Logo
Cardano Ecosystem

Elevenews

06/09/2023

·

83 views


Cardano's Lace Wallet Takes Its Codes Public, Is This Right Move? - ELEVENEWS

In April, Cardano launched its light wallet platform Lace in what signifies a strategic product launch to bolster the adoption of the blockchain’s native tokens. The recent update as shared by Lace is that it...

Cardano's Lace Wallet Takes Its Codes Public, Is This Right Move? - ELEVENEWS

In April, Cardano launched its light wallet platform Lace in what signifies a strategic product launch to bolster the adoption of the blockchain’s native tokens. The recent update as shared by Lace is that it has transformed into a decentralized open source light wallet platform. By publishing its codes for the world to see, Cardano says it is building on Web3.0’s core principles of collaboration, full transparency and decentralization

Lace is here, and is now fully open source. This new blog delves into the importance of open source software as a basis for collaboration and innovation, and includes a Contribution Guide for anyone to become part of the Lace ecosystem.https://t.co/O1M62Bg7d8

— lace.io (@lace_io) June 8, 2023

As reported by U.Today when the wallet was first launched, Lace was designed with so much engineering vigor that it is possible to keep custody of both Cardano tokens and non-fungible tokens (NFTs). By putting its code online, developers can now build a similar product that can largely benefit the world. It is an essential time for Cardano to show transparency, considering the current onslaught of the United States Securities and Exchange Commission (SEC) against exchanges, which also indicted Cardano’s native token ADA as a security.

While Input Output Global (IOG) has debunked claims from the market regulator, related moves to show its decentralized nature can go a long way to proving it is an utility token should it need to prove itself later on. Building on legitimacy Launching the Lace code as an open source protocol has underlying benefits not just for Cardano but for the broader Web3.0 ecosystem. As detailed in its announcement, the move is a show of legitimacy for what it is building. Anyone can go ahead to inspect what it is building and determine legitimacy, which may help people to make up their minds about trusting in the brand. Cardano remains one of the blockchain outfits that maintains a robust developer profile, and with its best efforts going public, the protocol has solidified its mission of contributing to the evolution of the Web3.0 ecosystem.

News Source

AD

@CardanoFeed - Follow us on X (formerly Twitter)

Stay informed with the latest $ADA Cardano news in real time.FOLLOW NOW!


Read Original Article on Elevenews

ORIGINAL SOURCE

https://elevenews.com/2023/06/09/cardano...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


.

More from Elevenews

See more
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS
Elevenews
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS

11/07/2023

·

24 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)