Metamask Snaps.
Consensys, one of the biggest developers for the Ethereum blockchain and the creator of the popular MetaMask crypto wallet, said it’s releasing a major new feature called “MetaMask Snaps,” allowing users to choose from a variety of app-like or add-on customizations for their browser extension.
According to the company, Snaps are “new features and functionality, created by third-party developers, that MetaMask users worldwide can install directly into their wallet.”
Previously, MetaMask users could only opt-in to new features built by MetaMask developers, but with this new development, users can now choose from a wider variety outside of the MetaMask landscape.
With the public launch, users will be able to choose from 34 Snaps, each providing various features such as clearer transaction insights, interoperability with non-EVM blockchains, and notifications that keep users informed on decentralized applications in their MetaMask accounts.
For example, Solflare, a crypto wallet provider focused on the Solana blockchain, is launching “Solana Snaps,” which will enable MetaMask users to manage their Solana holdings directly from their MetaMask accounts.
One example of the different types of Snaps that will be available is with Solfare, which will enable MetaMask users to manage their Solana holdings directly from their MetaMask accounts. MetaMask users can do this by connecting their wallets on any Solana app.
“Because of its different architecture, using Solana traditionally required installing dedicated wallets,” Solflare shared in a press release.
The snaps will be permissionless, meaning they do not need approval from MetaMask – unlike the way Apple vets its App Store – and developers maintain ownership over the creations and over their code.
“With Snaps, I think what really makes it interesting is that it’s something that you couldn’t do before with a wallet,” Montoya told CoinDesk.“There’s just nothing like it.”
What is Metamask?
MetaMask functions as a browser extension, serving as an Ethereum wallet. This enables users to engage in transactions with various Ethereum addresses, thereby granting them entry into the realm of Web3, decentralized finance applications (dApps), and non-fungible tokens (NFTs). For a comprehensive understanding of Web3, we encourage you to visit our article, which provides a detailed explanation of Web3 and its counterpart, Web2.
Furthermore, users have the capability to link MetaMask with Ethereum-based dApps, facilitating the expenditure of cryptocurrencies within games and the exchange of assets on decentralized platforms such as Uniswap. MetaMask’s user-friendly interface and straightforward setup have attracted an impressive user base of 21 million monthly active users, making it a preferred choice for cryptocurrency novices.
Is Metamask wallet safe?
MetaMask’s Security Concerns
When considering whether to use MetaMask, it’s crucial to be informed about potential safety issues associated with the platform. One notable concern is related to IP leaks, as highlighted by a security analyst and cryptographer in 2022.
IP Leaks: The 2022 MetaMask Security Flaw
In the course of this year, a security expert identified a critical privacy vulnerability related to MetaMask, which involves user IP address leaks. This vulnerability emerges when a malevolent actor sends an NFT to users of a mobile MetaMask wallet, allowing them to access a user’s IP address. This vulnerability is made possible because MetaMask retrieves IP address data from a centralized server.
Should You Be Concerned About IP Leaks?
Yes, you should be concerned about IP leaks. The risks associated with IP address leaks are severe and often underestimated. Malicious actors can exploit this information to gather data such as your geolocation and frequently visited locations. This information can potentially be used for nefarious purposes, including physical attacks such as kidnapping, stalking, and identity theft. Additionally, users are at risk of having their cryptocurrency assets stolen.
It’s crucial for MetaMask users to stay vigilant, keep their software up to date, and exercise caution while using the platform to mitigate such security risks.
