10
min read
June 23, 2021

Earth Wallet vs. MetaMask: Upgrading Your Keys to the New Internet

Compared with MetaMask, Earth Wallet features negligible fees and faster transaction settlement thanks to next generation blockchain networks like the internet computer protocol that are designed to scale blockchain’s capabilities.

Earth Wallet
Earth Wallet

Decentralized applications built on blockchain face resistance in mainstream adoption due to their inaccessibility. In most cases, these applications feature arduous, technically complicated, and confusing processes even as conventional applications such as Google and Facebook continue to move towards simple one-click sign-up processes.

Most cryptocurrency projects today lack the infrastructure to help users quickly understand the concept of decentralized applications and how they work. For instance, while Bitcoin is the most popular cryptocurrency out there, existing educational resources have cumbersome explanations of what the technology is all about and one would have to read a lot before understanding.

Frustrations borne out of a lack of user-friendly solutions extend to a poor user experience in current crypto wallet solutions. To begin with, the very idea of a crypto wallet address is too technical for average users yet addresses are the centerpiece of any blockchain-related project.

The purpose of a crypto wallet address is to be a user’s unique identifier and is typically made up of numbers and letters that look like this: 0x8eD92a86148723A980A408A1De2cFE746b056b24. A glance at the example above and you can see how difficult it would be to use that to make and receive payments daily.

Mainstream adoption can only happen when, at the very least, users are free to safely and easily store, swap, or send their cryptocurrencies with confidence.

Existing solutions

As a second-generation blockchain, Ethereum has made progress in terms of onboarding new users into Web 3.0 decentralized applications on its ecosystem. It is through Ethereum that DeFi applications such as Uniswap have emerged to push the boundaries of decentralized user-friendly applications that preserve privacy and anonymity without the need of completing daunting KYC/AML processes. MetaMask is one of the main Web 3.0 wallets facilitating transactions on DeXs such as Uniswap on the Ethereum DeFi ecosystem.

MetaMask

Today, MetaMask is one of the main entry points into the DeFi ecosystem. With over 5 million users, this Web 3.0 wallet acts as a critical piece of infrastructure when it comes to staking cryptocurrencies, swapping tokens on decentralized exchanges, and even storing NFTs (non-fungible tokens).

Thanks to its user-friendly design, this browser extension app has become the industry standard for storing and managing Ethereum private keys as well as the keys of tokens that mimic Ethereum. MetaMask works with a Javascript code on the chrome browser to enable seamless communication between decentralized applications and the Ethereum network.

One of MetMask’s unique selling points is the wallet’s ability to interface with the websites of decentralized exchange as well as other DeFi applications without the need to manually copy and paste payment addresses.

MetaMask also comes with a browser extension that allows you to ping your wallet for prompts whenever you need to reject or accept a transaction. The whole reason why MetaMask has proven to be successful is due to its user-friendly interface.

However, MetaMask is only built to support Ethereum keys even as a new wave of Web 3.0 keys such as Polkadot, Kusama, Filecoin, and ICP (Internet Computer) emerge.

What is Web3.0

Web3.0 is a move towards democratizing the internet. It involves the process of moving existing protocols and services on the internet to permissionless blockchains with open protocols and open standards. The aim is to enable greater degrees of freedom and decentralization in all aspects.

The rise of Web 3.0 enabled blockchain technologies is a perfect chance to prepare for the internet of the future by building user-friendly infrastructure around storage, data exchange, and financial transactions to mention a few.

While platforms such as MetaMask are enabling completely decentralized alternatives for crypto trading, they are locked to the Ethereum network and lack support for the growing number of Web3.0 tokens. This is why many projects are forced to launch projects on Ethereum just because the infrastructure exists there. The effects have been friction and overload on the Ethereum network leading to higher gas fees that compromise the efficiency of DeFi protocols.

Earth Wallet

Earth Wallet is the first self-custody wallet for the new internet. This is the wallet for the next generation of decentralized digital assets built on Web3.0 (the new internet). As the world’s first dedicated self-custody wallet for Web3.0 digital assets, Earth Wallet features support for cryptocurrencies such as ICP, DOT, BTC, and many more to come.

Earth Wallet aims to create a user-friendly experience for the non-tech user looking to explore new ways of moving value in Web3.0 enabled decentralized finance, governance, and NFT projects.

Compared with MetaMask, Earth Wallet features negligible fees and faster transaction settlement thanks to blockchain networks such as ICP and Polkadot that are designed to scale blockchain’s capabilities.

The Future of Web 3.0 Wallets

Experts predict that DeFi will soon be on par with traditional finance technology in just a few years. However, the fastest way to accelerate this development and facilitate a smooth transition of the masses from a centralized to a decentralized internet is through infrastructure development around Web3.0 projects.

Earth Wallet is front running this transition towards an open, decentralized, and transparent internet with its user-friendly solution for sending, storing, and receiving Web3.0 digital assets. Now, projects no longer have limited infrastructure when it comes to wallets, and therefore, issues of delayed transactions and costly gas fees are soon to be forgotten.

Previously, even as Web3.0 projects have continued to grow, adoption has been slowed down due to the poor user experience on current wallet solutions. Earth Wallet is removing these barriers with a frictionless interface that is cheaper and scalable, thus allowing users to easily swap and store their Polkadot and Internet Computer Protocol keys in native wallets.

Sign up for early access to Earth Wallet today at earthwallet.io!

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