told Decrypt, “I’d guess that a rollout is not out of the question.” One would expect that they wouldn’t bother putting the services into production if it was only a little trial.” (Jason Nelson, 2023)

Albacore thinks that Microsoft’s entry into the cryptocurrency market is an effort to compete with Brave Browser, Opera’s main rival and a browser that focuses on privacy and also supports Web3.

Albacore hypothesized that the company was testing more Brave feature additions to see whether some of the user base would be interested in them. In May, Brave updated its desktop browser to include support for the Solana blockchain. Earlier this month, Brave improved the functionality of its self-custody wallet, enabling users to buy and trade cryptocurrencies without downloading a 3rd party extension.

Microsoft may take this action as part of a recent push to considerably expand Edge’s features and functionalities. Edge has traditionally lagged behind rivals like Google’s Chrome and Apple’s Safari in terms of popularity. Microsoft has worked with other companies to get into this developing market, and in September it led a $20 million strategic investment into Space and Time, a Web3 database server.(Quarmby) 

Users won’t need to install any extensions because the non-custodial wallet will already be integrated into Microsoft Edge during the onboarding process, according to Microsoft. Microsoft asserted that, given the testing stage, they would not be responsible for any financial losses. “Since our wallet is non-custodial, you have total control over your money. (ItsBitcoinWorld)

Your recovery key and password are private to us. It is simple to use without installing any extensions because it is embedded in Edge. You will use your own money as a tester. Microsoft will not make up any losses in the case of a fund loss. No information should be disclosed to anyone outside the project because it is private.

References:

1. Jason Nelson, Decrypt /. “Crypto Wallet Prototype Discovered Inside Microsoft Edge Browser – Decrypt.” Decrypt, 18 Mar. 2023, decrypt.co/123930/crypto-wallet-prototype-hidden-in-microsoft-edge.

2. ItsBitcoinWorld, Guest Author. “Guest Post by ItsBitcoinWorld: Crypto Wallet Prototype Discovered Inside Microsoft Edge Browser | CoinMarketCap.” Guest Post by ItsBitcoinWorld: Crypto Wallet Prototype Discovered Inside Microsoft Edge Browser | CoinMarketCap, 2023, coinmarketcap.com/community/articles/6415a3780a1e31489dba3134.

3. Quarmby, Brian. “Microsoft Reportedly Testing Edge Browser Web3 Wallet Integration.” Cointelegraph, 18 Mar. 2023, cointelegraph.com/news/microsoft-reportedly-testing-edge-browser-web3-wallet-integration.

4. Wyciślik-Wilson, Sofia. “Microsoft Edge Is Getting an Integrated Crypto Wallet.” BetaNews, 18 Mar. 2023, betanews.com/2023/03/18/microsoft-edge-is-getting-an-integrated-crypto-wallet.