Hedera is an Ethereum Virtual Machine (EVM)-compatible alternative L1 blockchain, which means users can add it to the list of networks on their MetaMask Wallet. The best method is adding the authentic Chain ID and Network ID data to your wallet. You can do this through the ChainList app, a widely used EVM-network data aggregator that permits you to join the authorized Hedera network. You can follow this blog for a comprehensive breakdown of how to begin.
Introducing Hedera
Hedera is one of the leading ETH Virtual Machine-compatible Layer1 blockchains that uses a creative consensus mechanism known as hashgraph to provide secure, rapid, and decentralized transactions. It allows the implementation of smart contracts, generating a platform for developing decentralized apps that provide higher security, scalability, and efficiency. Hedera is a foundation for creating DeFi (decentralized finance) apps, gaming platforms, supply chain management systems, and other creative solutions that can change industries.
Also Read: How to Install MetaMask Wallet: A Step by Step Guide
Services Provided by Hedera
Hedera allows developers to create decentralized apps using three key services: Consensus, Smart Contracts, and Tokens, via the user-friendly API and community-supported/officially supported SDKs.
Smart Contracts
Smart contracts play an important role in establishing the trust layer of the internet. Utilized to handle autonomous logic that does not depend on a centralized intermediary, custom governance model, or server, smart contracts can support decentralized apps. The Hedera Smart Contract feature allows users to program in Solidity and uses the Besu EVM (ETH Virtual Machine).
The Besu EVM has notably optimized for the hashgraph consensus and Hedera network, enabling plenty of transactions every second, predictable and low cost, a carbon-negative footprint, and amazing performance at 15 million gas every second.
Hedera Consensus Service
The Hedera Consensus Service provides apps direct access to the security, native speed, and just ordering guarantees from the hashgraph consensus algorithm. This service allows users to send texts to the Hedera public ledger for ordering and time-stamping. Also, the users can encrypt the contents, confirming the ability of an app to preserve the users’ privacy and prevent the publishing of PII.
Texts can involve essential, actionable data, events like the fund transfer settlement, user involvement in the advertising platform, monitoring of provenance in the supply chain, and much more. These ordered texts will discharge to mirror nodes for processing the consensus order through Hedera for verifiable and tamper-proof logging of disparate participants, transactions, and systems with a real-time view of app events.
Token Service
The original Hedera Token Service allows apps to perform minting, configuring, and managing non-fungible and fungible tokens on Hedera. The tokens available on Hedera achieve 10,000 transactions every second, settle with finality instantly, and cost 0.0001 USD, paid in HBAR, to send.
Creators control accounts and tokens on Hedera, with token and key configurations that provide flexibility for account freeze, KYC verification, token transfer, supply management, and more. For complete L1 programmability, users can integrate any token minted through Hedera Token Service into their Solidity smart contract.
How Does Hedera Function?
Dr. Leemon Baird, Chief Scientist and Hedera Co-founder, has built Hedera on the hashgraph distributed consensus algorithm. The key elements of the consensus algorithm are virtual voting and the gossip protocol, also called gossip about gossip.
Also Read: How to Add Bitcoin Network to MetaMask Wallet
When a node obtains data, they communicate it with another random node. Then, they gossip about it, an event known as gossip sync. Both these nodes maintain the record of the gossip sync, which consists of a time-stamp, a set of data, two hashes of the two events under the transactions, gossiping, and a virtual signature. Each record is about who communicates with whom and in which the hashgraph has collected the order. By providing details about the order, the transactions then interest into the ledger without creating the blocks. However, each node should agree.
This is where digital voting comes into use. Although the gossip protocol confirms each node knows about the events in the network, they still have to approve the order. Instead of transferring votes to each other in one or more rounds, the nodes can check the votes of others through the copies of the hashgraphs they own and apply for an algorithm, a virtual voting algorithm.
Because of the integration of virtual voting and gossip about gossip, the network can conclude a consensus by approving both the validity of each transaction and the time-stamp in a few minutes, which enables thousands of transactions every second initiated by the network.
Does MetaMask Support Hedera?
Hedera is an EVM-compatible alternative L1 blockchain network that can execute ETH-based smart contracts, enabling it to connect seamlessly with the MetaMask Wallet. To connect Hedera to MetaMask, provide the verified Chain ID and Network ID through an EVM-network aggregator such as ChainList.
Guide to Add Hedera to MetaMask
Through ChainList App
The best straightforward method to add Hedera to MetaMask Wallet is the ChainList platform, which confirms that users are connecting to validated RPC endpoints. The following procedure will guide you through adding your wallet to Hedera.
- Move to the official ChainList website and connect the MetaMask Wallet.
- Next, you should look for Hedera using the top search box.
- Then, hit the Add to MetaMask button below the Hedera Mainnet tab, and the authenticated RPC data will automatically add to the extension.
Via MetaMask Wallet
- Launch the MetaMask Wallet extension on your desired device.
- Then, tap on the Multicolor Circle icon on the top right side of your screen.
- Next, you should choose Settings > Neworks> Add Network options.
- Now, input the desired Network Name.
- After this, you must provide the New RPC URL to connect.
- Then, input the correct Chain ID, confirm you don’t see any error message and that the ID matches.
- Lastly, specify the Currency Symbol and complete the procedure.
Also Read: HashPack Wallet for Mobile and Desktop 2023
Bottom Line
Users can add the Hedera network to the MetaMask Wallet via the authorized Chain ID and Network ID data using the ChainList app. Being an EMV-compatible alternative L1 blockchain, Hedera provides rapid, decentralized, and secure transactions, making it an excellent foundation for developing creative solutions across different industries.
