Charles Hoskinson, the CEO of Input Output Global (IOG), has recently touted a new wallet that is built with the mind of making Cardano reach a billion users.
According to Cardano creator during an interview on the Big Pey podcast, the new Lace wallet is made capable of bringing tons of new users to the smart contract platform.
Lace is a lightweight multi-chain crypto wallet built by IOG to be a single interface that connects everything in Web2 and Web3. The wallet is also designed to allow users to create a decentralized identity (DID).
In the course of the interview, Hoskinson said as the wallet is made compatible with other crypto assets such as Bitcoin (BTC) and Ethereum (ETH), it also has a browser-based interface that will be made available on smartphones.
Narrating what brought about the new Lace wallet, Charles Hoskinson said:
“So about last year, we said, ‘Let’s start a research project to imagine what a portal and interface to all of the use cases would look like, to go above and beyond what a normal cryptocurrency wallet does,’ so we came up with an identity-first wallet with full-node security, but light enough to be on a phone. It was a very ambitious project…
“Now, Lace as a product is starting to come out into the market. It’s one of our first commercial B2C products, and so it’s not a reference client. It’s not like Daedalus, which is a neutral playground, but rather, this is IOG’s view of how crypto ought to be done, and our hope is that it’s going to kind of push along the standards for our entire ecosystem…
“So I thought a lot about how we get Cardano to a billion users. How do we get the ecosystem to become the world’s financial operating system?
“And some of that is just good old fashioned hardcore protocol design where you do the science, you do the engineering, you build great protocols and get those protocols into the market. Another part of that is, ‘What is the consumer interface?
“What is the portal upon which a billion people will do stuff, whether they’re playing with NFTs, issuing assets, doing DeFi things, or playing video games?”