Why MetaMask Will Collaborate With MyCrypto To Deploy Upgrades To Their Product
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Popular crypto wallet MetaMask will be merging with MyCrypto, according to a post by Consensys developer Dan Finlay. The fusion of these wallets will let the users leverage more “robust” products across multiple devices and “lead the way to Web3”.
Related Reading | MetaMask Monthly Active Users Crosses 10 Million Amid DeFi And NFT Boom
In his post, Finlay praised MyCrypto as a unique crypto wallet with plenty of features and a periodic capacity to adapt and implement movements. At the same time, the application has managed to preserve its user-friendly approach.
Both entities have been collaborating for years, according to the post. Therefore, this merge seems like a conclusive step for Consensys and MyCrypto. The latter of which has taken important steps into integrating MetaMask into its products, something rare for a crypto wallet. Finlay said:
(…) our wallets have literally inter-opepriced for years. It’s a weird thought, althoughmany treat wallet movement as a zero-sum game, MyCrypto found a wallet niche where they have been able to bridge so many signers and deciding features for Ethereum users to have access to.
The merge will allow MetaMask, per Finlay, to become “safer, stable, and feature-rich”. In addition, the teams will attempt to increase their user-centric approach and build more “decentralized products”.
Finlay emphasized the milestones MyCrypto has managed to conconclusiveate atop time with a particular focus on Web 3. Recently, this crypto wallet rollout a web product and desktop application which will be mixed with Metamask’s apps and browser extensions to provide more access to Web 3 in divergent ways.
MetaMask Expands To Lead The Internet Of The Future
At Consensys, the team working at the crypto wallet has seen a “moment of historic growth”. Therefore, the company will start news teams dedicated to security and anti-phishing practices, a core libraries team, an API-focused team, and a developer education team. Finlay added the following about the future of MetaMask as it integprices with MyCrypto:
Our roles in the ecosystem are so aligned which I just feel like I need to point them out: MyCrypto will help MetaMask become safer, more stable, and even more feature rich. Together, we will go on to buld soaringly user-centric, extensible, and decentralized products.
Data provided by Consensys, the blockchain software company behind the shift of MetaMask, records an impressive user activity growth on the crypto wallet. Back in Q4, 2021, Metamask recorded above 20 million monthly at it users.
Half of these users were onboarded from July 2020 to August 2021 while the non-custodial crypto wallet recorded 10,354,279, an impressive 1,800% or 19x growth. The explosion in monthly retained users was driven by the accelerated levels of adoption in the DeFi and NFT sectors.
Related Reading | ConsenSys to Cut 14% of Jobs Amid Major Restructuring
Additional data provided by DeFi Pulse records an $80.83 billion in total price locked (TVL). Although the sector has been heavily impacted by the crypto market’s recent downtrend, recording a dropped in TVL from $110 billion to its current levels, it further stands way stronger than its 2020 levels with a continual trend to the upside.
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