Lace

A light wallet from IOG.

Lace is a new non-custodial light wallet from the creators of the Cardano protocol, IOG, that was announced at Consensus 2022.

The wallet is yet to actually be released but so far we know that users of Lace will be able to:

Send, store, and receive ADA, NFTs, and tokens
delegating ada to a stake pool
browse dApps in the wallet

It has also been said that sidechain integration is under development.

Lace is available as a white-label solution for enterprise clients looking to offer their own wallet to their customers and users.

Industry

Wallets

Light Wallet

Tags

Non-custodial

Delegate Stake

White-label

Dapp Browser

Hardware Wallet Integration

Author

builtoncardano

Viewpoints

Add Viewpoint

Links

Project Website

Glossary

Non-Custodial

Non-custodial programs or applications do not hold the custody of your assets. This means that there is no third party company or person who is responsible for the security of the assets.

Non-custodial can be applied to wallets, where the user is the sole proprietor of their private keys. This means that you, and you only, are responsible for securing your assets.

The non-custodial tag can be used by platforms and applications other than wallets, such as NFT marketplaces, peer-to-peer swapping platforms, and blockchain bridges. When non-custodial is used with regard to these platforms then assets are locked up in smart contracts, and no person has custody over the assets as they are secured by the code of the smart contract.

If your wallet is non-custodial this means that only you have the ability to recover access to your wallet. This means that you should store your recovery seed and a backup of your password in a very secure location.

NFT

If you’re looking for a Cardano NFT then you’ve found the place for you! listed here are all the projects that feature NFTs in some form on Cardano. NFTs are no longer just the PFP collections that made them famous, although many do still exists and you can find Cardano NFT projects here, NFTs are assets with multiple different types of utility, depending on which project’s NFTs your buying.

A Cardano NFT is a native asset on Cardano which means that, unlike on other (specifically EVM-based) chains, an NFT is not managed by a smart contract, meaning that it behaves and is managed differently to the chain’s base asset, ada. On Cardano NFTs behave the same as the chains base asset as they are native to the chain.

On this page you’ll find everything from Cardano NFT projects to DeFi projects and decentralized identity (DID) solutions that have incorporated NFTs, to the Cardano NFT marketplaces you can use to purchase NFTs.

Light Wallet

Basic Wallet Science Cryptocurrency wallets function through a pair of cryptographic keys, one public and one private. The public key is the wallet’s address, the private key is securely stored in the wallet. Both are required to send an asset from the wallet.

Wallets are split into two categories: custodial and non-custodial. With a custodial wallet a 3rd party, e.g. an exchange or service provider, possesses the wallet’s private key. With a non-custodial wallet you alone possess the private key. Whoever controls the private key controls the wallet’s funds. Hence the mantra: Not your keys not your coins. A wallet’s security can also be increased by storing it on a hardware wallet.

Wallets are either light or full node. Full node wallets download the whole Cardano blockchain, interacting directly with it, and are less affected by network congestion than light wallets, which require other nodes to send their transactions. Full node wallets exist on computers, light wallets exist on devices and as browser extensions.

A basic wallet allows for the viewing of its balance and the sending and receiving of funds, but wallets can have many other functions, including: delegating the wallet’s funds to a stake pool, registering to vote in Project Catalyst, displaying the wallets NFTs, hardware wallet integration, and using integrated DeFi services.

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