Solana News Today: MetaMask's Multichain Shift Aims to Boost Web3 Adoption Through Simplicity

MetaMask, the leading Ethereum-based crypto wallet, has launched a major update that transforms its platform into a multichain hub, enabling users to manage assets across Ethereum Virtual Machine (EVM) compatible networks, Solana, and soon Bitcoin, all under a single account. The change, announced Monday, marks a significant shift from MetaMask's original one-account-per-chain model to a unified structure that streamlines cross-network interactions, according to The Block. The update, automatically rolled out in MetaMask Mobile version 7.57 and Extension version 13.5, eliminates the need for users to juggle multiple accounts for different blockchains.

The new multichain accounts leverage BIP-44 derivation standards to generate and organize multiple addresses from a single recovery phrase, allowing seamless access to Ethereum, EVM layer-2s like Arbitrum and Optimism, Solana, and future Bitcoin support, The Block reported. Existing EVM and Solana addresses are paired chronologically, with older accounts retaining their names while new addresses adopt corresponding labels. Hardware wallet users, however, remain limited to EVM networks due to Solana's current lack of compatibility.

The update also introduces a 30x faster asset loading speed for Ethereum-based transactions, according to Coinotag. This performance boost enhances user experience, particularly for developers and traders engaging in cross-chain activities. Meanwhile, MetaMask's roadmap hints at Bitcoin integration, though no timeline has been officially disclosed, as The Block noted.

Privacy-focused innovation further defines the platform's evolution. COTI, a blockchain privacy protocol, has launched a MetaMask Snap that enables users to send and receive private tokens directly within the wallet. This integration, the first of its kind, allows secure handling of confidential transactions, private stablecoins, and DeFi strategies while maintaining regulatory compliance, according to FinanceFeeds. The COTI Snap operates as a modular extension, enabling selective disclosure of transaction data for both individuals and enterprises.

MetaMask's expansion into multichain capabilities coincides with growing speculation about the launch of its native token, MASK. Rumors surfaced after a password-protected claims portal linked to MetaMask's token emerged online, The Block reported. Consensys CEO Joe Lubin has hinted that the token could arrive "sooner than expected," though no official announcement has been made.

The update addresses a key pain point in the crypto ecosystem: fragmented wallet management across disparate chains. By consolidating accounts, MetaMask aims to reduce user friction and encourage broader adoption of decentralized finance (DeFi) and Web3 applications. Analysts note that the move aligns with industry trends toward interoperability, as projects increasingly seek to bridge EVM and non-EVM ecosystems, according to The Block.

For developers, the multichain framework opens new possibilities for cross-chain dApps and token bridges. However, challenges remain, particularly in ensuring security and usability for non-EVM networks like Solana. MetaMask's reliance on third-party plugins for non-EVM support also raises questions about long-term scalability, industry observers said.

As MetaMask positions itself as a universal gateway to Web3, competitors like Trust Wallet and Phantom are also expanding multichain features. Yet, MetaMask's first-mover advantage and massive user base give it a significant edge in shaping the next phase of crypto wallet innovation.