- Cardano introduces new multi-chain wallet dubbed Lace.
- Founder Charles Hoskinson expects the wallet to help the ecosystem hit a billion users.
- Lace will boast cross-chain capabilities.
According to Charles Hoskinson, founder of the smart contract platform Cardano (ADA), a new crypto wallet might help the network reach a billion users. In an interview with the Big Pey podcast, Hoskinson has predicted that the new Lace wallet will bring in hordes of new users for the Ethereum (ETH) competitor’s ecosystem.
Lace is a lightweight multi-chain crypto wallet created by Cardano developer Input Output Hong Kong (IOHK) that promises to effortlessly link everything in Web2 and Web3 to a single interface.
Users of Lace would also be able to make use of decentralized IDs (DID), which are credentials that can be verified and linked to the cryptocurrency wallet.
The new wallet is still under development, but once it is released, it will serve as the “world’s financial operating system.” With Lace, users will have access to a plethora of novel use cases, NFTs, DeFi protocols, on-chain games, and more.
The new cryptocurrency wallet is a game-changer for the Cardano ecosystem since it unifies identities, transactions, and apps into a single, streamlined experience. According to Hoskinson, Lace is built on legacy and cutting-edge technology.
Commenting on the development, Hoskinson said:
Now, Lace as a product is starting to come out into the market. It’s one of our first commercial B2C (business-to-consumer) products, and so it’s not a reference client. It’s not like Daedalus, which is a neutral playground, but rather, this is IOG’s view of how crypto ought to be done, and our hope is that it’s going to kind of push along the standards for our entire ecosystem.
According to Hoskinson, Lace is a cross-chain wallet that can store digital assets from a variety of blockchains, including Bitcoin (BTC) and Ethereum. It also features a browser-based interface that will be ported to mobile devices in the near future.
The cryptocurrency wallet will go from the demo stage to the beta stage soon, although Hoskinson was careful not to set any timelines.
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