WEB3
by BSCN
September 12, 2023
MetaMask Snaps, the public version launch for which was announced on September 12, stands to revolutionize the way in which users interact with the blockchain ecosystem, allowing external developers to build on one of the most-used applications in the industry.
The public release of MetaMask’s Snaps feature could usher in a new era of innovation in the blockchain industry that extends beyond the creation of new and exciting applications, and enables the open source development of the world’s most prolific self-custody crypto wallet.
Until very recently, Snaps has only been available as pre-release software, but what is Snaps, and what does it have to offer?
According to MetaMask’s documentation, “is an open source system that allows anyone to safely extend the functionality of MetaMask, creating new web3 end user experiences”.
In plain English, MetaMask Snaps allows external developers to build features for the MetaMask application, for the first time ever, with said features standing to offer a diverse range of new capabilities to the existing wallet.
Until Snaps, all of MetaMask’s capabilities, features and developments have been driven by an internal development team in Consensys. Though MetaMask’s existing state has proved effective, with the wallet reaching 100 million users in 2022 according to the project, a small team of developers is simply unable to create and advance MetaMask at the rate that the entire cryptocurrency ecosystem is capable of.
Snaps is the point at which MetaMask shifts from being a privately developed product to a hotbed for innovation, forwarded by all developers with an inclination. Though MetaMask, even today, exists as the most popular wallet in the industry, Snaps could compound MetaMask’s existing edge, even expanding its offering across non-EVM chains and rendering the wallet practically unassailable from a competition perspective.
The possibilities that Snaps facilitate are myriad and extensive. Snaps’ documentation points to use cases such as:
Unsurprisingly, the impact of the above features, and many more, cannot be overstated. Criticism around complex and unintuitive UI/UX has long plagued the cryptocurrency industry, and the wallet vertical in particular, and this could be set to change with the full release of Snaps.
In addition, the limited multi-chain offering of MetaMask’s application has long provided a bottleneck to the wallet’s user base expansion. With the possibility of non-EVM support, this may well be about to change, with Snaps providing a way to interact with non-EVM ecosystems via a platform that many users are already familiar with.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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