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ConsenSys Analysing To Store Users’ Data Just for 7 Days

Author

Jonathan Gibson

Tags

Reading time

3 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

3 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

3 mins
Last update

Metamask

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ConsenSys is considering storing users’ data just for seven days according to the company. The comments come after MetaMask released its data collection information a few days ago. The company has also received a lot of backlash from the entire crypto community. This privacy update was released by MetaMask a few hours ago. 

ConsenSys to Store Users’ Data for Just 7 Days

In a recent Twitter thread, MetaMask explained that they work with Infura in order to help users connect and interact with the blockchain. At the same time, they mentioned that there are two main activities: read and write activities. A read activity is related to checking a wallet or an account balance while writing activities involve making a transaction on the blockchain. 

When a user performs a read activity MetaMask mentioned that they don’t store this information. The same happens for MetaMask. However, for write activities, Infura gathers information from users, including IP addresses, which is important to “ensure successful transaction execution.”

The company wrote on Twitter that IP and wallet address data related to a transaction are not stored together. In addition, they say that it is not possible for them to associate products and systems with all the data that they hold. But the important thing that they said is related to how they are reducing the number of days in which they store the information from users. 

About it, MetaMask wrote:

“One change we are working on is narrowing this window [of data collection] to 7 days and we will add these retention policies to our privacy policy in an upcoming update.” 

Let’s not forget that MetaMask is among the most popular wallets in the cryptocurrency market. This is because it was very useful to engage with multiple protocols, including Decentralized Finance (DeFi) apps and other decentralized applications (dApps). 

Furthermore, MetaMask is very easy to use and set up, as it does not require users to download any additional software to their computers. It can be used directly from a browser, meaning that it was made especially for users to use and engage with multiple protocols and blockchain networks. Therefore, it became a very useful wallet for individuals from all over the world. 

With all the recent information about MetaMask and its privacy policy, the company decided to release an update about it. The goal is to shorten the time they hold users’ information in order to avoid any future problems with crypto users. Let’s not forget that investors and individuals in the crypto industry care about their privacy and how firms manage their data, especially when it comes to handling digital currencies and associating payments to IP addresses. 

In the Twitter thread, MetaMask informed that there will also be other updates to their product so as to offer better solutions to users. Some of these improvements include the EIP-3085, and revising the custom RPC selection interface to make it more user-friendly. 

Users that want to get more information about the next updates can get access to this link.