Speaking wallet with PM Alex Jupiter

Speaking wallet with PM Alex Jupiter
AIRDROPS have undoubtedly changed the development course of many blockchain-based projects and the companies behind it. The examples are numerous, but a team that has not yet released a token and which has been calculated for a long time is metamask.
METAMASK is by far the greatest self-confidence cryptocurrency wallet with over 30 million users and has played an important role in the design of the face of the decentralized finances as we know them today.
For some time it has been rumored that the project will think about its own token, whereby many users apparently believe that it will send it to the community uniswap style. But maybe there is more behind the story.
In this episode Cryptopotato , Senior Product Manager/Owner is accompanied by Metamask-Alex Jupiter-who extensively on the topics of protecting their crypto, digital identities, which the team is up to and of course-the coveted metamask token.
How to keep your crypto safely
Since Bitcoin has been available, security is at the forefront of discussions about cryptocurrencies. The idea of being able to take full control over your finances seems tempting at first, but is actually much more difficult.
In fact, the nature of the blockchain-based technology does it that the restoration of your crypto, if you have fallen victim to fraud or if you have lost your restoration phrase, at least for the time being, if not completely, is impossible.
and our industry has become a playground for hackers. Cryptopotato recently reported that North Korean hackers stolen cryptocurrencies worth $ 1.7 billion in 2022 alone. In general, a little more than 3.8 billion US dollars were stolen this year, with the majority of it in the Defi area.
The ability to properly store your crypto is of the greatest importance. Jupiter gave some important tips on this topic, especially if they are new to space, how you can safely store your keys:
Always keep your keys offline. Do not make a screenshot of your secret recovery sentence, which can then be secured in your iCloud, do not write it on your notes, in your computer, which can be stolen, and - if you lose access to your computer, you also lose access to your secret restoration phrase. Always keep it offline and ideally keep your secret restoration phrase in a hardware wallet.
For additional security, be sure to read our 9 tips to secure your Bitcoin and crypto money exchanges.
But that's not the whole challenge yet.
There is also a lot of work that needs to be done to clarify people when they sign transactions.
We see a lot of people to whom a link to a fake website is sent and you don't know exactly what you are doing. They sign a transaction, and then all their assets go to these malicious smart contract. There is a lot of work that we all have to do in this area. At Metamask we have a team that focuses on improving the user experience with transactions.
Jupiter also says that through Metamask Snaps you are able to work with several different organizations and teams that have transactions UX in sight. Speaking of metamask snaps - it is practically a way for developers to expand the functionality of metamask as desired.
What is social recovery?
One thing that many in the industry, including Vitalik Buterin - the co -founder of Ethereum - have been talking for some time, is the concept of social relaxation.
A bit of context-with self-customer walls like Metamask, your cryptocurrencies are accessed via your so-called seed phrase. If you lose this - there are currently no ways to regain your assets. This is the main reason why experts are working on avoiding this, and a potential opportunity in this regard is the concept of social relaxation.
Jupiter made it clear:
we assume instead of having a single source of error (keeping the secret restoration phrase in one place), I actually wanted to divide them into three different Shards. I keep one for myself. I then delegate the other two, let's say two close friends. I would then say that if I should ever lose my part of my secret restoration phrase, I would contact these friends in order to publish some of them so that I can restore my account.
This is of course a basic breakdown of what the concept suggests, and it is quite possible to get very complicated.
During the podcast we also addressed one of the hottest topics regarding metamask - their planned tokens.
Last year Joseph Lubin - CEO of Consenys, the company that Metamask operates that they will bring a token onto the market, but their operations manager confirmed that it will not be designed as a "cash grave". Jupiter also spoke on this topic, who in our podcast revealed a little more details about the excited token and its possible appearance.
Note: It is unlikely that in-app transactions will help you get an airdrop.
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