According to reports from CoinDesk, MetaMask may add Bitcoin support within the next month. Although there is no official statement yet, CoinDesk reports, based on two people with direct knowledge of the matter, that Bitcoin is coming to Ethereum Stalwart MetaMask. One of the two people who spoke to CoinDesk said that Bitcoin support could be added within the next month, while the other said that it is not yet finalized, but the features may be limited at first and may be expanded over time.
MetaMask is the most popular wallet by number of downloads, with over 22 million downloads, and millions of users' gateway to the Web3 world of decentralized apps and non-fungible tokens, or NFTs. MetaMask primarily supports Ethereum, Ethereum Layer 2s, and Ethereum Virtual Machine (EVM) compatible networks such as Avalanche, Polygon, Optimism, and Arbitrum, but it expanded beyond the Ethereum ecosystem by including Snaps in September 2023. Additionally, MetaMask's core developer, Consensys, raised $450 million in Series D funding led by ParaFi capital, giving Consensys a valuation of $7 billion in 2022.
MetaMask is the most popular wallet that is constantly evolving and growing day by day, preferred by millions of active users. While MetaMask does not currently support Bitcoin directly, it uses an Ethereum-compatible ERC-20 token known as Wrapped Bitcoin (WBTC) to bridge Bitcoin to decentralized apps of Ethereum. However, it would be a turning point for it to directly support Bitcoin.
In fact, it was already expected that MetaMask would eventually add Bitcoin support, and MetaMask was already signaling this with the new features it added. And I think the fact that MetaMask will touch the Bitcoin bull will be an important development and a great innovation that will provide convenience for many users, including me. I hope this happens next month, but even if it doesn't happen next month, it will happen eventually.
Thank you for reading
@rtonline
Posted Using InLeo Alpha