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Cardano Founder Shares Insights on This New Wallet Upgrade

Wed, 09/13/2023 - 13:15
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Tomiwabold Olajide
New release launched in response to community demand
Cardano Founder Shares Insights on This New Wallet Upgrade
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Cardano founder Charles Hoskinson draws attention to the latest Lace wallet release in a new tweet. Since its mainnet introduction in April 2023, the Lace platform has gone through multiple upgrades, adding new features and thus improving usability.

Hoskinson announced excitedly on X that the multi-delegation feature is finally out for Lace. He went on to say that the long-awaited delegation portfolios will be the next iteration of this feature.

Lace, the Cardano Web3 light wallet, has received a game-changing update with the release of Lace 1.5. The new release contains a beta version of multi-delegation, or multi-staking, a feature that allows Lace users to delegate their ADA to different stake pools without having to partition funds across multiple accounts.

Users can stake their ADA in up to five stake pools at once, with the number poised to increase in the future. The new release, which allows beta multi-delegation, was launched in response to community demand.

However, the Ledger hardware wallet does not enable multi-staking. Currently, work is being done to add support in future releases, the developers stated.

Cardano sustains development activity

According to an Insights report published by on-chain analytics firm Santiment, Cardano ranks among the top 10 projects for development growth.

Cardano had previously beaten Polkadot and Kusama in terms of development rate earlier this summer, but this has since been reversed.

Cardano Builder Teases Exciting Updates as Network Booms

Nonetheless, Cardano remains one of the top three assets in terms of development activity. The price of ADA remains low, now trading at $0.247, but the project continues to forge ahead in development.

According to Santiment, the three most important reasons why GitHub activity on a project is so valuable are as follows: 1. It increases confidence in the project's success. 2. It could also indicate that the project intends to release additional features. 3. Finally, it could be a clue that the project is unlikely to be an exit scam.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.