Most users are familiar with utilizing Metamask on the Ethereum blockchain to trade coins or assets.
It is not possible to add Solana to MetaMask because MetaMask runs on the Ethereum blockchain and Solana (SOL) is a Solana blockchain-based token.
There are different wallets running on the Solana blockchain, like Phantom which has similarities with the MetaMask’s interface and supports Solana token.
Solana is a “decentralized blockchain” designed to allow globally accessible, user-friendly applications.
Solana is the “world’s fastest blockchain” and the “fastest-growing crypto ecosystem,” which is immune to restriction.
In other words, the system will stay available for apps to run openly and payments will not be halted.
It has its own native cryptocurrency named Solana or SOL token and it functions as a “utility token.”
While initiating transactions or engaging with “smart contracts,” users must pay processing fees in SOL.
In accordance with its “deflationary strategy,” the blockchain burns SOL.
Owners of SOLs will also become “network validators.” Solana, like Ethereum, enables developers to establish “smart contracts” and blockchain-based projects.
In this article the concept of SOL token and if we can add it to MetaMask wallet or not, is described.
Can You Add Solana To MetaMask Wallet?
No, you cannot add Solana on the “MetaMask wallet” because Solana token (SOL) is a Solana blockchain-based token and MetaMask runs on Ethereum blockchain.
However, Metmask may incorporate additional blockchains in the future.
Phantom, on the other hand, is undoubtedly the right alternative if users want to use a wallet that has the same appearance and feels as Metamask.
Steps to add Solana to Phantom Wallet:
Step 1: Navigate to https://phantom.app/ and select the “Add to Chrome” button (Phantom wallet supports other browsers)
Step 2: If you already have an account, select “create new wallet” or use the “secret recovery phrase.” If you need to make a “new wallet“, therefore you have to select “create a new wallet.”
Step 3: Make a “copy of your secret recovery phrase” and keep it somewhere secure; do not ever share it with anybody.
Step 4: Set a “password” and then click “Finish” to conclude the procedure.
Step 5: In the browser, select the “phantom icon.”
Step 6: To securely exchange “Solana,” click the “send” or “receive” icon.
Is Solana An ERC20?
No, Solana (SOL) is not an ERC20 because the Solana token is on the Solana blockchain which has its own token standard named SPL.
ERC20 is the token standard on the Ethereum blockchain.
Solana is the fastest decentralized blockchain in the world and it is also the fastest-growing crypto ecosystem.
The blockchain is immune to restrictions meaning the system will remain operational allowing applications to function freely, and payments will not be suspended.
SOL token is the native cryptocurrency of the Solana blockchain which is used as a utility token.
The SOL token holders are allowed to become network validators.
SOL token cannot be added to the MetaMask wallet because MetaMask is an Ethereum- based crypto wallet that does not support any other blockchain-based crypto tokens like SOL.
SOL tokens can be added to other wallets like a Phantom Wallet or any other Solana blockchain-based crypto wallets.
ERC20 is the token standard for Ethereum blockchain which means SOL token is definitely not an ERC20.
The token standard for SOL tokens is SPL which is the token standard for the Solana blockchain.