What is MetaMask Digital Wallet?

What is MetaMask Digital Wallet?

Founded by Aaron Davis in 2016, MetaMask is a large global community of developers and designers who want to make the world a better place with blockchain technology. MetaMask is a crypto wallet in general, and you can access blockchain applications in seconds thanks to this wallet.

You can also swap with other tokens defined in the Ethereum network, especially ETH, and initiate value transfer transactions to the account addresses of other MetaMask wallet users.

If you are using crypto assets for investment and trading purposes, you must have a wallet. MetaMask is the most popular digital wallet thanks to its completely free, easy-to-use and setup features. To explain with an example, money transfer (EFT/wire transfer) transactions from banks are the same as asset transfers in MetaMask. You can think of account addresses as IBAN numbers of accounts in banks.

MetaMask announced in early October that it had reached 1 million active members worldwide. This shows that MetaMask has grown by 400% compared to last year.

The biggest factors behind this are that it allows users to buy and securely store ETH, browse DeFi protocols and exchanges, and trade easily and securely with major DeFi and NFT such as Uniswap, Maker, Aave, Curve, Yearn and Rarible directly with their wallets. access their platforms.

Another feature of MetaMask is that you can store your own data. Crypto exchanges are organizations that provide services such as buying, selling, transferring, and custody of digital value assets. The data on these exchanges are stored in the organizations’ own databases.

As a result of any cyber attack of these organizations, there are many threats such as losing your valuable assets or leaking your own personal data. Metamask allows you to store your own data with the encryption method that has 14 different phrases, that is, word combinations, which it produces with your information.

SEE ALSO: What Can Be The Future Of Blockchain Technology?

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Caroline Tetra

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