Third-generation, layer-1 blockchain Wire Network announced on Tuesday the launch of MegaMask, a crypto wallet that seeks to redefine the standard for cross-chain interoperability and asset transfers.
The wallet allows users to easily store, display and transfer NFTs, cryptocurrencies, and other digital assets from various blockchains in one wallet.
Megamask leverages Wire Network’s new Universal Polymorphic Address Protocol (UPAP), which enables cross-chain transactions without requiring a traditional bridge in order to process the transfers.
“This is a major pivot point in blockchain technology as we step away from the vulnerable fragmentation of traditional crypto architecture,” said Ken Dicross, CEO of Wire Network.
Like other mainstream crypto wallets, MegaMask allows users to leverage the potential of Web 3.0 technology while preserving the ease of use of Web 2.0 applications.
“It was challenging but we were able to maintain the tight security protocols demanded by web 3 users while offering a Web 2.0 style onboarding experience for new users,” said Kyle Dolan, CTO of Wire Network.
While other mainstream wallets allow you to transact with crypto assets stored on the Ethereum network (or other ERC-20 tokens) MegaMask will allow users to view, transfer, or trade assets on any modern blockchain using a mobile app, a web app, or a browser extension.
“This innovation is only made possible by our breakthrough protocols which we expect will be adopted by the entire industry,” Dolan added.
Megamask’s additional feature set will include decentralized RPC through Peer-to-Peer self-validation, Nameservice registration and private messaging between followers.