How to Add Algorand to MetaMask (2022)
Algorand is a PPoS blockchain and one of Ethereum’s top competitors. According to CoinMarketCap, it ranks 30th in the cryptocurrency market cap charts.
I know it must be confusing to read an article about adding Algorand to MetaMask since MetaMask is an Ethereum wallet, and Algorand runs on a different blockchain. Thankfully, there’s a workaround: you can add Algorand to MetaMask by installing MetaMask Flask.
If you want to learn more about Algorand and how to add it to MetaMask, here you’ll find a simple explanation.
What is Algorand?
Algorand is an open-source, decentralized blockchain platform developed to solve blockchain’s current three main issues: decentralization, scalability, and security. It is focused on payments, creating a network capable of providing near-instant transactions.
Its native cryptocurrency is ALGO, created under a PPoS (Pure Proof-of-Stake) consensus mechanism. Unlike PoW (Proof-of-Work) blockchains, Algorand pays its ALGO coin holders a portion of rewards from validators. It also has a key difference with regular PoS—its Pure Proof-of-Stake mechanism selects validators randomly, irrespective of their stake.
This mechanism promotes the decentralization of governance and rewards, which is lacking under PoS systems like Ethereum.
What is Algorand Foundation?
Algorand Foundation is the organization responsible for Algorands blockchain development.
Since Algorand is a relatively new project, the Algorand Foundation ensures funding and development for the blockchain ecosystem.
The foundation assists ongoing projects and developers interested in building within Algorand, providing funding, strategy, education, and many other tools to developers and creators worldwide.
At the moment, university programs and international exposure are the main focus of the Algorand Foundation. They fund and build top universities’ programs to incentivize blockchain technology development through Algorand.
Why is Algorand not more popular?
Algorand is still under development. MIT professor Silvio Micali created the blockchain in June 2019, so it’s still too soon to tell if Algorand is a project with the scalability of Ethereum, as some enthusiasts say.
But this doesn’t mean Algorand can’t grow and become a more significant project in the space. Algorand is one of the top blockchains offering a solution for decentralization and scalability while being environmentally sustainable, making it attractive for investors and developers.
What is the official Algorand wallet?
Algorand doesn’t have an official wallet, but the community vouches for Pera Wallet since it was created by Algorand developers. If Pera Wallet isn’t your cup of tea, you can use other, more popular wallets like Ledger (hardware wallet) or MetaMask to interact with Algorand’s network.
The intuitive thing would be to use the official Algorand wallet rather than wallets designed for other blockchains. But as you keep reading, you’ll find out that MetaMask is, hands down, a better product.
Which wallet is best for Algorand?
You would think Pera Wallet is the best option for Algorand wallets due to its development team—and this may be the case.
But since it only supports storing, buying, and swapping cryptocurrencies on the Algorand network, a more refined, cross-blockchain, and interconnected wallet like MetaMask would make a better choice in the grand scheme of things.
You’re probably wondering how it’s possible to connect the Algorand network to an Ethereum-native wallet like MetaMask. Keep reading to find out the details about Algorand and MetaMask.
Is Algorand compatible with MetaMask?
But thanks to MetaMask Flask, you can now interact with Algorand on MetaMask.
What is MetaMask Flask?
MetaMask Flask is a tool from the MetaMask extension (Snaps) for developers. It gives them access to additional APIs, creating scalability and interoperability solutions.
Its goal is to empower developers with the space to create and innovate in the MetaMask extension and then apply that innovation to the main MetaMask platform.
Creators will be able to provide solutions, and if they work well, they can be adapted to the consumer version of MetaMask. You can think of it as an R&D process for the MetaMask team.
There’s a way to access Algorand’s blockchain with MetaMask. By downloading MetaMask Flask, you can interact with Algorand using ‘SnapAlgo,’ a snap or extension for MetaMask Flask.
How to add Algorand to MetaMask
You can access Algorand on MetaMask by following these two simple steps:
- Download MetaMask Flask in your Chrome browser.
- After downloading the extension, go to the SnapAlgo website and select ‘Connect.’
By connecting MetaMask Flask to SnapAlgo, you’ll be able to interact with Algorand using MetaMask Flask. SnapAlgo isn’t available for the main MetaMask platform, but with MetaMask’s constant development, it will be by the end of the year. If everything goes as expected, you’ll be able to add Algorand to MetaMask.
Does Algorand have a future?
Currently, it’s challenging to predict the future of any blockchain project because we are deep in a bear market. But analysts and investors believe that Algorand is an excellent project because of its innovative solutions and sustainability.
They are creating solutions with their open-source blockchain for institutions and organizations while providing sustainability through their PPoS mechanism. Developers are interested in building with Algorand because it offers flexibility while being environmentally sustainable.
It’s difficult to find how many active developers are working on the Algorand network because there’s no official information. However, according to Coin98 Analytics, Algorand is the 12th network with the most monthly active developers.
Algorand is a PPoS blockchain offering innovative solutions in the blockchain world. Scalability, decentralization, and security are the main points of interest for Algorand, with sustainability as a core value.
Less than a year ago, you couldn’t add Algorand to MetaMask, but thanks to MetaMask Flask and SnapAlgo, that is now possible. You just have to download MetaMask Flask in your Chrome browser and use SnapAlgo to interact with Algorand.
By the end of the year, you’ll be able to add Algorand to MetaMask without MetaMask Flask. In the meantime, this solution will be helpful for developers trying to solve interoperability issues.