What is MetaMask and how is this wallet formatted?

What is MetaMask and how is this wallet formatted?

If you’ve wondered what MetaMask is, the answer is the most secure digital wallet that is installed as an extension of your web browser.

The answer to “What is MetaMask” is simple: the most secure digital wallet that also permits you to interact more easily with the decentralized apps (DApps) of the Ethereum blockchain.

What are DApps?

DApps are digital platforms that make interaction between its members, through a site or a mobile app, without there being a mediator who manages the service or maintains a control over the actions undertaken. For example, on WhatsApp, when you send a message it first goes through the WhatsApp servers, a business property of Facebook. The information, and the users involved in the communication, is stored there. That’s not what happens with the DApps.

In the decentralized apps, there isn’t a central server that controls the register; but this role is shared and distributed among those members of that DApp through the blockchain.

All members of the DApps work together as a notary who reviews any movement made on the platform. Actually, no one has to expressly approve every movement, because it is an automatic process that begins when the DApp’s system validates the interaction through an intelligent contract.

Among the most known DApps is CryptoKitties, one of the first games created to start from the blockchain. Another is Crazy Dogs Live, a platform for betting on dog races.

What does MetaMask let you do?

MetaMask functions as a digital wallet and as a bridge that facilitates the interaction of its users with the DApps of the Ethereum blockchain.

When installing MetaMask as an extension on your web browser (Chrome, Firefox, Opera, and Brave) you can easily configure your digital wallet for Ethereum and obtain a tool with which you can easily interact with a DApp.

Once MetaMask is installed as an extension to your browser, you can execute all actions and events that a specific DApp permits. You can buy or sell tokens and access the services that that DApp offers. These actions have an expense that you will have to pay in Ethereum or any other token. In all cases, the MetaMask digital wallet has the tools that will permit you to complete the action.

How do you configure MetaMask in your browser and in which can you use it?

To install the MetaMask extension on your browser, you can download it from its official site https://metamask.io/download.

At present, various DApps permit interaction through MetaMask. Among the most used are various decentralized exchanges, like Bit2Me DEX. Further, with MetaMask you can play at OxUniverse and CryptoKitties, where you have the possibility to buy, sell and exchange these virtual cats. You can also access the P2P market of Veil Market predictions, and services like Bonfire where they propose taking an Ethereum permanently out of circulation, so as to permit the ones that remain more valuable.


Risk warnings
The views and opinions expressed are the views of Crypto Currency 10 and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All material(s) have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.
Changes in rates of exchange may have an adverse effect on the value, price or income of an investment.
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