Consensus acquired Wallet Infrastructure Provider Web3Auth, for a specific amount not disclosed."
According to online reports, blockchain software development company Agresys announced the acquisition of wallet infrastructure provider Web3Auth for an undisclosed transaction amount. The acquisition aims to enhance the user experience of its wallet MetaMask. Agresys said the move was specifically aimed at addressing "one of the biggest risks" in the self-hosting process-mnemonic management. According to data, approximately 35% of users do not back up mnemonics, putting their funds at risk of losing. By integrating Web3Auth, MetaMask users will be able to use familiar Web2 login methods such as social accounts and device authentication to create and restore wallets without manually backing up mnemons, reducing the risk of losing funds.
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