TLDR
- MetaMask has launched multi-chain accounts, allowing users to manage multiple blockchain addresses from a single wallet.
- The update enables support for Ethereum, EVM layer-2 networks, Solana, and future Bitcoin integration.
- Multichain accounts are activated automatically in MetaMask Mobile version 7.57 and Extension version 13.5.
- Users with existing Solana accounts will have them paired with EVM addresses in the order they were created.
- MetaMask utilizes BIP-44 for organizing multiple blockchain addresses under a single recovery phrase.
MetaMask announced on Monday that it has launched multichain accounts. This new feature shifts the platform from a one-account-one-address model to a more flexible system. Users can now manage multiple addresses across different blockchain networks from a single MetaMask account.
Previously, MetaMask required separate accounts for Ethereum-based networks and non-EVM chains, such as Solana. With the new update, users can manage their Ethereum, EVM layer-2, Solana, and soon, Bitcoin addresses within one account. This simplifies the user experience by reducing the need for frequent account switching.
Multichain Accounts Now Available for MetaMask Users
MetaMask users no longer need to create separate accounts for each blockchain network. The new update automatically activates multichain support in MetaMask Mobile version 7.57 and Extension version 13.5. As a result, users can access a multichain account by default, without taking any additional steps.
MetaMask emphasized that the update would not disrupt existing accounts. Users with EVM and Solana addresses will see their accounts paired in chronological order. For users with more Solana accounts than EVM addresses, new EVM addresses will automatically be generated to match the Solana account names.
MetaMask’s new multichain accounts utilize BIP-44, a standard for derivation paths. This standard allows the wallet to generate and organize multiple accounts from a single recovery phrase. By implementing BIP-44, MetaMask ensures that users have a streamlined and secure way to manage their numerous blockchain addresses.
However, the update does not yet extend to hardware wallets. Currently, hardware wallets remain limited to supporting only EVM networks, as Solana support has not been added. MetaMask did not provide a timeline for when hardware wallets will support Solana or Bitcoin.
MetaMask Token Speculation Following Multichain Update
On the same day as the multichain launch, a website surfaced that was rumored to be linked to MetaMask’s upcoming token. The site appeared to be a claims portal for the MASK token, which many in the cryptocurrency community have speculated will be coming soon. While the website was initially password-protected, it now redirects visitors to MetaMask’s official homepage.
Executives at MetaMask have hinted at the release of a native token. Joe Lubin, CEO of ConsenSys, recently confirmed the company is actively working on the token. Lubin also indicated that users should stay alert for updates within the ConsenSys ecosystem as potential signs of the token launch.
MetaMask’s introduction of multichain accounts marks a shift in how users interact with blockchain networks. The update streamlines the user experience by consolidating multiple blockchain addresses into a single account.
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