Consensys, Ethereum -Infrastructure Company behind the popular Metamask Wallet, said it has acquired Web3Auth, a provider of wallet infrastructure, in a step aimed at improving usefulness and developer’s accessibility across its platforms.
Financial conditions for the agreement were not revealed.
The acquisition is designed to modernize Metamask’s onboarding experience and tackle one of the most persistent challenges that self-defense cryptor wallets face: seed expression. According to Consensys, internal data indicates that 35% of metamask users do not have a backup of their seed phrases – a key ulcer that can result in permanent loss of funds.
Web3Auth’s Technology, which is already integrated across approx. 8,200 decentralized applications offer login and recovery tools that mirror web2 style user currents. With this integration, Metamask users will have the opportunity to access wallets without relying exclusively on seed phrases and adapt to a wider industry push against “Account Ebstraction” -the idea that crypto -cartoon books should offer the same ease of use and safety nets found in traditional apps.
“This integration improves Metamask’s capabilities significantly and constitutes our belief that the best web3 cartoons seamlessly integrate infrastructure that supports a wide range of strengthening features,” said Joseph Lubin, CEO of Consensys and a co-founder of Ethereum. “These include friction -free onboarding, custom interfaces, comprehensive ecosystem compound reminiscent of a mycelium network, configurable security for different needs and maximum protection in high -security contexts.”
The acquisition is also aimed at developers that build within the metamask ecosystem. By incorporating Web3Auth’s Embedded Software Development Kits (SDKS), Consensys said it is aiming to simplify the developer experience and offer more flexible tools to integrate blockchain into consumer -facing applications.
“The future of using web3 will be full of embedded wallets that allow blockchain integrations to be almost invisible and minimize user interactions to the meaningful,” Dan Finlay co-founded 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 emerge when a user is ready to exploit his power.”
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