Charles Hoskinson Introduced Lace, A Lightwallet platform At The Consensus 2022 event

Although, the Cardano postponed the major launch that was to take place this month to the next due to some crucial reasons as made known on their official website.

The launching of Vasil Hard Fork is postponed till the last week of July for easy deployment, according to the Cardano team, the launching could not hold due to some tests to be run on the setup before its release.

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The Cardano team is resilient about developing the ecosystem.

Input-Output, the official development company behind the Cardano blockchain, revealed a video from the Consensus 2022 event, where IOHK CEO, Charles Hoskinson Introduced Lace.

At the Consensus, Cardano’s founder, Charles Hoskinson said that the Lace team had been working on the wallet platform for the past 6-7 months. However, the wallet is still under development.

What is Lace?

Lace is a light wallet platform for speed and simplicity and aims to deliver a seamless flow. The cryptocurrency wallet is in development. Although, it focuses to drive adoption via the delivery of enhanced capability and ease of use.

More also, users are allowed to keep their NFTs as well, and it is constructed via the help of a side chain solution from Cardano’s development team.

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It is important to note that IOG had an already existing node wallet called Daedalus.

Why Lace when there is Daedalus.

Daedalus;

• Consumes a lot of resources.
• Also takes a longer period to synchronize.

Cardano’s  founder notes;

“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.”