The developers of the MetaMask crypto wallet have introduced a new feature called Smart Transactions. It is designed to protect users from MEV bots and other types of fraud, writes CoinDesk.
Representatives of the project said that the main idea is to create a virtual mempool. It will check transactions for any anomalies.
This approach will eliminate the transfer of data to third parties, and will also promptly identify automated programs using so-called “sandwich attacks.” They are carried out using the previously mentioned MEV bots.
A mempool is a temporary storage for transactions waiting to be included in the blockchain. Unscrupulous users have learned to use this technology to carry out MEV attacks.
Special bots that monitor mempools with pending transactions begin to act when a large transaction is detected. They create two trades: one before the identified transaction, and one after. Thus, the user finds himself trapped in price slippage and loses funds.
In addition to protection against MEV strategies, the virtual mempool from MetaMask allows for transaction simulation. This will make it possible to receive a lower commission for the operation.
MetaMask developers note that they will involve third-party builders and search engines in processing transactions from the virtual mempool. At the same time, they will be subject to financial sanctions if they are convicted of non-compliance with the rules and prices established by the crypto-wallet.
In April 2024, MetaMask also launched a service where users can view the availability of airdrop tokens from projects. It is known that the function is supported in such blockchains as Ethereum, Optimism, Arbitrum, Base, Zora and Polygon.
Source: Cryptocurrency
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