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What is and what is the function of Metamask?

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MetaMask It is a wallet for Ethereum that can be installed for free in many desktop browsers or in beta for iOS and Android and, taking into account its importance to interact with dApps, we have created a complete guide.

Ethereum is designed to allow the execution of the code necessary to execute dApps, which are the decentralized applications in the blockchain that will form the web3. These applications are similar to the applications available on smartphones and can be used for a variety of purposes, such as decentralized exchanges, financial instrument management, transaction anonymization, gambling and gambling, and many other things.

Dappradar or State of the Dapps are websites that allow you to discover the dApps available in Ethereum.

However, to use these dApps and interact with them, it is necessary to use a dBrowser app like MetaMask.

What can MetaMask be used for?

The purpose of MetaMask is to simplify the interaction with the Ethereum blockchain.

To summarize, MetaMask can be used:

  • As a common wallet to send and receive Ether, Ethereum's native currency;
  • To administer ERC20 tokens;
  • To connect directly to decentralized exchanges (DEX) without having to create new addresses;
  • To use Ethereum dApps (for example, Ethlend, MakerDAO, KyberSwap, etc.).

MetaMask news

The popular dApp browser has recently launched a competition In GitHub with a prize of 20 Ether, the current exchange rate is around 3000 euros, for the team that creates the best standard for meta transactions.

Meta transactions are a way to overcome the problem faced by new Ethereum users: after the creation of the wallet, users have an address with a zero balance. To avoid spam on the network, Ethereum requires that each account have a minimum balance to pay the transaction fees, necessary for any interaction with the network.

This represents a strong obstacle to the use of dApps: to have some ETH in the wallet, the user must access an exchange with all the necessary verifications, it is certainly not a quick procedure.

In addition, there may be someone more willing to pay network fees, such as the dApp developer or a hypothetical DAO that promotes network adoption. This third-party transaction fee payment model is known as metatransactions, as described in the Austin Thomas Griffith blog.

«Users don't care about decentralization or private keys; they care to use their Dapp to do something important for them ».

The adoption of the Ethereum blockchain and its popularity is also a problem felt by MarketingDAO, the organization established in Devcon of Ethereum last October and composed of more than 50 marketing experts, designers and communication professionals with the clear objective of make Ethereum more popular.

The entry What is and what is the function of Metamask? It was first published in Crypto Report.





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