Hedera Consensus Service Expands Functionality for MetaMask Users

The Hedera Consensus Service (HCS) recently announced its integration with MetaMask with the newly updated Hedera Wallet Snap. This integration benefits

Hedera Consensus Service (HCS) has announced its integration with MetaMask through the latest update to the Hedera Wallet Snap. This integration will greatly benefit MetaMask users by providing complete support for essential Hedera services like the Token Service and Smart Contract Service. As a result, the Hedera Wallet Snap can now serve as a multi-functional tool for diverse applications within the Hedera network, as highlighted in the announcement.

"You can now use #Hedera Consensus Service on MetaMask with Snaps!

We’re excited to share the latest update to @hedera Wallet Snap, now live and ready to enhance your MetaMask experience

pic.twitter.com/yrDTt1f8DQ"

HCS is designed to generate a decentralized and auditable record of immutable events, with timestamps that can be utilized by both Web2 and Web3 applications. HCS enables users to send messages to the Hedera network for consensus, obtaining a timestamp and ensuring the fairness of the message.

Now, users can perform actions like creating, updating, and deleting topics, submitting messages, retrieving topic messages, and obtaining topic information directly through MetaMask. These features will open up new possibilities for developers and users, allowing them to easily connect and contribute to the Hedera network.

In addition to these core features, Tuum Technologies has also focused on enhancing the user interface and experience of the Hedera wallet Snap. To integrate the new features and improve the overall experience for both developers and users, some changes are being made. This emphasis on UI/UX refinement aims to provide a user-friendly and efficient tool for the Hedera community.

This latest update serves as a valuable addition to the Hedera ecosystem, offering developers with a powerful and comprehensive set of resources for creating new dApps. As highlighted in our previous article, the Hedera Network (HBAR) has seen a surge in user engagement with 400,000 new accounts being created in just one week. This growth was largely driven by the recent partnerships with Blade Wallet and Karate Combat, which were smoothly integrated into the Hedera network.

HBAR Token Ranks Among Top Digital Assets

The native token of the Hedera network, HBAR, currently ranks as the 36th largest digital asset by market capitalization. Earlier this year, HBAR saw its price rise to $0.090, indicating a 25% increase over the year. However, the token has recently experienced a 4% increase in the past 24 hours, with its price being valued at $0.056. HBAR's trading volume has decreased by 58% in the last 24 hours. Despite this, the market cap saw an increase of 3.26% at 2B.

According to data from Santiment, as the open interest contracts decrease, so does the price of HBAR. Open interest contracts also dropped from $23 million to $19.15 million, showing a 13% decrease in the last one week. This indicates a lot of long liquidation among the traders and the investors, which in turn puts pressure on the price of HBAR.

Meanwhile, the Hedera Foundation has introduced two pilot Request for Proposals (RFPs) to cater to specific needs within its ecosystem, inviting developers from around the world to apply for grants, as mentioned in our earlier post.

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