Reportedly MetaMask crypto wallet team is working on the integration of Bitcoin blockchain network-based crypto features for MetaMask users.
MetaMask is a popular Ethereum blockchain ecosystem-focused crypto wallet, which also supports Ethereum layer-2 scaling networks e.g. Polygon Network, Fantom, Avalanche Network, Binance Smart Chain, and Arbitrum. This wallet was developed & launched by blockchain firm ConsenSys in 2016 but started gaining adoption among crypto traders in 2019, following the Defi boom.
On 22 May 2024, Coindesk media reported that two people close to the MetaMask wallet team disclosed that the ConsenSys developers are working on the introduction of Bitcoin native network support in the MetaMask wallet.
If the insider’s information is 100% true then there are huge chances that people will be able to transfer NFTs & meme tokens on the Bitcoin blockchain network via Ordinals by the next month.
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Currently, MetaMask has a 30 million active user base, so it will be a very big thing for the Bitcoin network adoption. Also with that, we will see a huge pump in BTC network fees.
As per the report, Bitcoin native services access will be very limited in the initial phase of launch but with time it will be expanded to the capabilities of what a blockchain could do beyond what Bitcoin pioneered.
In the present time Bitcoin transactions are available on the MetaMask wallet on the Ethereum network i.e. MetaMask users use the Ethereum-compatible ERC-20 token known as Wrapped Bitcoin (WBTC).
It is worth it to note that MetaMask is a non-custodial crypto wallet but still it can be used to trade crypto assets for fiat currencies easily.
Just a day ago, MetaMask integrated Coinbase wallet support through which MetaMask users can directly use the CoinbasePay option to transfer crypto assets between MetaMask & Coinbase wallet seamlessly.
Read also: Former US president Donald Trump accepts Bitcoin donation for election campaign
MetaMask to add support for Bitcoin native blockchain network
https://bitcoinik.com/metamask-to-add-support-for-bitcoin-native-blockchain-network/feed/
https://bitcoinik.com/metamask-to-add-support-for-bitcoin-native-blockchain-network/feed/
