ConsenSys Introduces Smart Transactions Feature for MetaMask
ConsenSys, the developer of the popular Ethereum wallet MetaMask, has announced the implementation of a new feature called Smart Transactions. This technology aims to provide users with increased privacy and security when conducting transactions on the network.
Enhanced Privacy and Security
The main highlight of Smart Transactions is the ability for users to remain anonymous until their transactions are fully confirmed on the network. This feature not only speeds up the transfer process but also shields MetaMask clients from bot actions and MEV attacks, which often result in higher fees and spreads during token exchanges.
Record Success Rate
During the beta testing phase, the Smart Transactions feature achieved a remarkable success rate of 99.5%, surpassing the industry average. ConsenSys attributes this success to their innovative mempool virtualization technology.
Real-Time Transaction Monitoring
Furthermore, the new feature includes an updated monitoring panel within the wallet, enabling users to track the status of their transactions in real time. This eliminates the need for third-party services to check transaction status.
«Smart Transactions empower users to monitor their transactions automatically and stay informed about the status of their funds on the network,» said Jason Linehan, Director of Special Mechanisms Group at ConsenSys.
As highlighted by Linehan, the implementation of new technologies like Smart Transactions is crucial for enhancing user experience and optimizing the efficiency of cryptocurrency wallets, especially in light of the significant amount of ETH spending on failed transactions in 2023.
