Consensys has acquired the crypto wallet infrastructure provider web3auth, which is able to strengthen the user experience for its popular crypto pocket with metamask.
In a blog post dated June 2, Consensy said that the acquisition, which increases no further details on “Metamask user experience, is significantly improved today by certainly one of the best risks in self-sufficiency: Saatgut Phrase Management”.
It was claimed that 35% of the crypto letter pocket users have the chance of losing their means because they don’t maintain your seed phrase – quite a few as much as 24 words that enable full access and control of a wallet.
By integrating web3autH, metamask users can restore their wallets with conventional authentication methods reminiscent of device-based authentication and social registrations, which hopes that they are going to remove an entry barrier.
The integration is step by step introduced into phases for the metamask, and the corporate plans to implement multifactor users onboarding to enhance security.
At the start of this 12 months Metamask announced that it will support each Bitcoin and Solana networks.
Web3auth marks Consensy's latest acquisition
The latest acquisition of Consensys is the most recent in a protracted series of crypto firms that you purchased for the expansion of the offers.
In July 2024, the corporate acquired the safety tool -Wallet Guard to strengthen Metamask's security by integrating the progressive security functions of wallet guard in Metamask
On February 21, 2023, the corporate acquired the Blockchain -Development -Tooling platform HAL to integrate the service into its Web3 -API solving infura that helps developers receive warnings and notifications on the protocol level.
In 2022, Consensy's Ethereum Wallet provider MyCrypto bought plans to merge it with Metamask.
