Consensys Acquires Web3auth to Enhance Metamask User Experience, Eliminating the Need for Seed Phrase Backups

Consensys has announced the acquisition of Web3auth, a provider of key management and embedded wallet infrastructure, aimed at enhancing the user experience and security of its Metamask wallet. According to Consensys this acquisition addresses significant risks associated with seed phrase management, as recent data indicates that 35% of users do not back up their seed