ConsenSys Acquires MyCrypto to Strengthen MetaMask

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By Shiela Bertillo

Blockchain software technology company ConsenSys announced its acquisition of deep-rooted Ethereum interface MyCrypto today, February 1. The firm also disclosed that it will also team up with MetaMask, a market-leading Web3 wallet. 

The joint efforts of MetaMask and MyCrypto under a shared banner will further improve the security of all the products and create a cohesive user experience across desktop, mobile, extension, and browser wallets, ConsenSys said in a statement.

“MyCrypto has been one of the most stable and compatible wallets in Ethereum since its beginnings in 2015, providing secure and accessible solutions for web browsers and desktops. MetaMask has focused on general-purpose dapp interactions and has risen to become the world’s leading non-custodial crypto wallet for mobile and browser extensions with over 21 million monthly active users. By combining their shared values, talent, and goals, MetaMask and MyCrypto will be able to provide users with a heightened experience that is even more extensive and secure,” ConsenSys wrote in a statement.

ConsenSys also emphasized the digital wallets’ experience in weathering fluctuations in market cycles as well as their collaborations to persistently to educate the Ethereum community on security best practices. 

Further, the firm pointed out that the engineers at both companies helped integrate and maintain public goods such as MetaMask’s phishing detection service, which utilizes MyCrypto’s CryptoScamDB. 

“User security and education will continue to be a major priority,” Consensys wrote.

Moreover, they added that MyCrypto team’s experience building smart contract integrations will make it possible to have more rich integrations in MetaMask.

“MyCrypto has consistently been one of the most reliable and intercompatible wallets in Ethereum, often shipping cutting-edge Ethereum features ahead of other wallets, while MetaMask has focused on general-purpose dapp interactions. With our talents combined, and our strong sense of shared ethics and goals for this ecosystem, I think we’ll be able to provide a wallet experience that is much more able to help its users make the best decisions through this rapidly evolving Web3 wallet landscape,” Dan Finlay, co-founder of MetaMask, said in a statement.

Taylor Monahan, founder and CEO of MyCrypto, also noted the rapid growth of the ecosystem and products racing that aims to give “slick features.”

It is imperative that the leading wallet continues to build foundational and secure self-custody tools that empower the user. Combining our years of experience and shared values allows us to accelerate our mission of providing a way for users to fully realize their self-sovereignty,” added Monahan.

Despite the merge, ConsenSys assures that the MyCrypto and MetaMask products will continue to live independently in the near term with the eventual goal of merging features and brands. 

Within the MetaMask team, MetaMask co-founders Dan Finlay and Aaron Davis, along with MyCrypto founder Taylor Monahan, will collectively be leading the unified Desktop, Mobile, Extension, and Browser product offerings.

This article is published on BitPinas: ConsenSys Acquires MyCrypto to Strengthen MetaMask

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