Binance DEX, the decentralized exchange platform that works on Binance Chain blockchain built by Binance, announced in a tweet that its Panama Bridge Service has added support for the Ethereum DApp browser, called ‘MetaMask’ wallet.
— Binance DEX (@Binance_DEX) October 12, 2020
Binance had earlier explained the workings of the wallet and had stated that,
“What makes MetaMask so interesting is that it can interface with websites. With other wallets, you’d need to copy-paste payment addresses or scan a QR code on a separate device. With the MetaMask extension, the website simply pings your wallet, and you’re prompted to accept or reject the transaction. MetaMask can serve as a regular crypto wallet, but its real strength is in seamlessly interfacing with smart contracts and decentralized applications. Let’s now look at how to set it up.”
The Malta-based cryptocurrency exchange has been enjoying its positions as one of the most crucial players and has been able to rise to fame in the decentralized world as well. The latest integration is further expected to benefit the Binance ecosystem. This can be due to the fact that, for many in the community, MetaMask happens to the go-to wallet. It has managed to create in the niche for itself.
Moreover, MetaMask recently reported crossing the 1 million monthly active user mark for the first time across its desktop and mobile apps.
The parabolic rise in MetaMask’s user chart can be attributed to the success of DeFi. Further accelerating the growth curve was the major growth in the adoption of DAOs, Web3 games as well as the rapid consumer uptake of DeFi products and services over the past year.
Founded in 2016, MetaMask has so far operated as a browser extension that allowed its users to connect their crypto wallets to websites that are a part of the Ethereum network. Moreover, the wallet has been managing users’ Ethereum wallets enabling them to send and receive ETH through DApps.
As the ongoing conversation surrounding Web 3.0 or the decentralization of the Internet intensified, MetaMask has joined the league of other crypto tools and firms that aim to give users more privacy. Binance’s association with it is expected to bolster MetaMask’s adoption in the coming days.