MetaMask, the popular Ethereum wallet, is undergoing a major makeover, both in terms of its logo and its functionality, according to an announcement made by the team on Thursday.
In a recent conversation with Dan Finlay, co-founder of MetaMask, I gained some valuable insight into the significant changes that will be implemented in the crypto wallet. “It almost feels like closing Chapter Two on wallets,” Finlay said, indicating a new era for the wallet’s operation.
The Ethereum Pectra hard fork will enable MetaMask to modify its wallet so it will less frequently request users to sign something. This adjustment not only enhances safety but also improves the usability of the wallet, making it more convenient for users.
Finlay pointed out that the existing mode of operation for wallets can jeopardize security. He cited the recent Bybit hack incident, which was facilitated by a ‘blind sign’. “They were asked to sign a hash just blindly. And they did it. That’s just so deeply, fundamentally broken,” he lamented.
The new update will allow you to revoke permissions directly within your wallet. MetaMask also plans to abstract networks and gas, thereby simplifying its usage. Users will no longer be required to input obscure codes to add blockchains to their wallets.
“Users are still signing stuff they don’t understand. And if we want to make this like the rails of an actual functional economy, people need to actually get what they’re doing, and it has to be like at the deepest level,” Finlay emphasized.
MetaMask is also introducing gas-included swaps within the wallet, eliminating the need to add other gas tokens to the wallet to complete the swap. Next month, the wallet will also enable users to pay gas fees in any tokens they hold, further smoothening the transaction process.
The upcoming updates also include the option for multiple secret recovery phrases and the ability to synchronize your MetaMask profile across different web browsers and devices.
In terms of token management, the wallet will now display all your tokens in one place, irrespective of the chain they are on, similar to the Coinbase Wallet. Additionally, the wallet will filter out spammy tokens and other elements that clutter the view, improving the overall user experience.
“We’re in the, like, spam filtering, trying to filter sewage era of blockchain,” Finlay said. “I hope that people are going to notice like, hey, this, this actually works better.”
In an exciting development, MetaMask is also set to launch a Mastercard-powered credit card, akin to Avalanche’s Visa card. This card will allow users to connect their self-custody MetaMask wallet and spend the crypto directly, adding another layer of convenience for users.
This major overhaul is a clear indication of MetaMask’s commitment to enhancing user experience while maintaining the highest standards of safety and security. The crypto community will undoubtedly watch these developments closely as these changes roll out.
