New feature in MetaMask

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MetaMask

Consensys, the operator of the MetaMask cryptocurrency wallet, announced the launch of Smart Transactions. Customers will be able to send transactions to a virtual mempool (short for memory pool) to simulate transactions.

The developers promise that the new feature will help counteract the transfer of data to third parties. Consensys representatives claim that Smart Transactions will help protect cryptocurrency wallet clients from MEV bots and other types of fraud.

MEV bots monitor mempools with pending transactions, and are activated when they detect large trades. The bots create two trades at once: one before the detected transaction and one after. As a result, the client falls into the asset price slippage trap and loses his funds.

In addition to protecting against MEV bots, the virtual mempool can perform transaction modeling, giving users the ability to receive lower fees for cryptocurrency transactions.

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