CONSENSYS has acquired the crypto wallet infrastructure provider Web3Auth, which states that it will offer the Metamask to offer the user experience to offer its popular crypto wallet.
Unanimously said in the blog of June 2 Post The acquisition, on which he did not share further details, will improve the Metamaska user experience by addressing one of the biggest risks in self-custody today: seed philosophy management. “
It was claimed that 35% crypto wallet users are at risk of losing their money because they do not backup their seed phrase – a string of up to 24 words allows complete access and control of a wallet.
By integrating the web3auth, the consensus said Metamask Users can recover their wallets using traditional authentication methods such as device-based certification and social logins, which hopes that an obstacle for entry will remove.
Integration will gradually be rolled out at the stages of Metamaska, and the firm plans to implement multiformer user onboarding to increase safety.
Earlier this year, Metamaska Announced This will roll out support for both bitcoin and Solana Network.
Web3Auth Marx Latest Acquisition of Consciousness
The latest acquisition of consensyses is the latest in a long string of crypto firms that have been purchased to expand its offerings.
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In July 2024, firm Acquired Security equipment for safety of Metamaska by integrating the advanced security facilities of wallet guards in Metamaska for safety of Wallet Guard Metamaska
On 21 February, 2023, firm Acquired Blockchain Development Tooling Platform HAL is to integrate service with its web3 API solution infura, which helps developers to alert and obtain information at the protocol level.
In 2022, consensus consensus bought Ethereum Wallet Provider Mycrypto with a plan to merge it with metamask.
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