ConsenSys has announced the launch of a new Smart Transactions feature that is now available to all users of their MetaMask Web 3.0 crypto wallet worldwide. This new feature will improve transaction efficiency, reduce gas costs, and protect users from MEV bot attacks.

Smart Transactions technology ensures the confidentiality of user transactions until they are confirmed in the blockchain, which prevents possible sandwich attacks and frontrunning from bots. Users will also be able to increase the number of successful transactions and reduce commissions, thanks to the ability to simulate transactions through the special MetaMask service and monitor the status of transactions in real time directly in the wallet.

According to ConsenSys representatives, during beta testing, this technology achieved a 99.5% transaction success rate, which is significantly higher than industry standards. Industry experts note that in 2023 alone, users spent over 52,000 ETH on failed transactions, valued at about $153 million to date.

According to EigenPhi, during the same period, users suffered damages from MEV bot attacks amounting to 124,000 ETH, which is estimated at more than $350 million. ConsenSys plans to continue improving this technology in the coming months, as highlighted by Gal Eldar, chief product officer at MetaMask, adding that “these improvements are critical to unlocking the full potential of Ethereum and Web 3.0.”

Eldar also noted that sending transactions to the distributed ledger is complex and often unpredictable, which can lead to financial losses due to attacks, bounces, and block overpayments. “Over time, it became obvious that we could do a better job and address these issues directly,” he concluded. ConsenSys previously faced claims from the SEC for violations of securities laws in connection with its cryptocurrency exchange and staking services