New Cardano(ADA) Wallet Announced

Yesterday, Emurgo, a Cardano partner posted a video on its official YouTube channel to reveal the name of its first product developed on the Cardano blockchain. Ken Kodama, a Cardano founder and Emurgo CEO announced that the product’s name is Yoroi.

 “Yoroi is a light wallet for Cardano. It’s simple, fast and secure. Yoroi is an Emurgo product, engineered by IOHK. And it follows best practices for software in the industry including a comprehensive security audit. Daedalus and Yoroi are complements to what they try to achieve. Yoroi looks to be a day to day wallet for a Cardano user,” stated its official website.

Emurgo is a Japan-based company and is Cardano’s venture capital arm. The blockchain firm is tasked with bringing new businesses to Cardano’s blockchain, helping its commercial ventures and development. Kodama stated that Emurgo’s main objective was to help further develop Cardano’s ecosystem and reach businesses from all over the world.

The Cardano Foundation tweeted on its official page about the upcoming release of Yoroi:

“The Cardano roadmap has been updated with a special announcement on Project Icarus, a reference implementation for lightweight wallets, and Yoroi, a light-client wallet launched by Emurgo today!”

The CEO and Co-founder of IOHK talked in his latest announcement new wallet called Icarus, which will be used as a Google Chrome extension. According to Hoskinson, Yoroi is a hard fork of Icarus and the testnet for the same is set to happen this month while the MainNet is supposedly scheduled for launch next month.

Cardano also revealed that it will soon launch its IELE testnet. The IELE launch will further aid the development and effectiveness of the ADA blockchain and help reduce problems with security and accuracy.

Another upcoming update scheduled by the team is Cardano 1.4, the QA testing for which is set to start on 4th September, according to Hoskinson.