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Cardano Ecosystem

Crypto News Flash (EN)

12/12/2023

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Cardano Taps IOTA's Billion-Dollar Identity Market With Launch of Identity Wallet for ADA and Other Blockchain Networks

Introduction of the W3C-compatible mobile wallet by the Cardano Foundation, enhancing user security and interaction with DApps. Cardano’s market price shows potential for growth through major advancements and...

Cardano Taps IOTA's Billion-Dollar Identity Market With Launch of Identity Wallet for ADA and Other Blockchain Networks

Cardano

  • Introduction of the W3C-compatible mobile wallet by the Cardano Foundation, enhancing user security and interaction with DApps.
  • Cardano’s market price shows potential for growth through major advancements and integrations within its ecosystem.

In September 2021, CNF highlighted Cardano’s breakthrough in integrating certified DApps into its network, a development poised to potentially trigger a significant rally. Building on this momentum, the Cardano Foundation is now enhancing its platform by introducing a new, unique feature: the W3C-compatible mobile wallet.

This advanced addition not only facilitates seamless interactions with Cardano’s DApps but also significantly improves user security through enhanced self-identity verification.

This article will explain the updated features of the W3C-compatible mobile wallet, guiding you on how to derive maximum benefit from your blockchain interactions and investments. This aligns with the key insights highlighted in a recent tweet by the Cardano Foundation.

🎊 New Product Launch 🚀

Introducing the Identity Wallet developed by the Cardano Foundation –  a W3C-compatible mobile wallet that manages self-sovereign identities across Cardano and other blockchain networks

Key benefits: 
🔹 Supports multiple identity and credential… pic.twitter.com/npF85QEuY8

— Cardano Foundation (@Cardano_CF) December 11, 2023

Empowerment of Your Digital Identity

The W3C-compatible mobile wallet prioritizes security, privacy, and interoperability to drive adoption and support existing ecosystems. This wallet encompasses the following key benefits:

  1. Supports multiple identity and credential standards
  2. Securely manage digital assets
  3. Seamless – Interact with DApps on Cardano
  4. Lowers entry barriers for new users
  5. Interoperability across ecosystems
  6. Integrates Key Event Receipt Infrastructure (KERI) for enhanced interoperability

With this newly launched platform, the community now has a diversity of choices in the Cardano ecosystem. Positive reactions fill the Cardano tweet as enthusiasts of the feature, including the DeFi platform, Genius Yield official, which also adds the benefits for ADA as DIDs play a vital part in moving the ball forward for our ecosystem and the web3 space at large.

This is big news for the $ADA! DIDs play a vital part in moving the ball forward for our ecosystem and the #web3 space at large.

With DIDs #Cardano can become more than just a blockchain, but an actual banking layer! Opensource for both Android and iOS!

Congrats team!

— Genius Yield official (@GeniusyieldO) December 12, 2023

Cardano enhancement and market price with IOTA interoperable

Furthermore, CNF previously reported that through initiatives like DeFi, TangleSwap, and IOTA Forge, a path for interoperability on Cardano has been established. In addition, updates from last October indicated that despite significant developments within its ecosystem, Cardano had not experienced a notable rally in the preceding weeks. It was anticipated, as per CNF’s October 2023 report, that Cardano would reach the $1 mark before the year’s end.

As of the time of this writing, ADA is trading at $0.5963, up 7.59% after some fluctuations, which you can observe in its overall performance on the chart below.

The newly updated W3C-compatible mobile wallet brings promising benefits, which I view as potentially pivotal in attracting more investments and aiding ADA in reaching its end-of-year goals.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

About Author

Collin is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Collin endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Collin's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Collin's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Collin continues to be a driving force in the cryptocurrency community.

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