ConsenSys, one of the leading blockchain software developers worldwide, is working rigorously on improving blockchain interoperability. It launched a new tool that supports and allows users to move tokens on different blockchain platforms on MetaMask crypto wallets. With this launch, the firm allowed users to bridge the gap across different blockchain networks by aggregating different blockchain networks in one place. The MetaMask bridge supports most major blockchains compatible with EVM (Ethereum Virtual Machine). These blockchains include Avalanche, Ethereum, Polygon, and BNB Smart Chain. The new tool launched by ConsenSys is to bridge the gap of Ether with Wrapped Ether, Major stablecoins, and native tokens.
According to ConsenSys, this new tool allows MetaMask users to move tokens from one network to another blockchain network without any hassle in finding a reliable bridge. According to MetaMask bridges product manager Angela Potter, bridge cost, security properties, and speed differ significantly from each other, and it wastes a lot of time manually checking a ton of data every time a user tries to bridge.
She added that MetaMask bridges automatically find you the best price available. Still, there is an option where users can choose from the available bridges according to the efficiency in performing the task. According to her, “MetaMask bridges have 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.”
Right now, its solution is in beta testing. Still, users can access it through a portfolio decentralized application launched recently that allows moving tokens on multiple blockchains on a single platform. The portfolio dApp was launched in beta back in September and is now available for users to bridge among networks easily.
Potter also confirmed that MetaMask is not charging any additional fee during the beta testing period, with a bridging limit of 10000 $ per transfer. However, there was no statement or remark regarding the final release price for users. MetaMask is among the major software cryptocurrency wallets worldwide; it was launched in 2016 and was designed for the Ethereum blockchain. It is why MetaMask does not support the leading Global cryptocurrency, Bitcoin.
Potter also said, “Some of the actual snaps allowed dApps to connect to Bitcoin, Solana, and File coin. Any dApp can utilize a snap once deployed, meaning EVM compatible dApps can access the Bitcoin network through the enabled snap.”