Cardano launches Lace to give people most secure place to store their ADA fortune – Report

  • The Lace light wallet platform allows users to send multiple assets to different addresses by paying just a single transaction fee.
  • Users can add Lace 1.0 wallet to the Google Chrome browsers with just a click of a button. The Lace team is already working on developing a DApp store, a desktop app, and other digital identity solutions.

On Tuesday, April 11, Cardano founder Charles Hoskinson announced the mainnet launch of a light wallet platform Lace, for the Cardano Input Output Global (IOG). This mainnet release of Lace comes following months of beta testing and multiple changes, feedback, and fixes from developers.

The Cardano IOG has launched the Lace light wallet platform with a focus on the Web3 developments taking place in the market currently. Being an IOG product, Lace comes with robust engineering at its core along with community participation baked into its developments. Similar to other IOG projects, Lace also offers the same core value of open collaboration.

Lace is easy to use and users can just add it to the Google Chrome browser for now and kickstart their Web3 journey. The official announcement from IOG notes:

Lace has one simple mission: to bring the world together on Web3. Fast, secure, and easy to use – and independently audited by a third party – Lace is designed for the whole world to discover and enjoy a new world of digital experiences, effortlessly.

What Can Users Do With Lace 1.0

With the Lace 1.0 version, users can send and receive Cardano digital assets such as the ADA crypto, Cardano NFTs, and other Cardano native tokens. Besides, they can also stake their ADA to contribute to the security of the Cardano blockchain network and thus receive rewards for the contribution.

Interestingly, with Lace 1.0, users can also send multiple assets to different addresses by paying just a single transaction fee. This is because the Lace 1.0 light wallet platform comes with the new bundle transaction feature. Additionally, users of the Lace wallet can enjoy added security along with hardware wallet integration. They can also seamlessly connect to DApps, NFT marketplaces, and DeFi services using the DApps connector.

Adding Lace to the Google Chrome browser is pretty simple. Head on to the official website and click on the ‘Add to Browser’ button.

Cardano’s IOG stated that Lace 1.0 is just the first release and there’s more to come. As the platform evolves, IOG would be releasing regular updates and enhancements in the future. Besides, the Lace team is already working on developing a DApp store, a desktop app and other digital identity solutions.

In its final words, IOG asked users to be aware of any other routes for downloading Lace. It noted: “The Lace light wallet platform is published exclusively by Input Output Global and the browser extension is only available on the Chrome web store. The only official Lace website is Beware of scams – report any suspicious apps or websites to the Cardano Fraud Detection Bureau”.

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About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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