Metamask Announces Increasing Bitcoin Support

Written by C, Fiona

Last updated: 2022-04-20

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Metamask said its new “snaps” will enable users to enjoy the functions of other networks, including bitcoin.

The leading Ethereum focused cryptocurrency wallet Metamask is expanding its services to provide support for other networks. The software encryption wallet developed by consensys is launching the Metamask snaps function to support the leading cryptocurrency bitcoin (BTC). On twitter, Metamask posted a YouTube video showing the step-by-step application and settings of snaps.

MetaMask integrates Bitfinex Pay to meet the developing demand for crypto payments – CoinLive

Metamask Bitcoin Characteristics

According to Metamask, snaps is a system that allows anyone to safely expand the functionality of Ethereum based cryptocurrency wallets. In addition, Metamask explained.

“Snaps runs in an isolated environment, and they have access to a limited set of capabilities, depending on the permissions granted by the user during installation. Like Metamask’s Ethereum provider RPC API, snaps uses json-rpc to communicate with Metamask.”

Some basic functions of snaps include adding new APIs to Metamask and supporting different blockchain protocols. In addition, “snap” can also use internal APIs to modify existing functions and create Web3 end-user experience.

Metamask also provides prerequisites — including a new chrome or Firefox browser to use its snaps feature. In addition, the cryptocurrency wallet provider also introduced its Metamask flash as an independent developer extension. This extension provides access to additional APIs with the ultimate goal of maximizing developer control. According to Metamask, the feedback obtained from the flash function is incorporated into the release of the main platform.

Metamask said that snaps is the first feature launched on flash.

Metamask Organization

In addition, Metamask is also integrating with some famous cryptocurrency hosting institutions to expand its products. This will see the launch of their popular institutional version of Ethereum based wallet, known as Metamask institution (MMI).

The four major digital currency custodians are hex trust, paraffin, Gnosis safe and gk8. In addition, like the snaps function, the Metamask institutional initiative is part of the overall positive expansion plan of the platform this year.

MMI will provide decentralized autonomous organizations (Daos) with the management tools needed to participate in defi activities. In addition, the institutional version will also grant enterprises access to defi and Web3 while meeting their compliance needs.

According to Harriet browning, head of EMEA (Europe, Middle East and Africa) business of consensys, Metamask’s parent company.”[Metamask Agency] enables a large number of different user profiles such as funds, exchanges, traditional institutions, enterprises and Dao required by cryptocurrency, so that they can participate in a safe and well managed risk management framework.”

In addition, browning also explained the main differences between the main web browser plug-ins and wallets of MMI and Metamask. According to browning, this difference is related to asset management, which treats assets stored in Metamask’s main wallet as unmanaged assets. At the same time, assets stored in Metamask institutions are managed.