Lace Wallet: Everything We Know About IOG’s New Wallet for Cardano

On June 9, 2022, IOG technical writer Olga Hryniuk released a blog post revealing that IOG is working on a new wallet — a wallet Hryniuk describes as a “one-stop-shop for all blockchain operations.” Daedalus was IOG’s first implementation of a full node wallet. However, Daedalus is notorious for its slow synching times, high resource consumption, and is relatively difficult to use.

Lace aims to solve these problems and introduce some radically new features. This new lightweight wallet will allow users to efficiently and easily:

• Safely store your funds

• Send your funds to others and make payments

• Store and view your non-fungible tokens (NFTs)

• Stake your ADA to pools

• Search for and utilize different DApps

  

  

Lace also plans to support voting for proposals on the Cardano network later in the future, especially as adoption for Cardano grows. Prospective voters can still use Project Catalyst to support, vote, and collaborate today.

“While initially the light wallet is built for the Cardano blockchain, the long-term goal is to make it blockchain-agnostic. Interoperability is key to ensuring widespread blockchain adoption, and therefore Lace plans to evolve to support many other blockchains along with a variety of cryptocurrencies.” — IOHK.io

Most notably, Hryniu makes it clear that this light wallet aims to support widespread interoperability between various blockchains, support for other cryptocurrencies within the wallet, and, more specifically, integration with Atala PRISM (for personal info management) and EVM sidechains (for scalability). Overall, Cardanians should be excited about a robust new wallet from one of Cardano’s main developers, IOG.

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