Cardano’s Charles Hoskinson Says New Crypto Wallet Could Attract Billion Users To Crypto

Cardano’s Charles Hoskinson Says New Crypto Wallet Could Attract Billion Users To Crypto.

According to Cardano’s creator, Charles Hoskinson, an upcoming crypto wallet may help make the smart contract platform more accessible to billions of people.

Charles Hoskinson On New Crypto Wallet Called Lace

As Hoskinson explains on the Big Pey podcast, the Lace wallet will bring in a large number of new users to Ethereum’s rival ecosystem.

The Lace wallet, created by Cardano developer Input Output Hong Kong (IOHK), integrates Web2 and Web3 into a single interface.

Users of Lace would also be able to create decentralized identities (DIDs), or verifiable credentials linked to their crypto wallets.

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“So about last year, we said, ‘Let’s start a research project to imagine what a portal and interface to all of [Cardano’s] use cases would look like, to go above and beyond what a normal cryptocurrency wallet does,’ so [we came up with] an identity-first wallet with full-node security, but light enough to be on a phone. It was a very ambitious project…,” he 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,” added him.

The New Wallet Equipped with a Browser-based Interface

Aside from being a cross-chain wallet that supports Bitcoin (BTC) and Ethereum, Hoskinson says Lace also has a browser-based interface that will eventually roll out to smartphones.

As Hoskinson describes it, Lace was conceived to bring a billion people on the Cardano blockchain.

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“So I thought a lot about how we get Cardano to a billion users. How do we get the ecosystem to become the world financial operating system?,” he said.

He further explained, “And some of that is just good old fashioned hardcore protocol design where you do the science, you do the engineering, you build great protocols and get those protocols into market. Other parts of that is, ‘What is the consumer interface?

What is the portal upon which a billion people will do stuff, whether they’re playing with NFTs, issuing assets, doing DeFi things, or playing video games?.”

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Jamilatul Mahmudah

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