MetaMask Product Lead Talks About Future Plans: New Snap Module Expands Wallet Functionality, No Token Issuance Plan

Guest: Alex Jupiter, Product Lead at MetaMask

Interviewer: Liam J. Kelly, Decrypt

Compiled by: GaryMa, Wu Says Blockchain

Note: This article is a transcription of the content from the video interview, with adjustments and refinements made during the transcription process. We recommend that readers refer to the original video for a more comprehensive understanding of the information presented.

Q: At the EtherCC conference, besides mentioning L2, another important topic you discussed was "account abstraction," which aims to make cryptocurrency wallets smarter. Currently, many competitors have entered the crypto wallet space, hoping to gain more market share from MetaMask. Some critics have been saying that MetaMask lacks innovation and should strive to go beyond its current capabilities to capture more market share. What is your response to these critics who believe there is room for improvement in MetaMask?

A: We have always been committed to improving MetaMask. Our vision is far from complete, and we have a very focused team working tirelessly every day to enhance this wallet. Competition is a driving force for us, pushing us to make continuous progress in account abstraction. There are two types of accounts on Ethereum:

● EOA, externally owned accounts, which MetaMask is based on, signing transactions with private keys. If you lose your private key, you will lose access to all your assets;

● Smart contract wallets, which have been around for quite some time.

Now, with innovations like Gnosis Safe, more advanced features are becoming possible. These wallets are considered smarter because they offer multi-signature solutions and social recovery features. However, we cannot overlook the benefits that EOAs provide, such as complete non-custodial control and user-friendliness, requiring users to simply remember these keys. It also ensures high scalability. Nevertheless, we are actively exploring new solutions because we understand that as Ethereum evolves, MetaMask must evolve accordingly. Having a large user base of over 30 million people adopting new technologies naturally takes more time compared to startups with only a handful of users.

Q: Can you talk about the challenges of introducing new features (like smart wallets) for MetaMask? Are there areas that need to change, or EIPs that need to be introduced to Ethereum to alter the underlying technology?

A: Currently, the Ethereum community is widely focused on ERC-4337, which is a very attractive wallet solution and does not require a long time to advance. We are excited about building a stronger ecosystem around it, although there are still some immature aspects, and it is not yet ready for 30 million users. Nevertheless, we have decided to collaborate with these teams and advance the development of wallets.

Q: I think this conversation will also touch on the argument that account abstraction is inevitably the future direction, but perhaps it will coexist with externally owned accounts (EOAs), just as they currently do. Everyone present seems very optimistic about the trend of smart wallets, but do you think it has a sustainable future? Do you really believe this is the future of cryptocurrency wallets?

A: Time will gradually reveal the direction of MetaMask's development, but our goal is to promote various innovations within the industry. We have a very clear positioning for MetaMask, and we want to open up wallet functionalities to expand its possibilities. We are introducing a new set of APIs called MetaMask Snaps, which allows developers to extend wallet functionalities in any way they want. For example, if they have ideas to enhance security using advanced cryptographic techniques like multi-party computation or threshold signatures, they can create a Snap and attach it to MetaMask to implement that functionality.

Similarly, for those dedicated to developing account abstraction solutions, they can develop a Snap and attach it to MetaMask to extend its capabilities. We have our own internal ideas, but we also want to make MetaMask flexible and adaptable to future technological developments. Our goal is to remain agile, allowing developers to create their own versions of MetaMask, and we hope that through our collaborative efforts, we can build the best user experience together.

Q: Can it be understood that people want to make some small changes by adding these Snap modules, essentially adjusting how it operates?

A: They don't have to be small changes. These changes can be significant. For example, we recently launched a new user interface to support using MetaMask across multiple blockchains. Through MetaMask Snaps, we can gradually add entirely new accounts while also introducing a new user interface. Transaction analysis remains a core functionality of the wallet, but as MetaMask gradually supports more platforms, it may undergo significant changes in the coming years. Depending on which Snaps developers choose to integrate, the appearance of the wallet may differ from its current state.

Q: I remember you mentioned that MetaMask has an impressive 30 million users. How do you plan to continue growing the user base? Are you considering launching a token or implementing more luxurious measures to achieve this goal? Is expanding the user base a metric you closely monitor every day? Or is your main focus on enhancing the quality of the user experience?

A: We are certainly focused on maintaining and improving the quality of our services. While we have impressive numbers, such as 30 million monthly active users and 100 million users last year, we also recognize that these numbers can fluctuate due to market conditions and the broader ecosystem. Therefore, our primary focus remains on providing the best wallet experience.

In the past, we have observed that new innovations like NFTs can lead to spikes in usage, and we hope to be at the center of such trends. As a secure and non-custodial wallet, we place a high emphasis on security, so we are very cautious in selecting our partners. Once we release a flawed or insufficiently excellent feature, it could have serious consequences, damaging the wallet's reputation and user experience. Therefore, we are very meticulous and careful with every development to ensure we deliver the best product.

Q: So, you are not moving quickly and trying things out; in fact, it is quite the opposite?

A: Yes, when building wallets and other Web3 projects, moving quickly and trying things out does not align with the ethos of Web3. Moreover, I believe our users do not want that either, as they trust us.

Q: The surge in MetaMask's usage and downloads is undoubtedly beneficial, and it seems that Layer 2 solutions could be the next potential trend, further driving cryptocurrency adoption and attracting more users to download MetaMask. So, what are your thoughts on the Layer 2 trend and its impact on MetaMask's development and plans?

A: L2 solutions will undoubtedly continue to exist. Perhaps there has been some debate about their feasibility in the past, but the recent growth and adoption of projects like Polygon clearly indicate that people desire the security of Ethereum while also seeking faster and more cost-effective transactions. L2 is meeting that demand. Personally, I believe there is substantial evidence supporting this view, as the new wave of cryptocurrency users is likely to choose L2 for its speed and affordability over the Ethereum mainnet.

MetaMask is committed to supporting every EVM-compatible blockchain, with the potential to expand to non-EVM chains, which will further drive growth and adoption in different markets. However, we are resolutely determined to maintain high-quality standards throughout our expansion process to ensure that everything we do is of high quality.

Q: The topic of whether MetaMask will issue a token has become a hot topic in the Twitter community; can you talk about that?

A: In fact, the practical utility of launching a token for us at this time is very limited. I currently have no announcements to make, and while I understand your audience may be interested in tokens, I can confirm that there are no plans to release such an announcement at this time.