Cryptocurrencies have become an essential part of the modern digital world, and with their rise, there has been a growing need for secure and reliable wallets to store and manage these digital assets. One of the most popular and trusted wallets in the cryptocurrency world is MetaMask. Since its launch in 2016, MetaMask has been instrumental in providing a seamless and secure way for users to interact with decentralized applications (dApps) on the Ethereum blockchain. Written in this article is a comprehensive list of milestones MetaMask has achieved since its launch.
Early Days of MetaMask (2016 – 2017)
The early days of MetaMask were marked by the founding of the wallet by Aaron Davis and Dan Finlay. The duo recognized the need for a user-friendly browser extension that would allow users to access Ethereum dApps with ease. This led to the development of the first version of MetaMask in 2016, which was released as a Chrome extension.
The initial features of MetaMask included the ability to store and manage Ethereum and ERC-20 tokens, as well as the ability to interact with Ethereum dApps. The wallet quickly gained popularity in the cryptocurrency space, thanks to its ease of use and seamless integration with the Ethereum blockchain.
In 2017, MetaMask underwent significant changes, marking the rise of the wallet to prominence in the cryptocurrency world. The wallet expanded its support to more cryptocurrencies and blockchain networks, including the Ropsten and Kovan testnets. This move allowed developers to test their dApps on these testnets before deploying them to the Ethereum mainnet.
MetaMask also introduced a mobile version of the wallet in 2017, making it easier for users to manage their Ethereum and ERC-20 tokens on the go. The mobile version of MetaMask was initially available for Android devices, and later for iOS devices.
The rise of MetaMask during this period was fueled by the growing popularity of the Ethereum blockchain and the need for a wallet that could seamlessly integrate with it. MetaMask quickly became the go-to wallet for users who wanted to interact with Ethereum dApps without the hassle of managing private keys and wallets.
Rise of MetaMask (2017 – 2018)
The rise of MetaMask continued in 2018, as the wallet expanded its support for more cryptocurrencies and blockchain networks. MetaMask’s integration with more blockchain networks allowed it to reach a wider audience of developers and users, making it one of the most popular wallets in the cryptocurrency space.
In addition to its support for more blockchain networks, MetaMask introduced a hardware wallet integration in 2018. This move allowed users to store their private keys on hardware devices, making them more secure and less vulnerable to hacks and attacks. MetaMask’s hardware wallet integration was a significant milestone for the wallet, as it demonstrated its commitment to providing secure and reliable services to its users.
The year 2018 also saw MetaMask form partnerships with major blockchain companies, including ConsenSys, Infura, and Kyber Network. These partnerships helped to cement MetaMask’s position as a trusted and reliable wallet in the cryptocurrency space, and allowed it to expand its services and offerings to its users.
Another significant milestone for MetaMask in 2018 was the introduction of its institutional-grade wallet, MetaMask Institutional. The wallet was designed for institutions and high-net-worth individuals who needed to manage large amounts of digital assets securely. MetaMask Institutional provided advanced security features, including multi-factor authentication and custom transaction limits, making it one of the most secure wallets in the industry.
The final significant milestone for MetaMask in 2018 was the introduction of MetaMask Swaps, a built-in decentralized exchange. MetaMask Swaps allowed users to swap their Ethereum and ERC-20 tokens directly from their MetaMask wallet, without the need for a separate exchange. This move made it easier and more convenient for users to manage their digital assets, and demonstrated MetaMask’s commitment to providing a seamless and user-friendly experience for its users.
The rise of MetaMask between 2017 and 2018 was marked by its expansion into new blockchain networks, the introduction of hardware wallet integration, partnerships with major blockchain companies, the launch of MetaMask Institutional, and the introduction of MetaMask Swaps. These milestones helped to solidify MetaMask’s position as one of the most trusted and widely used wallets in the cryptocurrency space.
Significant Milestones (2018 – 2021)
The period between 2018 and 2021 saw MetaMask continue to grow and evolve, with the wallet introducing several significant milestones that cemented its position as a leading wallet in the cryptocurrency space.
One of the most significant milestones for MetaMask during this period was the launch of its mobile app on both iOS and Android devices. The mobile app provided users with a more convenient way to manage their digital assets on the go, and helped to further expand MetaMask’s user base.
Another significant development for MetaMask during this period was its integration with Layer 2 scaling solutions like Polygon. This move allowed MetaMask users to access dApps on Polygon with ease, and helped to address the issue of high gas fees on the Ethereum network.
MetaMask also introduced its NFT marketplace in 2021, providing users with a platform to buy, sell, and trade non-fungible tokens (NFTs) directly from their MetaMask wallet. This move was a significant step forward for MetaMask, as it demonstrated the wallet’s commitment to providing a comprehensive suite of services to its users.
In addition to these developments, MetaMask also continued to improve its security features, with the introduction of a new account recovery process in 2019. The new process made it easier for users to recover their MetaMask accounts in the event of a lost or stolen device, further demonstrating the wallet’s commitment to providing a secure and reliable service to its users.
Finally, MetaMask continued to expand its partnerships with major blockchain companies during this period, including a partnership with ConsenSys Codefi in 2020. The partnership aimed to provide institutional-grade services to decentralized finance (DeFi) protocols, and helped to further cement MetaMask’s position as a leading wallet in the DeFi space.
MetaMask also continued to expand its support for new blockchain networks in 2021, with the introduction of support for Binance Smart Chain and the Polygon Network. These integrations allowed MetaMask users to access a wider range of decentralized applications and digital assets, and helped to address the issue of high gas fees on the Ethereum network.
Another significant development for MetaMask in 2021 was its partnership with Balancer, a leading decentralized exchange (DEX). The partnership allowed MetaMask users to swap tokens directly from their wallet using Balancer’s DEX, further expanding the wallet’s functionality and making it easier for users to manage their digital assets.
MetaMask Recently (2022 – Present)
MetaMask has continued to reach significant milestones since its launch, and the year 2022 was no different. One area of focus for MetaMask during this time was to provide access to all Ethereum Virtual Machine (EVM) chains. This led to the launch of custodian account multi-chain capabilities, which allows for a simplified process of rolling out access to more EVM chains for custodian and self-custody partners. The V2 JSON-RPC API Integration Architecture, launched in January 2022, enabled the compression of integration steps, making it easier for multiple custodians to integrate simultaneously.
In the second quarter of 2022, MetaMask launched MMI’s NFT tracking view to provide a consolidated view of all NFT holdings, across custodians, accounts, and marketplaces. This unified all the fragmentation institutions face in the NFT sector. MetaMask also launched the portfolio snapshot feature to provide accurate valuations across all EVMs in token, DeFi positions, and NFTs. This feature automatically creates weekly, monthly, and quarterly valuations and transaction history that can be shared in read-only format to third-party service providers.
The third quarter was all about building on the work done in the first half of 2022 to strengthen custodian offerings and improve existing features. MetaMask announced its next set of custodian and self-custody partners, which included Cobo, Floating Point Group, Liminal, and Propine. Throughout the quarter, the team also shipped a range of updates and essential features within the portfolio dashboard.
MetaMask focused the fourth quarter on solving another pain point for customers: access to MMI via APIs instead of through a standard user interface. The MMI SDK, which is effectively the connector to which all custodian partners integrate, was open-sourced to provide programmatic access to clients. In addition, MetaMask natively embedded MetaMask Swaps into the Portfolio Dashboard to ensure a fast and seamless swapping experience. The team also built a transaction simulator that allows for the creation of programmatic transactions, extending MMI’s access to web3 through an additional interface. Finally, a series of improved UX and UI updates were deployed within the MMI extension, ensuring a seamless user experience.
MetaMask has come a long way since its launch in 2016. From being a simple browser extension wallet for Ethereum, it has evolved into a feature-rich and user-friendly wallet with multi-chain support, NFT tracking, programmatic access, and more. With over 10 million monthly active users and support for over 30 EVM chains, it has become one of the most popular and widely used wallets in the web3 ecosystem. The journey of MetaMask has been characterized by innovation, user-centric design, and a commitment to empowering users with the freedom and flexibility to manage their digital assets. MetaMask’s continuous development and improvement have helped it stay ahead of the curve and adapt to the rapidly evolving DeFi and NFT landscapes.