Cardano Daedalus brings a ton of great features to the ADA ecosystem

The team behind Cardano (ADA) continues to make improvements to the network and the latest update has really excited the community. The team has improved Daedalus, among other things. This is a secure wallet for the Cardano ecosystem.

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The improvement of the Daedalus

Input-Output Hong Kong (IOHK), the body behind the development of the Cardano network, has released the latest version of its open-source wallet called Daedalus 4.8.0. The release went live on Feb. 3 and “integrates the latest version of Cardano node v1.33.0,” according to the release notes.

The wallet upgrade has been improved in several areas. For example, this is about small things that it solves. Also, it refreshes the user interface for a smooth experience. The upgrade introduces a welcome screen and allows users to select a add another configuration to the Cardano node runtime system. However, this option is only available for computers with less than 16 GB of RAM. Still, it reduces memory usage and sends prompts with system requirements.

Daedalus 4.8.0 solves problems such as blockchain verification progress. It ensures synchronization is displayed correctly for an improved experience. IOHK has issued a stern warning that Daedalus is a full node wallet and is only available on desktops. Every mobile Daedalus is a scam designed to steal seed phrases and ADA property from users. For an extra layer of protection, users are therefore encouraged to download the wallet from official sources only.

Since the release of the upgrade, ADA is up an impressive 6.25%. Meanwhile, transaction volumes have gained upward momentum, keeping it ahead of Solana. As a full node wallet, Daedalus downloads the entire Cardano blockchain and independently confirms all transactions. Since its launch, the wallet has grown in popularity and plays a key role in the Cardano ecosystem.

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Cardano’s Competition

After Cardano’s stellar run in 2021, where it ranked third by market cap, the asset has been on a downward trend. This is largely due to the resurgence of other chain such as Binance Smart Chain and the growth of stablecoins such as Tether and USD Coin.

The promise of smart contracts on Cardano after the Alonzo upgrade and the energy efficiency of the network generated a lot of publicity for the network. ADA is trading at $1.13, which is down 63.90% from its all-time high of $3.10.

There are currently more than 900 smart contracts live on the Cardano network. However, these are largely focused on DeFi. The network continues to create great partnerships in Africa in an effort to provide Africans with digital identities to take advantage of the new financial system.