- Cardano founder Charles Hoskinson announces the integration of the Web3 wallet platform Lace and the Web3 Brave browser.
- Lace Wallet is completely open source and embraces the principles of collaboration, transparency, and decentralization in the Web3 ecosystem.
On Tuesday, June 13, Cardano founder Charles Hoskinson announced his support for Lace, a Web3 wallet platform developed by parent group Input Output Global (IOG), as part of its Venture Studio Model.
The announcement from Hoskinson shows that the Lace wallet now supports the private Web browser Brave, available across PC, Mac, and mobile.
Brave Support for Lace! https://t.co/t2de5fVxbM
— Charles Hoskinson (@IOHK_Charles) June 13, 2023
The Lace wallet incorporates the common principles for Web3 i.e. collaboration, full transparency, and the creation of a decentralized ecosystem. It seeks to redefine how users interact with Web3. The Lace wallet is multichain and makes the Web3 experience simplified and accessible for all. With these key areas of focus, the integration of the Brave browser seems to be the right step.
Crypto wallets have played an important role in allowing users to store and access their digital wallets securely. Today, cryptocurrency wallets are available in several different formats such as hot wallets i.e. mobile and desktop software as well as cold wallets i.e. hardware (USB-like) devices.
Daedalus, is Cardano’s open-source full-node wallet and a desktop program that can completely sync with the Cardano blockchain network. It is a full-node implementation by Cardano’s parent group Input Output Global (IOG).
Earlier this year in April 2023, Lace introduced its wallet 1.0 version. Last month in May, the company introduced a new iteration 1.1.1 featuring support in the case of forgotten passwords along with 12- to 15-word recovery phrases and balances viewable in multiple fiat currencies.
Lace Wallet Goes Completely Open Source
IOG’s founder Charles Hoskinson has been one of the biggest advocates of the open-source platform. This is because such platforms ensure credibility while enhancing the credibility of the software’s security features.
Lace has been created with specific principles in mind to ensure sustained growth and increased trust. It has undergone thorough audits by the cybersecurity company FYEO.
The light wallet platform of Lace is open source, which means that anyone can examine the source code independently and transparently. This allows people to evaluate its legitimacy and even contribute to its development or translate it into different languages.
The reason for this full transparency is to address the concerns of scams and scandals in the crypto space. By providing a platform that is open source, individuals can assess the source code themselves and decide whether to trust the brand. Open source also enhances authenticity, and most importantly, security.
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Lace follows the footsteps of Cardano’s Daedalus wallet, which is also open source. IOG’s products are built upon the principles of Web3, emphasizing collaboration and decentralization.
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