Cardano Targets 1 Billion Users with Upcoming Multi-Chain Wallet Lace

According to Charles Hoskinson, founder of smart contract platform Cardano (ADA), a new crypto wallet could help the network reach one billion users. In an interview with the Big Pey podcast, Hoskinson predicted that the new Lace wallet will bring armies of new users to the Ethereum (ETH) rival's ecosystem.

Lace is a lightweight, multi-chain crypto wallet created by Cardano developer Input Output Hong Kong (IOHK) that promises to effortlessly connect everything on Web2 and Web3 into a single interface. Lace users will also be able to benefit from decentralized identities (DID), which are credentials that can be verified and linked to the cryptocurrency wallet. The new wallet is still under development, but when it launches, it will serve as "the world's financial operating system". With Lace, users will have access to numerous new use cases, NFTs, DeFi protocols, on-chain gaming and more. The new cryptocurrency wallet is a game-changer for the Cardano ecosystem as it unifies identities, transactions and applications into a single, modern 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 on various blockchains, including Bitcoin (BTC) and Ethereum. It also has a browser-based interface that will be ported to mobile devices in the near future. Although Hoskinson was careful not to set any timeline, the cryptocurrency wallet will soon move from the demo phase to the beta phase. Source: Coin Edition Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!