MetaMask Unveils New DApp Features
The MetaMask crypto wallet welcomes a new feature after the blockchain software firm, Consensys developed an interoperability tool for blockchain.
Users on the MetaMask platform can now move their tokens across several blockchains using the MetaMask Bridge. The system aggregates several bridges by streamlining blockchain networks in a single place, according to a Consensys press release on November 9.
Moreover, the MetaMask Bridge is compatible with most blockchains, like the Ethereum Virtual Machine (EVM), BNB Smart Chain, Ethereum Avalanche, and Polygon.
In addition, it allows the seamless bridging of Ether and Wrapped Ether (wETH), some selected stablecoins, and gas tokens, per the company’s statement.
With the new bridge capabilities, users can move their tokens from one blockchain network to another without further research to determine the right bridge.
In a recent interview, Angela Potter, MetaMasks’ products manager, revealed that different bridges exist “out there” that are compatible with various networks and digital coins.
However, she added that the bridge fees, speed, and security systems vary from protocol to protocol. As a result, Angela emphasizes the need for users to manually assess tons of data each time before considering whether to start using a bridge.
The manager stated that:
“MetaMask has simplified the bridges considered to be the most decentralized and secured and will point users to the best depending on their specific needs.”
According to Angela, MetaMask selects the best bridge by default based on cost. However, users can also view the time estimate and choose the right one to suit their needs.
Available In Beta
The new beta version is available to all MetaMask users via the decentralized application (DAapp), also known as Portfolio Dapp. This DApp will allow users to view multiple accounts on the MetaMask platform alongside their assets.
MetaMask launched its beta mode in September, with the Portfolio DApp enhanced to allow seamless movement of tokens from one blockchain network to another.
“The company has a zero fee because it is in the beta phase,” said Potter. However, the costs for bridging stand at $10,000, and Consensys is yet to disclose the schedule for the release of the features.
MetaMask was established in 2016 as one of the leading crypto software wallets designed for the Ethereum blockchain ecosystem. By default, the wallet is an Ethereum-based protocol. It, however, does not support the top crypto asset, Bitcoin.
The product manager of MetaMask Bridge revealed that Bitcoin integration is currently not a priority for the firm in the future. But MetaMask users can link their DApps to Bitcoin via the MetaMask Snaps or other tools designed to allow them to customize their wallets.
According to multiple media reports, Consensys has an annual plan to spend $2.4 million to fund the newly launched MetaMask Grant Decentralized Autonomous Organization (DAO). The move seeks to drive further development of the Web3 space.
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