{"id":615135,"date":"2023-03-07T07:49:48","date_gmt":"2023-03-07T13:49:48","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/07\/metamasks-token-will-probably-not-be-what-you-expected-talking-wallets-with-pm-alex-jupiter\/"},"modified":"2023-03-07T07:49:48","modified_gmt":"2023-03-07T13:49:48","slug":"metamasks-token-will-probably-not-be-what-you-expected-talking-wallets-with-pm-alex-jupiter","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/07\/metamasks-token-will-probably-not-be-what-you-expected-talking-wallets-with-pm-alex-jupiter\/","title":{"rendered":"MetaMask\u2019s Token Will Probably Not Be What You Expected: Talking Wallets With PM Alex Jupiter"},"content":{"rendered":"<div>\n<p>Airdrops have undoubtedly changed the course of development for many blockchain-based projects and the companies behind them. The examples are numerous, but one team that hasn\u2019t yet released a token and is long anticipated to do so is MetaMask.<\/p>\n<p>MetaMask is by far the largest self-custody cryptocurrency wallet with over 30 million users and has played an integral role in shaping the face of decentralized finance as we know it today.<\/p>\n<p>For quite some time now, the project has been rumored to be considering its own token, with many users seemingly believing that it will airdrop it to the community a la Uniswap style. But there might be more to the story.<\/p>\n<p>In this episode,\u00a0<em>CryptoPotato\u00a0<\/em>is joined by senior product manager\/owner at MetaMask \u2013 Alex Jupiter, who talks at length on the topics of safeguarding your crypto, digital identities, what the team has been up to, and of course \u2013 the coveted MetaMask token.<\/p>\n<p><iframe loading=\"lazy\" title=\"The Future Of Metamask: Airdrop Details, Matamask Snaps &#038; Security Tips (Podcast)\" src=\"https:\/\/www.youtube.com\/embed\/KvVwXoep9oE\" width=\"640\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2>How to Keep Your Crypto Safe<\/h2>\n<p>Security has been at the forefront of cryptocurrency discussions for as long as Bitcoin has existed. The idea of being able to take complete control of your finances seems alluring at first but is much more challenging in reality.<\/p>\n<p>In fact, the nature of blockchain-based technology makes it so that, at least for the time being, recovering your crypto if you\u2019ve fallen victim to a scam or if you\u2019ve lost your recovery phrase is close to, if not completely impossible.<\/p>\n<p>And our industry has become a playground for hackers.\u00a0<em>CryptoPotato <\/em>recently <a href=\"https:\/\/cryptopotato.com\/north-korean-hackers-stole-1-7b-worth-crypto-in-2022-chainalysis\/\" data-wpel-link=\"internal\">reported<\/a> that North Korean hackers stole a whopping $1.7 billion worth of cryptocurrencies in 2022 alone. In general, a little over $3.8 billion was stolen during that year, with the vast majority of it being in the field of DeFi.<\/p>\n<p>The ability to properly store your crypto is of paramount importance. Speaking on the matter, Jupiter gave some important tips, especially if you are new to space, on how to keep your keys safe:<\/p>\n<blockquote>\n<p>First of all, always keep your keys offline. Do not take a screenshot of your secret recovery phrase which can then get backed up to your iCloud, do not write it on your notes, inside your computer, which can be stolen, and also \u2013 if you lose access to your computer, you also lose access to your secret recovery phrase. Always keep it offline and, ideally \u2013 keep your secret recovery phrase in a hardware wallet as well.<\/p>\n<\/blockquote>\n<p>For some additional safety, make sure to check out our <a href=\"https:\/\/cryptopotato.com\/9-must-tips-securing-crypto-wallet\/\" data-wpel-link=\"internal\">9 tips for securing your Bitcoin<\/a> and crypto wallets.<\/p>\n<p>But that\u2019s not the entirety of the challenge.<\/p>\n<blockquote>\n<p>There\u2019s also a lot of work that needs to be done in regard to educating people in terms of when they\u2019re signing transactions.<\/p>\n<p>We see a lot of people who are sent a link to a fake website, and they don\u2019t quite realize what they\u2019re doing. They sign a transaction, and then all their assets are gone to that malicious smart contract. There\u2019s a lot of work that we all need to do in that area. At MetaMask, we have a team that\u2019s focused on improving the user experience on transactions.<\/p>\n<\/blockquote>\n<p>Jupiter also says that through MetaMask Snaps, they\u2019re able to partner with multiple different organizations and teams who have transactions UX in sight.\u00a0Talking about MetaMask Snaps \u2013 it\u2019s virtually a way for developers to extend the functionality of MetaMask in any way that they want.<\/p>\n<h2>What on Earth is Social Recovery?<\/h2>\n<p>One thing that many in the industry, including Vitalik Buterin \u2013 the co-founder of Ethereum \u2013 have been talking about for quite a while is the concept of social recovery.<\/p>\n<p>A bit of context \u2013 with self-custody wallets like MetaMask, the way to access your cryptocurrencies is through your so-called seed phrase. If you lose that \u2013 there are currently no ways to recover your assets. This is the main reason experts are working on ways around that, and one potential opportunity in this regard is the concept of social recovery.<\/p>\n<p>Jupiter clarified:<\/p>\n<blockquote>\n<p>Let\u2019s say that instead of having a single source of failure (keeping the secret recovery phrase in one place), what I actually wanted to do is to split that into three different shards. I\u2019m going to keep one to myself. I\u2019m going to then delegate the other two to, let\u2019s say, two close friends. I would then say that if I ever lost my portion of my secret recovery phrase, I would then get in touch with those friends to reissue part of that so I can recover my account.<\/p>\n<\/blockquote>\n<p>Of course, that\u2019s a basic breakdown of what the concept suggests, and it\u2019s entirely possible to get very complicated with it.<\/p>\n<p>During the podcast, we also touched on one of the hottest topics when it comes to MetaMask \u2013 their planned token.<\/p>\n<p>Last year, Joseph Lubin \u2013 CEO at Consensys, the firm that runs MetaMask, confirmed that they will be launching a token, but their head of operation confirmed that it will not be designed as a \u201ccash grab.\u201d Speaking on the matter was also Jupiter, who, in our podcast, revealed a bit more details about the much-anticipated token and what it might potentially look like.<\/p>\n<p>Hint: doing in-app transactions is unlikely to help you get an airdrop.<\/p>\n<div><center><span>SPECIAL OFFER (Sponsored)<\/span><\/center><\/p>\n<p><b>Binance Free $100 (Exclusive): <a href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" rel=\"nofollow\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>).<\/p>\n<p><b>PrimeXBT Special Offer: <a href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" rel=\"nofollow\" data-wpel-link=\"internal\">Use this link<\/a> to register &#038; enter POTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div><\/div>\n<p><a href=\"https:\/\/cryptopotato.com\/metamasks-token-will-probably-not-be-what-you-expected-talking-wallets-with-pm-alex-jupiter\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Johnathon Block<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Airdrops have undoubtedly changed the course of development for many blockchain-based projects and the companies behind them. The examples are numerous, but one team that hasn\u2019t yet released a token and is long anticipated to do so is MetaMask. MetaMask is by far the largest self-custody cryptocurrency wallet with over 30 million users and has<\/p>\n","protected":false},"author":1,"featured_media":615136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120020,22591],"tags":[],"class_list":["post-615135","post","type-post","status-publish","format-standard","has-post-thumbnail","category-metamasks","category-token"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/615135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=615135"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/615135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/615136"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=615135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=615135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=615135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}