With Snaps, the MetaMask wallet emancipates itself from Ethereum

Ethereum Editor Consensys announces the launch of theopen beta from MetaMask Snapsand extensions to customize the crypto wallet. Ambition: develop the ecosystem and access to new blockchain networks.

MetaMask is one of Consensys’ flagship products and the most widely used of the crypto wallets. The democratization of digital assets has largely contributed to its growth. The number of monthly users is expected to rise from 10 to 30 million between 2021 and 2022.

For the Web3 unicorn, the potential for development remains considerable. And to fuel the adoption of MetaMaskConsensys focuses on Snaps. The company has just announced that it is moving into the Beta open of its new “functionality”.

Snaps to boost wallet and ecosystem

The principle of Snaps is simple and can therefore be compared to plugins or downloadable extensions for major web browsers, such as Google Chrome or Firefox.

MetaMask Snaps allow users to add features and functionality to their MetaMask wallet,” describes the firm founded by Ethereum co-founder Joe Lubin.

To put it plainly, ” Snaps individual features created by third-party developers that MetaMask users can install directly in their wallet”.

Consensys and MetaMask conquer Web3

But these extensions are also a way for Consensys and its flagship application to conquer new markets. other networksbeyond Ethereum and EVM blockchains. The ambition is clearly stated.

Snaps can connect to blockchain protocols beyond Ethereum, show transaction insights, display notifications, add new privacy and identity features, and much more.”

The news is the development of the extension ecosystem for MetaMask, not monetization. Designing a store DApps like the App Store or Play Store is not on the agenda.

Consensys emphasizes that the use of the MetaMask Snaps is free, as is the installation of extensions. However, nothing prevents a developer from offering a paid service via an extension.

New features and security promised

This new feature could, of course, lead to fears of a slowdown in MetaMask development, with Consensys delegating, in a way, the creation of functionalities to third parties. Consensys is reassuring on this point.

“MetaMask will continue to develop new features “the company promises. What’s more, despite the appearance of plug-ins on Web browsers, their creators have not put an end to their development.

What about the security ? Plugging a plugin into your wallet can mean risks, for your data as well as your crypto assets.

Snaps operate in a sandbox environment and use a permissions model to protect your data and respect your consent. Snaps do not have access to your MetaMask account data. When installing a Snap, make sure you understand the permissions you are granting to stay safe,” details Consensys.

For security reasons, and as with other applications, installation should be carried out from a reliable source, here directly from MetaMask Snaps Directory. The available Snaps have been audited and are therefore certified.

Only authorized Snaps are available. A final precaution, however:

Note that this does not mean that these Snaps are free of bugs or vulnerabilities, only that their authors are not actively trying to rip you off.”

For the latest Crypto and Web3 news, visit RoyalsBlue.com on TwitterLinkedin, Google News, Facebook and Telegram