MetaMask It may be the first name that comes to mind for many crypto-users, but as its popularity grows beyond cryptocurrency users, it will potentially attract a wider audience. Ethereum—starting with Bitcoin.
If you are looking for a network like Bitcoin The following are some examples of how to use SolanaUsers are exploring more and more decentralized financial options. DeFiThis is true across an even wider range of eco-systems.
Christian Montoya acknowledged the trend during an interview. Decrypt—and said MetaMask has been building in this direction for some time. (Consensys, one of 22 investors who own a editorially independent publication Decrypt).
“Obviously, MetaMask is the O.G. Ethereum wallet, and it was built for Ethereum,” He said. “But we've been exploring for quite a while how we can expand beyond that.”
Consensys has advertised earlier this month. Job posting For a Product Manager responsible for MetaMask “end-to-end Bitcoin experience,” Developing and delivering future-oriented products.
Ordinals, what is your experience in posting? Runes—Bitcoin's equivalents of NFT and meme coin protocols, respectively—as a plus. As well as “anything is on the table,” Montoya stated that basic Bitcoin functionality is the best place to start.
“There's a lot of different things that make up Bitcoin’s ecosystem, and it would be very difficult for any wallet to try to capture all of that,” Montoya said. “What we're really looking for is someone who can make strategic decisions about what the most important things to explore are.”
MetaMask was created by Consensys and became popular in 2016 when Ethereum launched. NFTs Buy at eye-popping valuations In 2021 and 2022.
But Ethereum isn't necessarily the epicenter of the crypto ecosystem anymore. As the popularity of high-value NFTs faded, meme coins rapidly took their place last year—and that ecosystem flourished on Solana instead of Ethereum, thanks to low costs and speedy transactions. DeFi also has gained popularity on Bitcoin.
Ethereum also received a lot of criticism in the last 12 months. Bitcoin and Solana both saw a surge in attention and prices both soared to new all-time heights just within the last seven days, but ETH has been stagnant and is still well below its peak price of 2021.
It's an ecosystem in turmoil: Investors and builders alike are frustrated at the languid price action, with some pointing to a lack of engagement by the Ethereum Foundation or the unexpected value drain of layer-2 networks contributing to the situation.
Recently, Vitalik Anderin, creator of Ethereum, adopted an even more radical approach to the Foundation. "degen" personality—a "wartime" As some people have said, it has a certain vibe. Buterin's tone shift has widely been seen as an attempt to rally his troops and compete with the vibrancy of the Solana community, among others.
Multi-chain heading
This isn't the first time that MetaMask has enabled exploration of other crypto ecosystems, though previous efforts were fueled by external developers.
Digital wallets will launch in 2023. MetaMask Snaps feature. This allows the user to integrate community-developed features, like Solflare Snap for Solana-based NFTs or Leap Snap tokens Discussion You can also find out more about CosmosInternet of Things Ecosystem
Montoya explained that Snaps enabled MetaMask to modularize the code base of the wallet.
MetaMask, among other features resulting from internal development, will launch a cross chain API in the second half of this year. This feature allows decentralized applications He said it was possible to simultaneously connect with and use multiple networks.
“The dapps that developers can build today are somewhat limited by this legacy paradigm, which is one account, one network at a time,” Montoya also added that API 2.0 will be able to support “at least 50 different non-EVM networks” Snaps has already been enabled.
MetaMask began its full-steam multi-chain strategy around two years back, but Montoya says that projects have been issuing assets on different networks in the last year.
Pudgy Penguins is, as an example, the second most valuable Ethereum NFT collection in terms of market cap. launched Last month, the PENGU symbol was placed on Solana.
After being The following are some of the ways to get in touch with us. Will MetaMask’s switch to Ethereum be too little, too late? Recently, rivals of multi-chain have grown in popularity.
Magic Eden is the NFT market place that was built first on Solana. You can also go to Multi-chain by 2022 The same year, the chain was launched. The debut of A cross-chain wallet that supports Bitcoin, Ethereum Solana and the Ethereum Scaling Network Polygon. Magic Eden traders were able to claim their recent ME tokens only through this wallet.
Phantom is a Bitcoin wallet that also accepts Phantom Ordinary You can also find out more about the following: BRC-20 Last week,, along with Ethereum and scaling network like Base, launched a $150 Million Series C Fundraising Round. The wallet has gained substantial adoption among meme coin traders in recent years amid constant speculation over a potential Phantom token drop—which the company has denied.
Phantom stated that 15,000,000 monthly active users had been reached. Consensys is also a part of the Consensys group. reported MetaMask will have 30 MAUs by January 2024. This story does not include any newer information.
The attempts to find a way forward within a multi-chain eco system remain fragmented. Further development will be needed in order to reach mass adoption. But one analyst said that MetaMask's shift could be a step in the right direction.
“No single chain can currently handle the throughput needed for a global, simultaneous, viral event,” Matthew Sigel, VanEck Director of Digital Asset Research told Decrypt. “[MetaMask’s] move seems an acknowledgment of that reality.”
Sebastian Sinclair and Andrew Hayward edited this book