Metamask Introduces “Snaps” Feature for Non-EVM Chains like Solana
Blockchain software company Consensys, owner of the crypto wallet Metamask, has launched a new feature called “snaps.” This feature allows users to interact with non-EVM compatible chains, such as Solana, within the Metamask wallet. Previously, different cryptocurrencies were fragmented across various networks and wallets, but with snaps, users can now store and exchange different types of coins directly within Metamask. Snaps also enable notifications for decentralized apps (dApps). Although the process of interacting with these protocols is currently complex for novice users, the Metamask team is working to make it more user-friendly and permission-free. The launch of snaps is still in beta, and improvements will be made to enhance convenience, intuitiveness, and security.
Solflare Integration for Snaps
Solflare, an extension for the Solana blockchain, has announced its integration with Metamask via snaps. This integration allows users to natively exchange SOL and other crypto assets from Solana within the Metamask wallet. Solana-based NFTs can also be held and managed directly on Metamask. The integration of Solflare and snaps is expected to be a significant development for the industry, considering Metamask’s large user base of over 100 million users. Previously, users of non-EVM compatible networks like Solana had to install separate wallets and manage assets across multiple extensions. However, with snaps, users can easily access and manage their assets within the Metamask wallet.
Expanding Interoperability with Snaps
Snaps not only support Solana but also other non-EVM compatible chains such as Starknet, Cosmos, Sui, Aptos, Tezos, Algorand, and even Bitcoin. This means that Bitcoin can now be natively stored and exchanged in an EVM wallet without relying on bridge solutions. With snaps, users can trade BTC with ETH and other coins in a decentralized and native way, without the need for traditional centralized exchanges. This advancement in blockchain interoperability has the potential to boost the growth of Web3 and DeFi, surpassing the capabilities of centralized platforms.
Hot Take: Snaps Revolutionize Crypto Wallet Interoperability
The introduction of snaps by Metamask marks a significant milestone in the world of crypto wallets and interoperability. With snaps, users no longer need to switch between different wallets and networks to store and exchange their assets. The integration of Solflare and snaps further enhances the convenience for Solana users. Additionally, the expansion of snaps to support various non-EVM compatible chains, including Bitcoin, opens up new possibilities for native and decentralized trading. As snaps become more user-friendly and permission-free, the adoption of Web3 and DeFi is expected to accelerate. This innovation highlights the potential of blockchain interoperability and signals a shift towards a more decentralized and interconnected crypto ecosystem.
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