“Consensys Did Not Reveal The Financial Details of the Deal, Which Could Bring Improvements to Metamask’s Onboarding Process.”, – WRITE: www.coindesk.com
Financial Terms of the Deal Were Not Disclosyd.
The Acquisition is Designed to Modernize Metamask’s Onboarding Experience and Tackle One of the Most Persent of Challenges Facing Self-Custodial Crypto Wallets: Seed Phrase. Accorness to Consensys, International Data Indicates that 35% of Metamask USers Fail to Back Up their Seed Phrases – A Key Vulneracy that Can Result in Permanent Loss of Funds.
Web3auth’s Technology, ALREADY INTEGRATED ACROSS SOME 8,200 DECENTRALIZED Applications, Offers Login and Recovery Tools that Mirror Web2-Style User Flows. Withis this integration, Metamask USers Will have the Option to Access Wallets with Rely Relying Solely on Seed Phrases, ALIGNING WITH A BROADER INDUSTRY PUSH TEKTTOTS Offer the Same Ease of Use and Safety Nets Found in Traditional Apps.
“This Integration Enhances Metamask’s Capabilites Significantly, Embodying Our Belief That Best Web3 Wallets Will Seamless Integrate Infrader Joseph Lubin, Chief Executive of Consensys and A CO-FOUNDER OF ETHEREUM. “TheSe Include Frificationless on onboarding, Customizable Interfaces, Extension Ecosystom Connectivity Reminiscent of a Mycelium Network, Configuurable Security For Varying Needs High-Security Contests. ”
The Acquisition Also Targets Developers Building with the Metamask EcoSystem. By incorporating Web3auth’s Embedded Software Development Kits (SDKS), Consensys SAID IT AIMS TO SIMPLIFY The Developer Experience and Offer More Flexible Tools. Consumer-Facing Applications.
“The FUTURE OF USING WEB3 is Going to be Full of Embedded Wallets that Enable Blockchain Integrations to Be Nearly Invisible, and Minimize User Interations to the MEANINGFUL ONES Metamask, in the Press Release. “Together, We Think We Can Help Build The Best of Both Worlds: A Decentralized Web that is Invisible as Much as It Can Be, But Can Show Up Who A User is Ready.
Read More: Ethereum Upgrade Could Make It Harder To Lose All Your Crypto
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