Microsoft, which recently invested billions in OpenAI, is developing a non-custodial Ethereum wallet integrated into Edge, its chromium-based browser.
Microsoft to embed crypto wallet in Edge
In a tweet on Mar. 17, Albacore, the investigator who picked out this feature, said he was puzzled and thought a crypto wallet on Edge is questionable.
The wallet is currently being tested and remains confidential as Microsoft collects feedback. As such, it is unclear when the technology giant will roll out the crypto wallet to the masses.
However, what’s evident is that Microsoft is keen on exploring the crypto route. By developing an in-built crypto wallet compatible with Ethereum, and thus, other ethereum virtual machine (EVM) blockchains, users would have a medium through which they can quickly store their digital assets, including coins like ETH or non-fungible tokens (NFTs).
Crypto wallets are critical in blockchains and serve as portals for users to interact with the underlying ledgers. A crypto wallet has a private key and a public key. The public key is an address through which a user can receive assets.
Meanwhile, while sending assets or approving a transaction, they require a private key, a series of word phrases, to prove their ownership.
Microsoft plans to launch a “hot” wallet, connected to the internet, where users will have full control of their assets, like Coinbase Wallet or MetaMask.
Wallet in the testing phase
In the onboarding process, Microsoft said the non-custodial wallet would be embedded in Microsoft Edge, and users won’t have to install any extension. However, being in the testing phase, Microsoft said they wouldn’t be liable should any loss of funds be incurred.
“This is a non-custodial wallet, meaning you are in complete control of your funds. We will not have access to your password and recovery key. It is embedded in Edge, making it easy to use without installing any extension. As a tester, you will use your own funds. In the event of loss of funds, Microsoft will not reimburse any loss. This is a confidential project; no details should be shared externally.”
In late February 2023, Microsoft partnered with Ankr to support enterprises and businesses that need to access blockchain data through a reliable node hosting service provider.