As we've previously told you, Microsoft is already working on Chromium in order to help Google port it over to ARM based Windows machines, such is the power that the world's top browser holds. There could also be a chance that Microsoft will retain the Edge browser alongside the new browser, similar to how Internet Explorer's existence after the incoming of Edge. The project is presently named as Anaheim and will host web pages in a fashion pretty similar to how Google's Chrome handles it.
As to whether the new browser will keep the name Edge, or switch to a different brand to fully differentiate itself from what could easily be perceived as a major failure, is still unknown. Google forked Blink from Apple's open source WebKit rendering engine, which is used by the Safari browser and previously by Chrome and other Android browsers. Further, it's also unlikely they'll ship a version of Edge that's simply powered by the Chromium engine, but instead will probably build a specific fork of the Chromium engine designed for the specific goals they want to meet with this new version of Edge.
If that's legit, it'll see Microsoft swap out the EdgeHTML engine it built from scratch for the one that's part of the open source Chromium base, and powers Google Chrome, Opera, and courageous.
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The underappreciated web browser that's standard with Microsoft's Windows 10 operating system may be getting an overhaul, from the inside out.
There's still no official name for the browser. That's why Microsoft throwing in the towel on EdgeHTML is a good thing. Just like Chrome OS, Windows Lite will have to be pre-installed by an OEM.
Usually, lack of competition is a negative for end users.
Microsoft engineers were recently discovered committing code for a Chromium project created to get Google Chrome to work on Windows 10 for ARM.