The popularity of Ethereum (ETH) in the crypto world is undisputed. It’s sparked an entire ecosystem off of it, including popular wallets like MetaMask.
ETH is the native coin of the Ethereum blockchain which has won the love of decentralised application developers. Currently trading at $219 and with a market capitalisation of $22.6 billion, ETH needs a dedicated wallet that accompanies such popularity.
MetaMask is a dedicated ETH wallet that offers unprecedented security and has gained positive reviews from its users. It’s something that has led to an increase in the number of downloads as the wallet recently hit1.3 million downloads.
The enormous amounts of downloads reflect demand for ETH. It also reflects increased trading activity which is likely to push the price of ETH up.
Currently, the wallet is interfaced with the Chrome browser and only accessible through a computer. However, a mobile version of the wallet will soon be available. The Chrome extension provides a connection between the browser and the Ethereum platform.
Additionally, the browser extension allows for the running of decentralised applications without the need of the entire functionality of the Ethereum blockchain. It eliminates the need for excessive computing power.
The love for the MetaMask wallet is based on some concrete reasons. For example, the wallet is compatible with the most popular hardware wallets – Ledger and Trezor. Moreover, the wallet is easy to install, operate, and its identity recognition features are highly secure.
In the crypto world, the rule of thumb is always to store the access keys preferably in a cold wallet. MetaMask developers understand this, and they have enabled a feature in the wallet that makes the process simple and secure.
The wallet’s developers are also continuing to add new features. Including the ‘privacy mode’ which allows internet browsing without leaving a trail of your account details.
The developers also have big plans for 2019. Gnosis SAFE and Mustekala are two highly anticipated projects that will be completed next year.
Mustekala will concentrate on minimising the wallet’s reliance on centralised connections by enhancing P2P client connections for browsers.
Also, MetaMask is keen on accommodating all Ethereum-compatible blockchains.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.