Cardano Integrates With Brave Wallet As $275M ADA Allocation Plan Gains Flak
Brave Wallet now supports ADA and other Cardano assets, thanks to its partnership with the Charles Hoskinson-led IO. Meanwhile, the crypto community negatively reacted to Cardano’s plan to allocate $275...
- Brave Wallet now supports ADA and other Cardano assets, thanks to its partnership with the Charles Hoskinson-led IO.
- Meanwhile, the crypto community negatively reacted to Cardano’s plan to allocate $275 million for its proposed budget plan for ecosystem growth.
Cardano seems unrelenting in its expansion through strategic partnerships. Recently, Brave Wallet, the official cryptocurrency wallet of the privacy-first Brave browser, announced its support for ADA. The latest development comes hot on the heels of Cardano’s partnership with Brave Software through Input|Output (IO).
The update revealed on May 12 not only offers ADA token compatibility with the Brave multi-chain wallet. It also opens the platform to other Cardano assets or tokens minted within the chain, like the popular Snek, World Mobile Token, Sugar Bush, Fluid Tokens, Revuto, and more.
A Boost in Brave Wallet’s Features
According to Brendan Eich, CEO and co-founder of Brave and the Basic Attention Token (BAT), the partnership with Cardano underscores their company’s commitment to building a Web3 that maximizes interoperability at the benefit of users. In addition, he stated that the integration offers users better tools to engage with decentralized ecosystems.
Besides the boost in accessibility and flexibility brought about by the multi-chain infrastructure, he claimed the new collaboration enhances security, governance participation, and user experience.
Cardano and Brave Wallet’s Partnership is a ‘Natural Fit’
For Charles Hoskinson, CEO of IO, the company behind the Cardano blockchain, the matchup is a “natural fit.” He explained that the partners’ vision aligns with their goal of making Web3 more secure, accessible, and “user-respecting.”
Moreover, Hoskinson highlighted that the move paves the way for a new blockchain standard that truly empowers individuals, protects their privacy, and allows them to actively steer the direction of Cardano and Brave Wallet’s ecosystems. The partners believe that their progress opens up more possibilities for innovation that would soon trickle down to the ZK (zero knowledge)-infused Midnight side-chain.
Cardano’s $225M Budget Proposal
In related news, Cardano recently proposed allocating $275 million worth of its funds to finance developments within its ecosystem. People’s reactions were mixed about the prospect. Some agreed, but others, like the pseudonymous Cardano Whale, opposed the measure. In fact, the popular crypto personality pointed out that he voted against it.
The Cardano supporter considers the proposition to be wasteful and unnecessary. Likewise, he warned that the approval of the proposal would spell inflation, which could eventually dilute ADA’s price. Its poor implementation could also open Cardano to risks and fraudulent activities.
Proponents of the proposal dispelled the Cardano advocate’s arguments. Some suggested that proper management procedures could cushion the ensuing sell pressure in the long run.
Furthermore, Hoskinson asserted that the chain is in danger of falling behind if its community is unwilling to embrace calculated risks or “make some bigger bets.”
What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Giancarlo is an economist by profession with a career spanning nearly two decades. His professional journey has seen him assume vital roles in various government and private organizations such as the Department of the Interior and Local Government (DILG), the National Economic and Development Authority (NEDA), Megaworld Corporation, and the China Banking Corporation in the Republic of the Philippines. In addition to his civic and corporate pursuits, his forward-thinking approach has led him to manage several prominent websites in the banking and finance sector, notably the Australia-based RateChoice, where he immersed himself in the world of emerging financial technologies and where he found particular interest in Bitcoin all the way back to 2013. Prior to his addition to Blockzeit’s dynamic team, he held an essential role as Project Manager for initiatives encompassing blockchain, stablecoin, mining, special economic zone development, and iGaming. This noteworthy chapter in his career unfolded under the auspices of InPlan Consultancy Services, Inc., the think-tank of IMPERO Consortium Management Corporation headquartered in Manila, Philippines, and Tokyo, Japan. InPlan, led by a distinguished retired Cabinet member of the Philippines, collaborates directly with IMPERO's core management team, contributing to strategic planning and business development endeavors.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
