Crypto wallet platform MetaMask has made statements about the discussions that it collects the data of its users.
In the past days, there have been various discussions about the crypto wallet platform MetaMask. The most striking of these discussions was the statements that the company collects user data. MetaMask, a decentralized crypto wallet service, admitted to receiving the data. The company said in a statement that the data was collected by ConsenSys and not used. The perception of decentralization as privacy and security left a question mark in mind. Users argued that there could be no decentralization that violates the privacy policy. In the midst of all these discussions, the company made a detailed statement about user data. As Coinkolik, we reached out to MetaMask co-founder Dan Finlay and asked our questions about user data.
What Data Does MetaMask Get From Its Users?
The decentralized crypto platform MetaMask announced yesterday that it will only keep user data for a week. Among the new updates and announced, RPC changes were also included.
MetaMask underlined that its users get IP address and wallet information within the necessary permissions. In addition, the wallet acts with permission to “read” on matters such as activities and balance display. In a statement made by the company, it was stated that the information received was not sold in any way.
As Coinkolik, we asked why MetaMask, a decentralized exchange and crypto wallet, collects user data. MetaMask co-founder Dan Finlay answered our questions.
Dan Finlay stated that privacy and transparency are at the heart of the company values. Finlay stated that users transact using Infura’s RPC endpoints. These transactions collect wallet information and IP address after going through the “write” approval process. However, Finlay underlined that this information collected is not stored enough to be associated. The purpose of this collected information; transactions, DDoS protection, load balancing and execution provided by Infura.
To our question regarding the collection and storage of user data, Dan Finlay said, “We store and delete user data such as IP address and wallet address in accordance with our data retention policy. We are working to reduce the retention period to 7 days and will add these retention policies to our privacy policy in an upcoming update.” said.
MetaMask users request a “read” through Infura to check their account balance. Along with this request, it was stated that account address information is not stored and is not associated with IP addresses. In other words, users’ wallets are not mapped to their IP addresses.
Referring to the allegations that the data was sold, Finlay said, “We have never sold and will not sell any user data we collect. We use data strictly in accordance with the usage restrictions described in our privacy policy.” said.
Why Does MetaMask Need To Pull Data From Its Users?
At Coinkolik, we asked MetaMask co-founder Dan Finlay why a decentralized company would need to pull data from its users.
Decentralization is a technology where privacy and security are top priorities. The popularity of Web3 is directly related to its commitment to privacy and security to users.
Co-founder Finlay stated that decentralized applications must follow a path to connect to blockchain networks. Finlay stated that the Infura system offers wider job opportunities with a lower barrier to entry. RPC stands for remote procedure call. In this context, Infura receives requests from MetaMask and performs these requests.
Referring to why user data is collected, Finlay said, “When transactions are sent through the Infura API, Infura receives your IP address and account address to perform basic technical functions. First, the account address is required as it is part of the request sent to a blockchain network. The IP address is also required to route the response back to the requestor. This data also provides DDoS protection to deter spam, keep our systems secure, and actually provide user-requested services.” said.
Talking about the updates they made, Finlay said;
We’re also making some updates to MetaMask to strengthen our commitment to user choice. While Infura is the default RPC provider pre-installed when users install MetaMask, sometimes a user wants to assign an alternative third-party RPC or self-host their node. From a privacy standpoint, we warn that these alternatives may not actually provide more privacy; alternative RPC providers have different privacy policies and data practices, and hosting a self node can make it even easier for people to associate your Ethereum accounts with your IP address.
Why Does MetaMask Keep The Data It Collects For One Week?
As Coinkolik, we asked the reasons for the decision to keep the data for a week as per the new policy of MetaMask.
Finlay stated that the time set as one week does not mean that they keep it. He claimed that this period was a legal leave given to them. MetaMask has announced that it conducts this period in accordance with data privacy controls and retention policies. In addition, the company underlined that the data held cannot identify users.
MetaMask co-founder Dan Finlay stated that along with their privacy policies, ConsenSys, MetaMask and Infura are the best in terms of data protection. In addition, Finlay conveyed that they believe maintaining community trust is exemplary.
MetaMask Co-Founder: MetaMask Owes Its Growth To Its Community
MetaMask co-founder Dan Finlay mentioned the importance of the community in getting the company to this point and growing. Finlay underlined that their growth is thanks to the community.
Commenting on the community, Finlay said, “They are constantly finding new ways to build and organize, and they are always pushing us to evolve in countless ways.” said. The co-founder also stated that they have an exciting future depending on their users.
Will MetaMask Exist 20 Years Later?
The turbulent processes in the crypto industry and the collapse of major players gave rise to future concerns among investors. To that extent, we wondered if MetaMask could still exist 20 years from now.
Making a statement on the subject, MetaMask co-founder Dan Finlay stated that MetaMask is the first way for users to interact with Web3. In addition, Finlay said;
MetaMask, the leading self-storage wallet, acts as a digital authority manager for Web3. It only allows websites and apps to access data that a user has allowed. All this is important in the coming years.
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