Cardano Founder Announces New Wallet From IOG

IOG has released a new light wallet platform for Cardano users.

Charles Hoskinson, Cardano Founder and famous crypto entrepreneur, announced the mainnet launch of Lace, a light wallet platform for the Cardano ecosystem.

The wallet’s official Twitter handle first announced Lace’s launch. An hour later, Cardano’s founder reacted to the post, saying: 

Lace is out! https://t.co/4JIYSogGeO

— Charles Hoskinson (@IOHK_Charles) April 11, 2023

Lace’s mainnet release comes following months of beta testing and feedback from members of the Cardano ecosystem, the team said in an announcement. 

Lace is the first native wallet for the Cardano ecosystem. It was developed by the research and development arm of Cardano, Input Output Global (IOG). 

Features of Lace Wallet

The cryptocurrency wallet has similar features to MetaMask and Trust Wallet, especially a web3 browser. However, Lace’s primary focus is to give ADA enthusiasts direct access to Cardano-based decentralized applications (dApps).

– Advertisement –

Through Lace, users can send and receive digital assets, including ADA, Cardano-based NFTs, and other tokens. Aside from sending and receiving Cardano-based assets, users can also stake their ADA tokens using Lace, thus contributing to the network’s security.

Using the “bundle transaction feature,” users can send multiple assets to different addresses in one transaction. The feature helps users to save costs, as they will only be required to pay a meager fee for each bundle transaction.

At the moment, Lace is only available as a browser extension. The team is currently making plans to develop a desktop app for the wallet. The team is yet to disclose plans to launch on mobile.

Despite the wallet’s existing feature, Lace developers have announced plans to roll out in-wallet swaps, dApp store, fiat-to-crypto on-ramps, and multi-delegation in future releases.

– Advertisement –