Consensys is preparing to release MetaMask Snaps, a feature that aims to transform the popular crypto wallet into a cross-chain decentralized application (DApp) store.
The move was revealed by Simon Morris, Consensys Head of Strategy, during an interview at Korea Blockchain Week.
MetaMask Snaps aims to enhance the Web3 wallet's functionality by allowing third-party developers to create DApps, or Snaps, that can be integrated into the wallet. Morris likened the upgrade to an "Apple App Store for the crypto wallet," indicating that Snaps would undergo rigorous security checks and whitelisting processes conducted by Consensys developers for the initial rollout.
Eventually, the plan is to shift to a more permissionless framework, akin to releasing web applications.
One of the defining features of Snaps is its cross-chain functionality, which Morris said would make MetaMask compatible with non-Ethereum Virtual Machine (EVM) chains like Bitcoin, Solana, Avalanche, and Starknet.
“MetaMask starts with a massive assumption there’s going to be an EVM or something very like Ethereum, [so] what we’re targeting for the first release is making MetaMask interoperable with other non-EVM chains.” Morris said.
The Snaps feature aims to address another critical issue: the lack of transparency and clarity in the transaction confirmation process. Morris acknowledged that users often find the process intimidating and confusing. He indicated that upcoming Snaps would help to make transactions and smart contract assessments more transparent to the end-user.
Additionally, Snaps will facilitate direct communication between DApp developers and their users within the MetaMask ecosystem. This will negate the need for users to visit external websites or social media accounts to receive updates from a particular project, creating an internal communication layer within the wallet.
This announcement comes on the heels of MetaMask's recent introduction of a "sell" feature, which allows users in the United States, United Kingdom, and parts of Europe to directly exchange Ether (ETH) for fiat currency, which can be sent to a bank account. Earlier in May, the wallet has also introduced ETH purchases via PayPal. The MetaMask Snaps feature is expected to roll out within Q4 2023.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
