How does MetaMask work?

How does MetaMask work?

Since the beginning of Ethereumalternatives have been sought in decentralized applications that could function as Wallet for this crypto. The process was arduous for many years, hundreds of applications promised, but in the end came to nothing. This problem was solved by MetaMask coming to the market as the best DApp that you can use to store cryptos.

In this article we are going to give you a detailed guide everything you need to know about MetaMaskhow it works, how to install it, advantages, disadvantages and much more. Read on and find out in detail.

What is MetaMask?

MetaMask is a decentralized application that works to harness the potential of Ethereum and all the functions it brings. The application is used as an Ethereum wallet and a bridge for interacting with other decentralized applications. Some decentralized applications require that MetaMask to provide maximum security to the user, without this, the user will not be able to DApp it is possible that the other DApp not work properly.

Thanks to the bookstore web3.js containing MetaMaskwhich is the same used by Ethereum, is that the vast majority of benefits can be enjoyed. If we enter into a DApp with MetaMaskIf you have a token, you will have access to all the functions provided by the application, even more so if you are selling or buying a token.

The use of these functions has an added cost, this amount must be paid only at Ethereum. MetaMask provides you with different tools so that you can pay this amount in a more comfortable way.

The application is quite easy to use. versatilecan be used as a cryptocurrency wallet and on the other hand it was to help you to use without restrictions other cryptocurrencies. DApps. MetaMask guarantees the security and correct functioning of all operations performed, this DApp is able to generate its own asymmetric key. For these points and much more, is that MetaMask revolutionized the world of DApps and is the safest so far.

How to install MetaMask fast and easy

The installation from MetaMask is quite simple, the application should not be installed by any external means or third party applications. It has been tested to be safe and browsers accept it without any problem, for install MetaMask you must do the following:

  • Log in to your preferred browser, it can be Chrome, Mozilla, Opera, etc. There is no problem at this point.
  • Look for the extensions store through the settings menu or in the browser.
  • Search for "MetaMask" in the search bar and select the official MetaMask extension.
  • The installation process is simple, accept the terms and conditions proposed by the DApp and then you only have to accept in the following sections.

The process of installation can also be done from the MetaMask official websiteIn this case, the page will detect your browser and will give you the download link depending on your case. After clicking on the link, you will be shown the download process. installation and ready, it will be installed.

We recommend download it from the official mediaeither from the authorized extension store or from the website of MetaMask. If we download it from a third party site, we may be the victim of fraud or information theft.

Where MetaMask can be used

Some time after the massification of MetaMaskIn the last few years, we began to see a boom in the creation of DAppsThis is a simpler and faster process to perform. As a result of this, the use of MetaMask is extended in the following list of DApps:

  • Decentralized Exchange or Trading ServicesMetaMask is used in many decentralized applications to be able to use as many functions as possible in these DApps. The decentralization of these applications allows for greater security, but, if we use MetaMask as a whole, we will have full control of all our transactions and available funds.
  • Prediction markets: In these markets that focus on leveraging protocols such as Ethereum's, MetaMask can play an important role in utilizing it to its full potential.
  • The applications that use Ethereum-like protocols can take advantage of MetaMask's potential. In the vast majority of games of this style we can earn money by farming or selling different items that can be obtained in the game.
  • In wallets such as CoinbaseIf you want to use the software, you can unlock all of its functions and enjoy a more complete experience.

In general we could break this section down as the applications that can be related to the protocol from Ethereum or involving this cryptocurrency. If when using a DApp you see that there are blocked functions, you may have to use MetaMask.

Advantages and disadvantages of MetaMask

This decentralized application is in the focus of doubt for people who are not so deeply involved in the world of cryptocurrencies and DApps. The application has a confirmed security and virus-free operation, and it is a great help when using other applications. DAppsLet's take a look at their advantages and disadvantages.

Advantages

  • It is an application of open sourceIf you have a new version, you can have the latest updates and security patches in a matter of minutes. This also guarantees you a modification to try to improve some aspect of it.
  • Allows you to store your passwords With a cryptographic system, you can store it on your computer without fear that your keys will be leaked.
  • Within MetaMask you can create different profiles depending on the sites you access and applications you use. Several people may use MetaMask within the same device.
  • Uses the web3.js library and this will allow you to use all the power and functionalities offered by Ethereum.
  • The data of your accounts affiliated to MetaMask will be protected with the EIP 1102 protocol.
  • It is a fairly globalized extension and the most famous exchangers and wallets allow it, you will have no problem using it on CoinBase, ShapeShift, etc.

Disadvantages

  • If you install it in Chrome, Google can know your behavioral data and other activities that you perform with MetaMask.
  • Only works for certain DApps and designated applications, if you want to use it in a DApp that is not in the list you will have to wait for an update.
  • Depends on browser security to keep yours up, as by using an external method to operate.

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