MetaMask, the popular Ethereum wallet backed by ConsenSys, has recently deployed an innovative feature called “Smart Transactions.” In an announcement on May 14, ConsenSys revealed that the new technology will be rolled out as an option to MetaMask users worldwide.

The design goal of "Smart Transactions" is to increase the success rate of transactions, reduce gas fees, and protect users from harmful MEV (maximum extractable value) attacks such as front-running and sandwich attacks. MetaMask users have often expressed dissatisfaction with the high fees and spreads of token swaps and transactions within the wallet.

MetaMask Technical Improvements

Among the improvements to MetaMask, "intelligent transactions" effectively prevent preemptive execution by robots by keeping transactions private before being confirmed on the chain, thus improving the success rate of transactions. ConsenSys said that the "intelligent transaction" utilizes "new memory pool virtualization technology" developed by it, and during the beta period, the new system achieved a transaction success rate of 99.5%, which is significantly higher than the industry standard.

In addition, MetaMask users can now monitor the status of pending transactions in real time on a new dashboard within the wallet, eliminating the need to navigate to a third-party block explorer. Jason Linehan, director of the ConsenSys Special Mechanisms Group, commented: "'Smart Transactions' allow users to more automatically and efficiently process the transactions they sign and what happens to them when they are sent to the blockchain network."

The company also noted that more than 52,000 ETH was wasted due to failed transactions in 2023 alone. Gal Eldar, MetaMask's executive director of product, explained that submitting transactions to a distributed network is a challenge, and this complexity often leads to a frustrating and unpredictable user experience, and sometimes even leads to significant financial losses.

MetaMask’s recent actions

In MetaMask’s recent history, it launched validator staking support in January, allowing users to stake 32 ETH through ConsenSys’ custodial service, with the wallet charging only a 10% commission on rewards, which is much lower than the fees charged by centralized exchanges such as Coinbase.

In addition, MetaMask has previously encountered some problems in the Apple App Store, including the increase in fake applications and the brief removal of the original application. However, these problems have been quickly resolved, and the MetaMask application has been re-listed on the Google Play Store and Apple App Store and continues to operate.

Conclusion:

With the launch of the "intelligent transaction" function of MetaMask, the wallet has taken an important step in improving user trading experience and security. This new technology not only significantly improves the transaction success rate and reduces transaction costs, but also reduces users’ risk of MEV attacks through advanced privacy protection measures.

This innovative move by ConsenSys reflects its deep understanding and rapid response to the advancement of blockchain technology and user needs. The launch of "Smart Transactions" indicates that MetaMask will continue to be the leading wallet in the Ethereum ecosystem, providing users with more efficient and secure services.

At the same time, the MetaMask team's continued focus on product stability and security also ensures that it maintains its leading position in the highly competitive market. With the continuous advancement and optimization of technology, MetaMask is expected to provide more innovative solutions to global users in the future and further consolidate its leading position in the digital wallet field. #MetaMask #智能交易