ConsenSys’ this move will bring more exposure to Metamask wallet

On Tuesday, Ethereum blockchain-based software service provider company, ConsenSys, announced the acquisition of Ethereum wallet MyCrypto. The software company has plans to further merge ethereum based wallets to its own web three wallets, Metamask. The latter has a market leader profile, and combining the efforts of Metamask and MyCrypto will help ConsenSys improve its security of products and better services in terms of user experience over desktop, browser extension, mobile application and browser wallets. 

MetaMask and MyCrypto

From the start, Metamask has focused on mainly decentralized application interactions, and soon it has become the world’s leading crypto wallet. It was developed by software service provider company ConsenSys and has more than 21 million monthly active users using wallets services through extension and mobile applications. Its addition with MyCrypto will boost its engagement and use case to another level. 

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MyCrypto launched in 2015 on the Ethereum network, and since then, it has been among the most stable and compatible wallets on the network. Its open-source interface allows users to manage their Ethereum accounts with safety and easy accessibility. 

Both the platforms have their values and workings, which are similar to many extents. After their merger, users will have the best of both worlds; their joint venture will help expose the wallet to more users with extensive security. 

Co-founder of Metamask wallet Dan Finlay said their combined talents and a strong sense of similar ethics and aims for the ecosystem. He further said that together they would be able to give wallet experience such that it will be able to help users make the best decision using their fast-growing Web 3 wallet landscape. 

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The CEO of MyCrypto, Taylor Monahan, said that the rapid growth of the crypto ecosystem and digital asset products is moving towards providing top-notch services. It is critically important that the top wallet continues to form secure and foundational tools for self custody that strengthen users. Further, Taylor stated that combining their years of shared values and experience enables them to accelerate their mission of providing ways to users to make them realize their self-sovereignty. 

The team behind both platforms, MetaMask and MyCrypto, have known each other and have been colleagues at Ethereum since 2016. They have worked together and sailed through various fluctuations in market cycles, and collaborated to provide information and knowledge to the Ethereum community on best security practices. Engineers of both companies helped to integrate and maintain services like phishing detection of Metamask, which uses CryptScamDB for this regard that is MyCrypto’s dataset. Now their official merger will be hoping to give more fruitful results in upcoming times.