MetaMask was launched in 2016 by Consensys with the main motive to ease access to decentralized applications including DEXs, staking opportunities in DeFi spaces, and online gaming platforms. This digital wallet is known for storing cryptocurrencies. Based on the Ethereum blockchain, it comprises more than ten million active people in the crypto community.
Today we are going to do a review on MetaMask and will know whether it is a secured digital wallet or not. However, the answer is yes, it does guarantee security and provides a beginner-friendly link between the web browser extension and the Ethereum blockchain. It also acts as a host network for numerous decentralized applications. Let us know more about MetaMask.
MetaMask: A secured digital wallet
People owning a MetaMask digital wallet have the benefit of storing Ethereum or any ERC20 tokens developed using the Ethereum blockchain network and utilization of digital assets with chosen dApp. At the time of the initial release of the MetaMask online wallet, it was accessible just as a browser extension using a Chromium-based web browser like Brave, Firefox, and Chrome.
At a time when there was major growth in the cryptocurrency and cryptocurrency wallet, MetaMask came up with an easier version with the release of a mobile application for both the users of iPhone and Android. This is to help people use the online wallet MetaMask extension with a dedicated on-the-go mobile app.
What sets MetaMask apart from other hardware wallets?
As we are discussing the MetaMask wallet, the one question that pops up in mind is what makes MetaMask distinctive from other hardware wallets is its encrypting feature. This is helpful in the safe storage of users’ private keys and seed phrases. They only have the onus to manage their independent seed phrases.
Even though the creation of MetaMask was done for only the Ethereum network, it also comes with a provision to be accessed on other different networks also. These include Binance Smart Chain and other testnets. MetaMask is known for providing flexibility to users who can transform from one mainnet network to the other with so much ease and convenience to link other hardware wallets.
3 major uses of MetaMask wallet
This is all the basic knowledge of the MetaMask wallet that you have been reading in this article. To gain more knowledge about cryptocurrency wallets and their types, you can flock to the Cryptoknowmics website. It is the best crypto guide where you can search for any topic like an immortal video game or immortal game funding, and so on.