Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure steadfast Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The terms Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition volition “further amended the information of each the products.”

Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask successful the Future

Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released connected Tuesday. The woody aims to fortify the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger betwixt the 2 Ethereum interfaces volition “provide users with a heightened acquisition that is adjacent much extended and secure,” according to Consensys.

Consensys is an Ethereum bundle institution led by 1 of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 cardinal monthly progressive users (MAUs) is owned by Consensys. In mid-December 2021, Consensys revealed a rollups scaling solution with the payments elephantine Mastercard. Dan Finlay, co-founder of Metamask believes that combining Mycrypto and Metamask volition springiness ethereum users a robust wallet interface.

“Mycrypto has consistently been 1 of the astir reliable and intercompatible wallets successful Ethereum, often shipping cutting-edge Ethereum features up of different wallets, portion Metamask has focused connected general-purpose dapp interactions,” Finlay said successful a connection sent to Bitcoin.com News. Finlay added:

With our talents combined, and our beardown consciousness of shared morals and goals for this ecosystem, I deliberation we’ll beryllium capable to supply a wallet acquisition that is overmuch much capable to assistance its users marque the champion decisions done this rapidly evolving Web3 wallet landscape.

Web3 Wallets From Alternative Chains Nip astatine Metamask’s Heels, Consensys Believes ‘Mycrypto Wallet Will Make Rich Integrations successful Metamask Possible’

While Metamask has been wide fashionable among not lone Ethereum web users but those leveraging cross-chain exertion arsenic well. However, galore different blockchain’s and their Web3 wallets are starting to nip astatine Metamask’s heels. Wallets specified arsenic the Binance Smart Chain wallet, Keplr, Terra Station, and Phantom. The Solana-based Phantom wallet revealed connected January 31, it raised $109 cardinal successful a Series B led by Paradigm.

The alternate blockchains leveraged by the aformentioned Web3 wallets are each supported by Metamask arsenic well. Consensys believes the acquisition of Mycrypto volition “make it imaginable to person much affluent integrations successful Metamask.” For now, Mycrypto and Metamask volition stay abstracted entities nether the Consensys wing.

“With the accelerated maturation of the ecosystem and products racing to vessel slick features, it is imperative that the starring wallet continues to physique foundational and unafraid self-custody tools that empower the user,” Taylor Monahan, laminitis and CEO of Mycrypto said. “Combining our years of acquisition and shared values allows america to accelerate our ngo of providing a mode for users to afloat recognize their self-sovereignty.”

What bash you deliberation astir Consensys acquiring the Mycrypto wallet? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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