Cardano developer, IOG (Input Output Global), has announced the launch of Lace 1.0, the first mainnet release of the light wallet platform on the Cardano network. Lace is a fast, secure, and easy-to-use Web3 platform designed to bring the world together. It has been independently audited by a third party, making it easy to discover and enjoy digital experiences.
Cardano is a blockchain-based smart contract platform that aims to compete against similar platforms such as Ethereum, Tezos, and EOS. Its native cryptocurrency, ADA, is named after Ada Lovelace, a 19th-century writer and mathematician. Cardano’s development is backed by three companies: IOHK, the Cardano Foundation, and Emurgo.
IOHK is a blockchain R&D company founded by Charles Hoskinson and Jeremy Wood, while the Cardano Foundation is a nonprofit dedicated to Cardano adoption and development.
Lace has the same academic rigor and robust engineering as other IOG projects, and with community participation and beta testing, the same values of open collaboration are present. Lace 1.0 allows users to send and receive Cardano digital assets, stake their ADA, send multiple assets in one transaction, and enjoy added security with hardware wallet integration.
Additionally, users can connect to NFT marketplaces, DApps, and DeFi services through the DApp connector. Furthermore, users can stake their ADA to contribute to the security of the Cardano network. After months of testing, refining, and listening to feedback from the community, the Web3 platform is ready to go.
Users can access and use Lace as a browser extension from the Google Chrome web store.
Cardano and the future of Lace
Cardano blockchain announced in March 2023 that users of the blockchain will soon have access to Ethereum Virtual Machine smart contracts with any Cardano (ADA) wallet. This expected development which will be activated after the launch of Milkomeda, a protocol that connects blockchains such as Cardano and Algorand to EVM contracts, will expand the usefulness of Cardano.
Apart from the Lace wallet released by IOG, Lace said it’s working on a DApp store, desktop app, and digital identity solutions. Lace added that it is developing fiat on/off ramps, in-wallet swaps, an advanced multi-delegation system, and a portfolio view for all users.
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