Blockchain software technology firm ConsenSys continues focusing on expanding blockchain interoperability by presenting a brand new tool towards the MetaMask wallet.
Metamask users are now able to bridge across multiple blockchain systems using MetaMask Bridges, which aggregates different blockchain bridges in one location, ConsenSys announced on November. 9.
MetaMask Bridges supports major blockchains suitable for Ethereum Virtual Machine (EVM), including Ethereum, Avalanche, the Binance Smart Chain and Polygon. The brand new tool enables bridges of Ether (ETH) and Wrapped Ether (WETH), major stablecoins and native gas tokens, the firm stated.
The brand new bridge feature enables Metamask users to maneuver tokens in one blockchain network to a different without getting to complete research to locate and select a dependable bridge.
“There are a lot of different bridges available, each supporting various systems and tokens,” MetaMask Bridges product manager Angela Potter told Cointelegraph. She noted that bridge costs, speed and security qualities vary so much from one bridge to a different, requiring users to by hand check lots of data every time before proceeding having a bridge.
“MetaMask Bridges has curated the bridges that people believe are probably the most decentralized and secure, and from individuals, will recommend the right one for that user’s specific route,” Potter stated. She added that MetaMask Bridges picks the bridge using the best cost automatically, but users may also see time estimates and select the fastest one when they prefer.
The brand new bridge solution will come in beta to any or all MetaMask users through the Portfolio Dapp, a brand new decentralized application (DApp) allowing users to see multiple MetaMask accounts as well as their assets in one location. Launched in beta in September 2022, the Portfolio Dapp now also enables users to bridge between systems inside a couple of simple steps described by MetaMask.
“MetaMask isn’t charging any extra charges throughout the beta period, and bridging is restricted to $10,000 per transfer,” Potter noted, adding that ConsenSys is yet to create a period for that general audience release.
Launched in 2016, MetaMask is really a major software cryptocurrency wallet created for the Ethereum blockchain. Because the wallet is automatically centered on Ethereum and EVM-compatible systems, still it doesn’t offer the world’s greatest cryptocurrency, Bitcoin (BTC).
Based on the MetaMask Bridges executive, Bitcoin integration isn’t a priority for that platform soon. However, MetaMask users could connect DApps to blockchains like Bitcoin by utilizing MetaMask Snaps, or tools allowing users to personalize MetaMask wallet, Potter told Cointelegraph, stating:
“Some of the particular Snaps allow DApps to connect with Bitcoin, Solana, and Filecoin. Any DApp can use a “snap” once deployed, meaning EVM-compatible DApps have access to the Bitcoin network with the enabled ‘snap.’”
As formerly as reported by Cointelegraph, ConsenSys planned to invest $2.4 million yearly to finance its recently launched MetaMask Grants DAO targeted at driving further growth and development of the Web3 ecosystem. MetaMask global product lead Taylor Monahan stated the platform may also continue to pay attention to decentralized development like a catalyst for more growth.