Consensys announced on the 27th (local time) that the number of monthly active users in its MetaMask wallet has increased fivefold over the past six months, and that the number of active monthly users currently exceeds 5 million.
In October 2020, Metamask’s monthly active users exceeded 1 million for the first time. The data on the chain shows that exchange transactions are the main use case of MetaMask, followed by non-replaceable tokens (NFTs). In terms of metamask mobile adoption, both India and Indonesia are in the top 5, while Vietnam and Nigeria are in the top 10.
More and more people are using metamasks to earn extra income or make long-term investments. Many people do not have access to the local banking system, so alternative technology is needed to act as a savings account. For example, the average percentage of people in South America who do not have access to a bank account is 54%.
Ethereum-based developer ConsenSys, a company founded by Ethereum co-founder Joseph Rubin, developed Metamask, a wallet service widely used in the Ethereum ecosystem, and Truffle, a smart contract development tool.
(In the past 6 months, MetaMask has grown 5x, and is now used by more than 5 million users every month.)
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.