The research and development firm behind Cardano, Input-Output, will soon launch its own light wallet called ‘Lace’. As per the blog, the wallet platform will help users to majorly manage, control and store their cryptos and NFTs in one place.
At the Consensus 2022, Cardano’s founder Charles Hoskinson also revealed that the team is in the process of developing Lace for about 6-7 months. The wallet will help in widespread adoption by providing improved functionalities to crypto users which includes simple, speedy and seamless flows.
As hinted by the executive, Lace will bring along new features that would be launched periodically. Thus, helping in the continual evolution of wallet.
Infact, users can also expect Lace to support identity and voting on Cardano for ensuring personal data of users remains protected in a decentralized way.
“So what’s so beautiful is we’ve been able to marry the formal methods and the really rigorous stuff that’s been done by the Cardano infrastructure engineers with a web approach where we can get features out every six to nine weeks. So, when you look at Lace, it evolves over time.”
Lace will offer some of these utilities:
- Securely storing your funds
- Transactions and making payments
- Storing and viewing your NFTs
- Delegate stake
- Interaction with different DApps.
Over time, users can expect Lace to use different Cardano products for a fusion of several features into a cohesive user experience. Features including integration with Atala PRISM for identity and personal data management, and Project Catalyst for easy registration and voting might be expected too.
In future, Lace will also include integration with EVM sidechains (for Ethereum developers to easily improve the robust and verifiably safe infrastructure of Cardano) and Hydra – for scalable and cost-efficient transactions.
Lace will be different from IOG’s Daedalus wallet as the latter implements IOG’s full node and is a desktop based app that fully synchronizes with the blockchain history.
Daedalus uses a considerable amount of resources and takes longer to sync because it holds a full copy of the blockchain. Hence, a full-node wallet might not be a perfect choice for users needing quick access to their assets. That’s where Lace fits in!
