The DePin IoTeX blockchain has recently announced its integration with the MetaMask wallet to enhance its decentralized physical infrastructure.
With the introduction of the “snap” function, IoTeX users can now improve the accessibility and usability of the technology, making it more widely available to the community.
This integration brings several benefits, including the ability to send tokens to web3 domains, convert io and 0x formats, and access real-time updates of the blockchain.
Let’s delve into the details below.
IoTeX enhances DePin functionalities by integrating with the MetaMask wallet
IoTeX, a prominent DePin blockchain in the crypto industry, has formed a strategic partnership with MetaMask, a popular wallet provider.
This collaboration brings over 30 million monthly active MetaMask users into the ecosystem of decentralized physical infrastructures.
With the introduction of the “Snap” function, the IoTeX community can now enjoy various benefits, creating new connections between real-world data and web3 networks.
These enhancements specifically address token transfers and the conversion of INS (IoTeX Name Service) addresses, which provide human-readable names for devices, services, and DePIN wallets on the IoTeX blockchain.
Through MetaMask Snap, users can easily send cryptocurrencies from the DePin network to io.address or INS domains, as well as convert INS addresses from io to 0x (EVM world) format while staying updated on the crypto ecosystem.
This integration enhances resource management and interoperability on the platform, showcasing the IoTeX community’s enthusiasm and dedication for the project.
During a press conference, Raullen Chai, CEO of IoTeX, expressed his excitement about the partnership, emphasizing the benefits it brings to the community.
The expansion of the MetaMask Snap service
The recent integration between MetaMask Snap and the DePin IoTeX network is just the beginning of a broader growth trajectory for the web3 wallet.
Originally introduced in September 2023 by ConsenSys, the company behind MetaMask, the Snap service has rapidly expanded since its beta launch.
Initially connecting the Solana and Ethereum EVM worlds, Snap now supports over 90 integrated chains, offering users a wide range of options for cross-chain exchanges within decentralized finance protocols.
With a new connection being added weekly, MetaMask Snap continues to expand its reach, with the latest integration involving the Ethereum Linea layer-2 blockchain.
This integration allows users to monitor LXP balances, LXP-L, and POH states through the MetaMask wallet, enhancing the user experience and preparing for upcoming airdrops.
As MetaMask Snap grows in popularity and functionality, we anticipate further advancements and integrations with services like DePin IoTeX, adding value to the broader crypto community.
While DePin technology progresses with the integration of MetaMask and IoTeX, the market experiences fluctuations in performance among top DePin tokens.
Despite recent declines in DePin tokens and Bitcoin prices due to market uncertainties, projects like OriginTrail (TRAC) have shown positive growth, indicating continued interest in decentralized infrastructures.
Overall, the DePin sector remains valued at over $17.5 billion, with ongoing developments and market activities shaping its future trajectory.
For more information on IoTeX and its DePin blockchain, you can visit their official website and explore the latest updates and developments in the ecosystem.
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