The launch of MetaMask Snaps brought expanded functionality to MetaMask wallets, allowing users to access different layer-1 blockchains without needing to install different extensions or wallet applications.
These features enabled the primarily Ethereum-based wallet app to become interoperable with other layer-1 blockchains, such as Bitcoin, Solana and Cosmos chains.
Snaps achieves this by deriving addresses from other blockchains, according to Christian Montoya, the global product lead for MetaMask Snaps.
“We can derive from a Cosmos address, so rather than going to a bridge that allows you to transfer tokens from Ethereum to Cosmos, you can just do that within MetaMask and the Cosmos Snap that you install into MetaMask,” Montoya told Blockworks in an interview. “The addresses you’re using to bridge from one way to another are within MetaMask and fully self-custodial.”
As a result, Snaps could expand cross-chain traffic by giving users simple access to bridges.
There are currently 36 open Snaps in Open Beta, and the Cosmos MetaMask Snap is one of them that has been made available during this time.
MetaMask is currently one of the most popular crypto wallets today. According to a report by CoinGecko, as of Aug. 1, 2023, a total of 22.66 million users had installed the MetaMask wallet. Making it the most used crypto wallet. Coinbase Wallet, the second largest wallet by installation, only had 11 million users.
“It gets rid of a few things like non-determinism, but it makes it much better suited for blockchain uses, and it was really the hardening in the ability to run third-party components that got [MetaMask co-founders] excited about it,” Tribble said.
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