IOG, the Cardano developers, has announced the release of Lace 1.0, the network’s first lightweight wallet platform. Lace was designed to be quick, safe, and simple in order to connect the world through web3.
It has been independently audited, and it was created with community feedback and beta testing. Among other digital assets, Lace 1.0 supports sending and receiving ADA, Cardano NFTs, and Cardano native tokens.
Cardano (ADA) users can stake their coins to protect the network and earn rewards. Using the bundle transaction functionality, users can deliver multiple assets to multiple recipients for a single transaction cost. Lace can be used in conjunction with a hardware wallet as an extra precaution.
The price valuation of ADA has increased by 4% within 24 hours of this new development. The dApp connector simplifies access to NFT markets, dApps, and DeFi services across web3. To get started with Lace 1.0, go to the official website at lace.io and download the Chrome extension.
What is Lace?
As part of Lace’s development plans, the team is working on a dApp Store, desktop app, and digital identity solutions. Soon, the team hopes to implement Fiat on/off ramps, in-wallet swaps, staking with multi-delegation, and portfolio views.
As an IOG creation, Lace is held to the same academic standards and engineering standards as the rest of the brand’s products. IOG initiatives are characterized by open, collaborative ideals.
Lace 1.0 is a watershed moment in the development of the Cardano network and the web3 ecosystem. As society moves towards a more decentralized future, applications like Lace will be critical in making blockchain technology more accessible to the general public.
Cardano’s new Lace 1.0, which aims to unite the world on web3, is an exciting development that portends a more decentralized future.
Lace’s intuitive design, built-in security measures, and ability to work with other Web3 applications can attract more people to the blockchain ecosystem.