Dapp reviews – #1 – Metamask
Metamask has been chosen as the first dapplication to be reviewed due to this service being one of the first extensions to allow users to navigate the Ethereum network from the comfort of their browser. Rather than being a dapp, Metamask is something that will allow you to use these distributed applications, quick and easy. The extension can be found here (Chrome, Firefox and Brave).
The power of Metamask is that it allows users to interact with their wallets and the existing dapps out there without running a full Ethereum node. This lowers the entrance difficulty to Ethereum quite a bit as some people may not want to run a synced node in order to interact with the blockchain, they just want to try send and receive ETH or try out some dapps.
After downloading the Metamask extension, follow the steps in order to set up your account. You will be given a 12 word phrase which you need to store, advisably on paper, in order to be able to regain access to your private keys should you need to later on. Think of this 12 word phrase as the password to your passwords, do not loose it.
Once set up, you will have your dashboard, from here you can deposit funds from fiat currencies (Nationally issued currency such as USD or JPY) or other cryptos. You can navigate to other networks from the Networks dropdown at the top of the screen, but these are mainly for development purposes.
To create a new Ethereum wallet click on the colourful circle at the top right of the extension dropdown. From here you can Create or Import an account, or connect your metamask to a hardware wallet.
Click on Create Account and after you give your account a name you will be presented with your new wallet, with its name and address (hash). If you hover over your account name and address hash you will get the option Copy to clipboard.
Use this hash in order to give others to receive funds, no one can use this to take funds from your account so do not worry about keeping this private. In order to send someone funds you will have to request their hash.
In order to load your account with ETH you need to complete the necessary AML & KYC compliance through a third party service, metamask gives various options on how to do this via the ‘Deposit’ button.
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