According to a MetaMask executive, Bitcoin integration is not currently planned for blockchain bridge support via MetaMask Bridges.
ConsenSys, a provider of blockchain software technology, has added a new feature to the MetaMask wallet as part of its ongoing efforts to increase blockchain interoperability.
As of Nov. 9, the cryptocurrency wallet users can now connect to several blockchain networks with MetaMask Bridges, which collects many blockchain bridges in one location. Major Ethereum Virtual Machine (EVM)-compatible blockchains like Ethereum, Avalanche, the Binance Smart Chain, and Polygon are supported by MetaMask Bridges.
The newly developed technique permits bridges of Ether ($1,225)the significant stablecoins Wrapped Ether (WETH) and and native gas tokens, according to the company. Users of the cryptocurrency wallet can now transfer tokens between blockchain networks without the need to look for and select a trustworthy bridge thanks to the new bridge feature.
“There are a ton of different bridges out there, each supporting various networks and tokens,” Angela Potter, the product manager for MetaMask Bridges said She pointed out that there are significant differences in the pricing, speeds, and security features of different bridges, necessitating human data checks each time a bridge is used.
“MetaMask Bridges has curated the bridges that we think are the most decentralized and secure, and out of those, will recommend the best one for the user’s specific route,”
Potter said. She added that the MetaMask Bridges picks the bridge with the best price by default, but users can also see time estimates and pick the fastest one if they prefer. All the cryptocurrency wallet users can access the new bridge solution in beta through the Portfolio Dapp, a brand-new decentralized application (DApp) that enables users to view numerous MetaMask accounts and their assets in a single location. Users can now bridge between networks using the Portfolio Dapp, which was released in beta in September 2022, by following a few simple procedures outlined by the cryptocurrency wallet.
“MetaMask is not charging any additional fees during the beta period, and bridging is limited to $10,000 per transfer,”
Potter noted, adding that ConsenSys is yet to set a timeline for the general audience release. MetaMask is a well-known cryptocurrency wallet for the Ethereum blockchain that was introduced in 2016. The world’s largest cryptocurrency, Bitcoin (BTC$17,646), is still not supported by the wallet because it is by default focused on Ethereum and EVM-compatible networks.
The boss of MetaMask Bridges claims that there are no immediate plans for the platform to integrate Bitcoin. The usage of MetaMask Snaps, or tools that let users personalize the cryptocurrency wallet, would allow users to connect DApps to blockchains like Bitcoin, according to Potter:
“Some of the actual Snaps allow DApps to connect to Bitcoin, Solana, and Filecoin. Any DApp can utilize a “snap” once deployed, meaning EVM-compatible DApps can access the Bitcoin network through the enabled ‘snap.’”
ConsenSys had earlier announced plans to invest $2.4 million annually to support the newly established MetaMask Grants DAO, which was created to encourage future growth of the Web3 ecosystem. According to Taylor Monahan, the global product lead for the cryptocurrency wallet , the platform will continue to put an emphasis on decentralized development as a driver of future growth.