BlocksInform
ConsenSys announced Tuesday that it had acquired MyCrypto, the Ethereum wallet interface provider, adding it to the software company's product suite. Its intent is to merge MyCrypto with the ConsenSys owned Meta.Wallet mask, to "enhance the security of all products and create a cohesive user experience through desktop, mobile, extension and browser portfolios."
We are very excited to bring the @MyCrypto team to @MetaMask! The two teams have been friends and work colleagues with shared values since 2016.
Together, we will continue to build more user-centric, scalable and decentralised products.https://t.co/A7y8pkrg7f
— Joseph Lubin (@ethereumJoseph) February 1, 2022
MetaMask currently has 21 million monthly active users, according to its web site, and is one of the fastest growing non-custodial Ethereum portfolios and browser extensions. METAMASK co-founder Dan Finlay said that he expects that the combination between MetaMask's mobile apps and browser extensions and MyCrypto's web product and desktop application will "connect people to the world of Web3 in even more ways."
Related: MetaMask's new multi-chain custodial feature.
Similarly, MyCrypto explained in a blog post how it will be working together with MetaMask "to lead the way to Web3" and that they have a shared goal to "build the perfect wallet." The characteristics of an ideal portfolio include becoming increasingly decentralized and unreliable, prioritizing user security and security and providing seamless access to various user accounts, protocols and networks.
Mycrypto clarified that the user experience will not change in the short term, apart from small updates like improvements, network management, error messages and a dark mode. No action is required from mycrypto or metamask users at that time. In the long term, however, both portfolios will merge "slowly" into a "full, ethereum-first suite of open-source, non-codial product offerings.
Consensually, metamask cofounders dan finlay et aaron davis, beside mycrypto founder taylor monahan, will run the new office, mobile, extension and navigator product team, while 12 mycrypto employees will join consensys.
ConsenSys reached a valuation of $3.2 billion after raising $200 million in November 2021.
