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IOG launches Lace 1.0, a new web3 platform on Cardano


Developers of Cardano, IOG, have announced the release of Lace 1.0, the network’s first lightweight wallet platform. To unite the globe through web3, Lace was built to be quick, safe, and simple. 

It has been independently audited, and it has been developed with community input and beta testing. With Lace 1.0, one may send and receive ADA, cardano NFTs, and cardano native tokens, among other digital assets.

Users may stake cardano (ADA) to protect the network and earn incentives. Users may deliver many assets to multiple recipients for a single transaction cost using the bundle transaction functionality. As an extra precaution, Lace may be used with a hardware wallet.

ADA is doing well ahead of this new development, as the asset has recorded a 4% increase in price valuation within 24 hours.

IOG launches Lace 1.0, a new web3 platform on Cardano - 1
ADA 24-hour charts | Source: CMC

The dApp connector makes it simpler for users to access NFT markets, dApps, and DeFi services throughout web3. Visit lace.io, the official website, and download the Chrome extension to get started with Lace 1.0.

What is Lace?

The Lace team is hard at work improving the platform with new features, including a dApp Store, desktop app, and digital identity solutions. Fiat on/off ramps, in-wallet swaps, a more robust staking experience with multi-delegation, and a portfolio view are all things the team hopes to implement shortly.

As an IOG creation, Lace benefits from the same rigorous academic standards and solid engineering as the rest of the brand’s offerings. Open, collaborative ideals, prevalent in all IOG initiatives, have informed the creation of Lace.

Lace 1.0 marks a major event in developing the Cardano network and the web3 ecosystem. With society moving toward a decentralized future, applications like Lace will be crucial in making blockchain technology accessible to the public.

With its goal of uniting the globe on web3, Cardano’s new Lace 1.0 is an exciting development that bodes well for a more decentralized future. Lace can bring more people into the blockchain ecosystem because of its intuitive design, built-in security measures, and ability to work with other Web3 applications.

Expect additional upgrades and enhancements in the future as the Lace team is working to better the platform.

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