- IOHK recently launched a new light wallet platform called Lace.
- IOG has promised to release more updates and enhancements in the future.
- Users can download the Lace platform exclusively from the official website.
On April 11th, 2023, Charles Hoskinson, the founder of Cardano, made a significant announcement unveiling the release of a new light wallet platform, Lace, for Cardano’s parent company, Input Output Global (IOG).
Introducing Lace Wallet: IOG’s Light Wallet Platform for Cardano
Following months of beta testing, development, and constructive feedback from developers, Lace finally made its debut on the mainnet. Lace wallet marks a new era of self-custody, backed by IOG itself. It is their first light wallet platform, and the first version, Lace 1.0, has already gone live on the mainnet.
The launch of Lace is focused on the current Web3 developments that are taking place, and it is backed by robust engineering and community participation baked into its developments. Open collaboration is a core value of all IOG projects, and Lace is no exception.
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As an IOG product, Lace is considered one of the most impressive products to come out of the tech start-up. The wallet’s academic rigor and robust engineering are the same values IOG is known for.
Community participation and beta testing are also baked into its development, a hallmark of all IOG projects. Lace wallet has several capabilities, including sending and receiving ADA and its associated native assets, making it a core feature.
The wallet also facilitates transactions of Cardano-based non-fungible tokens (NFTs) and aids in the staking of ADA as a digital DeFi product. Additionally, they can also stake their ADA to contribute to the security of the Cardano blockchain network and receive rewards for their contribution.
Stay Secure with Lace & Chrome Integration
Interestingly, Lace 1.0 enables users to send multiple assets to different addresses by paying a single transaction fee, thanks to the new bundle transaction feature.
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Users can enjoy added security along with hardware wallet integration. They can seamlessly connect to DApps, NFT marketplaces, and DeFi services using the DApps connector.
Lace can be added to Chrome by visiting the official website and clicking the “Add to Browser” button.
IOG stated that Lace 1.0 is just the first release, and there’s more to come. As the platform evolves, IOG will be releasing regular updates and enhancements in the future. The team is already developing a DApp store, a desktop app, and other digital identity solutions.
On the Flipside
- As with any new software release, unexpected bugs or vulnerabilities may impact users’ digital assets or experience with the platform.
- The Cardano ecosystem already has established online wallets such as Exodus, Daedalus, and Yoroi, which may make it challenging for Lace to gain a foothold.
- While Lace offers seamless integration with DApps, NFT marketplaces, and DeFi services, some users may prefer more privacy-oriented solutions.
Why You Should Care
With its impressive features and robust engineering, the Lace wallet marks a new era of self-custody and security for Cardano users. As an IOG product, Lace’s launch showcases the ongoing development and innovation within the Cardano ecosystem. The launch demonstrates the continued growth and advancement of the crypto industry.
To learn more about the recent Cardano (ADA) whale accumulation, check out this article:
Cardano Whales Amass $218M in ADA Tokens Over Two Weeks
To read about the star-studded crowd at the Crypto.com Arena and the Lakers’ recent playoff spot win, follow this link:
