MetaMask Team Works on Integrating Bitcoin Network: Potential Access Expected in June 2024
MetaMask, a widely recognized cryptocurrency wallet primarily associated with the Ethereum network, is reportedly expanding its capabilities to include the Bitcoin network. According to a recent report from CoinDesk, citing insider sources, the development team at ConsenSys, the company behind MetaMask, is actively working towards this integration.
The anticipated access to the Bitcoin blockchain could materialize as early as June 2024. It is expected that the initial feature set will be limited, with plans to expand the functionalities over time. This development marks the first time MetaMask will directly support the Bitcoin network, adding a significant milestone to its capabilities beyond Ethereum.
Currently, MetaMask supports various other networks including Polygon, BNB Chain, Base, Avalanche, and Arbitrum One, among others. However, the direct integration of the Bitcoin network into MetaMask has never been implemented before, making this a notable evolution in the wallet's offerings.
When approached for comments about the new Bitcoin network support, a representative from ConsenSys expressed enthusiasm: "We are inspired by MetaMask's commitment to embrace the Web3 world and continuously explore new features to enhance usability and security. At this moment, we cannot confirm any specific timelines for the developments. Stay tuned for updates when we are ready to share more."
Additionally, MetaMask reportedly boasts over 30 million active users monthly. While the wallet does not currently support the Bitcoin network directly, it utilizes a token compatible with the Ethereum network known as Wrapped Bitcoin (wBTC), which represents Bitcoin on the Ethereum blockchain.
In other recent developments, the MetaMask team launched a service for verifying airdrops and introduced a feature called Smart Transactions aimed at combating MEV (Miner Extractable Value) bots. These enhancements and the ongoing exploration of new capabilities reflect MetaMask's proactive approach to serving its extensive user base and staying at the forefront of the cryptocurrency wallet industry.
