Metamask is known for facilitating the access to Ethereum-based wallets. Since Ethereum became popular, Metamask became quite ubiquitous for crypto users. It works as a mobile app and as a browser extension too. Until now, it has been quite exclusive to Ethereum, but not anymore. This is because the Solana users will also be using Metamask.
Big News For Solana Users
Solflare co-founder Filip Dragoslavic shared this significant piece of news. For the uninformed, Solflare developed the Snaps. Recently, Solana became a major player in the emerging Web3 and NFT space. It uses a Proof-of-Stake mechanism to execute smart contracts. In the last few years, this has become quite popular among DeFi enthusiasts. Its scalable structure became perfect for many types of decentralized applications.
From NFTs to gaming, payments, and DeFi solutions, it is useful for everything. When such a high-utility protocol becomes more accessible, things get better for everyone. Solana’s accessibility on MetaMask will do that. In his statement, Dragoslavic said that Solana Wallet will launch on Metamask Snaps.
What is New in the Metamask Snaps?
MetaMask Snaps is a new system that comes with additional enhancements. It comes with a new set of APIs and supports new blockchains. Moreover, it inducts a number of notification systems alongside new transaction security providers. In terms of scalability and security, it exceeds its previous versions.
Coming back to the news, it is certainly a big update for both services. Notably, ConsenSys engineers have developed this new version of MetaMask. It would enable the users to manage their SOL tokens and Solana-based NFTs too. On top of that, Solana dApps will also be available on it. Dragoslavic also stated that the existing Metamask users won’t have to install a new version or update. Their old wallet will give them all the new functionality.
A Big Step For Solana
Dragoslavic underlined the significance of this event. He said that Metamask has a huge user base of 100 Million. It would give a remarkable boost to the vibrant ecosystem of Solana. According to him, it could be a game-changer for Solana and its Web3 endeavors. Therefore, the community is gung-ho about this. It is a new achievement that lets them reach so many other people in the crypto space.
What Does this Mean for the Crypto Industry?
Solana became a frontrunner in the DeFi space with innovations in Web3. Hence, its wide reach will definitely benefit the whole domain. The crypto users will be able to access the Solana-based NFTs and other solutions very easily. Furthermore, Solana is the best choice for many decentralized game developers. With access to Metamask, these projects will be more accessible to people.
Snaps have emerged as a big support for the crypto network. In the future, it could play a bigger role in bridging gaps between different blockchains. Through this solution, it gets easier for the networks to expand their reach.
It enhances their functionality and improves the communication channels. Therefore, the update is not just important to Solana but to the entire crypto space.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/09/13/solana-is-coming-to-metamask-snaps-a-new-user-base-set-to-unveil/