Cardano creator Charles Hoskinson says new crypto wallet could take ecosystem to 1,000,000,000 users
Cardano (ADA) creator Charles Hoskinson says a new crypto wallet could help bring the smart contract platform to a billion users.
In a recent interview on the Big Pey podcast, Hoskinson says the new Lace wallet will help onboard droves of new users to the Ethereum (ETH) rival’s ecosystem.
Lace, built by Cardano developer Input Output Hong Kong (IOHK), is a lightweight multi-chain crypto wallet that aims to seamlessly connect everything in Web2 and Web3 into a single interface.
Lace would also allow users to create decentralized identities (DIDs), or verifiable credentials linked to one’s crypto wallet.
“So about last year we said, ‘Let’s start a research project to imagine what portal and interface to everyone [Cardano’s] use cases would look, to go beyond what a regular 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…
Now lace as a product is starting to enter the market. It is one of our first commercial B2C (business-to-consumer) products and is therefore not a reference client. It’s not like Daedalus, which is a neutral playground, but rather this is IOG’s view of how crypto should be done, and our hope is that it will kind of push the standards for our entire ecosystem.”
Hoskinson says Lace is not only a cross-chain wallet compatible with other digital assets like Bitcoin (BTC) and Ethereum, it also has a browser-based interface that will eventually make its way to smartphones.
According to Hoskinson, Lace was conceived as an idea to get one billion users on the Cardano blockchain.
“So I thought a lot about how do we get Cardano to a billion users. How do we get the ecosystem to become the world’s financial operating system?
And some of it 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 to market. Other parts of it are, ‘What is the consumer interface?
What’s the portal that a billion people want to do things on, whether they’re playing with NFTs, issuing assets, doing DeFi stuff, or playing video games?’
Cardano trades for $0.35 at the time of writing, fixed on the day.
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