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MetaMask is a self-custodial wallet that serves as your gateway to blockchain applications and Web3. Here’s what you need to know:
Last updated
MetaMask is a self-custodial wallet that serves as your gateway to blockchain applications and Web3. Here’s what you need to know:
Last updated
At its core, MetaMask serves as a bridge between traditional web browsers and the Ethereum blockchain, allowing users to interact with decentralized applications directly from their browsers. It operates as a browser extension, compatible with major browsers such as Google Chrome, Mozilla Firefox, and Brave.
II. Features and Functionality:
Wallet Management:
Secure Storage: MetaMask provides users with a secure vault to store their cryptocurrency assets, including Ethereum (ETH) and various ERC-20 tokens.
Private Keys: Each MetaMask wallet is protected by a unique set of private keys, which are encrypted and stored locally on the user's device. This ensures that users have full control over their funds and can access them at any time.
Seed Phrase: During the initial setup process, MetaMask generates a seed phrase (also known as a mnemonic phrase) consisting of 12 or 24 words. This seed phrase serves as a backup mechanism, allowing users to restore their wallet in case of device loss or failure.
Browser Integration:
Seamless Integration: MetaMask seamlessly integrates with popular web browsers, enabling users to access decentralized applications directly from their browser windows.
Browser Extension: Users can download and install the MetaMask extension from the respective browser's extension store, making it easily accessible whenever they browse the internet.
Ethereum Transactions:
Sending and Receiving: MetaMask allows users to send and receive Ethereum and ERC-20 tokens effortlessly. Users can specify the recipient's address, the amount to send, and customize transaction fees based on network congestion.
Transaction History: MetaMask maintains a comprehensive record of all transactions conducted through the wallet, providing users with visibility into their transaction history.
Decentralized Application (dApp) Support:
dApp Browser: MetaMask features an embedded dApp browser, which enables users to interact with decentralized applications directly within the MetaMask interface.
One-Click Access: Users can access their favorite dApps with a single click, eliminating the need for separate login credentials or account setups for each application.
Custom Networks and Tokens:
Network Selection: In addition to the Ethereum mainnet, MetaMask supports various Ethereum test networks (e.g., Ropsten, Rinkeby, Kovan) and custom RPC networks, allowing developers to test and deploy smart contracts in different environments.
Token Management: Users can add custom tokens to their MetaMask wallets by specifying the token contract address, symbol, and decimal precision. This enables users to manage a diverse range of ERC-20 tokens within a single interface.