MetaMask is set to expand beyond Ethereum by integrating Bitcoin and Solana, introducing smart contract capabilities, enhancing transaction efficiency, expanding its debit card services, and working toward eliminating gas fees for a more seamless user experience.
MetaMask Expands Multi-Chain Support
MetaMask, the widely used self-custodial crypto wallet primarily known for its Ethereum support, is set to integrate Bitcoin (BTC) and Solana (SOL) into its ecosystem. The announcement, made on February 28 through MetaMask’s official X account, marks a significant milestone in the wallet’s expansion beyond the Ethereum Virtual Machine (EVM) framework.
According to MetaMask co-founder Dan Finlay, Bitcoin integration is expected in the third quarter of 2024, while Solana will be the first non-EVM blockchain supported by MetaMask, with the integration scheduled for May. This move is part of a broader strategy aimed at enhancing the wallet’s functionality and user experience.
Smart Contract Wallet Capabilities in Development
The announcement revealed that Metamask is also advancing toward incorporating smart contract functionalities within its wallet. Currently, the wallet operates as an Externally Owned Account (EOA), relying on private keys for access. However, EOAs pose a risk—if a user loses their private key, they permanently lose access to their funds.
To address this, MetaMask is working on integrating Contract Accounts (CAs), which operate via code-based mechanisms, allowing for security checks and recovery options. The company emphasized during ETHDenver, North America’s largest Ethereum conference, that smart contract accounts will enable enhanced security and new asset management capabilities for users.
Transaction Batching and Cost Efficiency
Another key feature on MetaMask’s roadmap is the implementation of ERC-5792, which facilitates batched transactions. This feature allows users to streamline multiple transaction steps into a single action, such as approving and swapping tokens simultaneously. By condensing these steps, users will benefit from reduced gas fees and a more efficient transaction process.
Finlay elaborated that the new transaction model will present all necessary operations to the user at once, allowing them to pay a single gas fee for a sequence of actions executed within a single block.
MetaMask Debit Card Expansion
In addition to blockchain integrations, MetaMask is set to expand the availability of its debit card. Initially rolled out in the UK and EU, the card will become accessible to select U.S. states by mid-March. Linked directly to users’ MetaMask wallets, the card allows for seamless spending of crypto holdings at any Mastercard-accepting merchant.
The MetaMask team highlighted that users will be able to earn staking rewards or yield on their assets while maintaining instant access to their funds for everyday transactions.
Other Upgrades
Looking ahead, MetaMask revealed that it wants to further simplify the crypto experience by eliminating gas fees for users. The company plans to upgrade gas-included swaps, enabling users to pay for transactions using any token they hold rather than being restricted to network-specific assets.
Additionally, MetaMask is redesigning its home screen to display all assets across multiple chains in a unified view, eliminating the need for users to switch between networks and positioning itself as a more versatile and user-friendly multi-chain wallet.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
