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Cardano Prepares to Launch Its “One-Stop Shop” Light wallet, Lace

Input-Output Global (IOG), the development team behind the Cardano ecosystem and the ADA token, has announced the launch of its first light wallet, Lace. 

Features of the Cardano Light Wallet

Lace, Cardano’s first light wallet, has received high praise ahead of the app’s official roll out by IOG. Lace will allow users to store, control and manage crypto assets and non-fungible tokens all in one place. 

IOG explains that the goal is to turn Lace into a full-fledged “one-stop-shop” wallet. Another key aspect of Lace is its interoperability, and the ability to use different blockchain ecosystems. 

Although it will be launching with limited interoperability between the Cardano and Ethereum networks, IOG has promised to work to implement other sidechains, and eventually connect Lace to all other blockchains. 

Lace: The Portal into Web 3.0

Lace allows anyone to access the potential of the Web 3.0. To achieve this, the IOG has seen to the provision of a free, decentralized app (dApp) store, which will have facilities both for developers and regular users. 

End users will also be able to access the limitless world of dApps through Cardano, acting as an alternative to the iOS and Android apps that carry the corporate burden of centralization.

IOG explained that Lace was designed without all the crypto jargon, with heavy emphasis placed on keeping the app easy to understand and navigate by newcomers and seasoned crypto users alike.

On the Flipside

  • IOG recently announced a delay to the launch of the much-anticipated mainnet hardfork of its network, Vasil.

Why You Should Care

Unlike other light wallets, which are typically limited to a single chain, IOG has designed Lace to be a one-stop solution with multi-blockchain support.

Learn more about sidechains and interoperability with Cardano below:

Cardano Launches New Permissionless EVM Sidechain on Testnet

For details of the Vasil hard fork, check out:

Cardano’s Vasil Hard Forked Delayed – IOG Announces New Launch Date

The latest price predictions for the ADA are also covered in:

Cardano (ADA) Expected to Hit $1 After Vasil Hard Fork, Says Community Vote

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.