The Cardano ecosystem welcomes the latest innovation with the release of Lace 1.9, incorporating multi-account and multi-wallet functionalities.
This update marks a significant milestone for Cardano users, offering a more streamlined and secure way to manage various cryptocurrencies and digital assets.
Dive into the details of Lace 1.9 and explore how it enhances the Cardano experience.
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Introduction to Lace v1.9: A New Era for Cardano Users
The Cardano (ADA) wallet, Lace, announced on April 3, 2024, the release of its latest version, "Lace v1.9," which now includes multi-account and multi-wallet functionalities.
Lace Wallet is a lightweight wallet platform provided by Input Output, the development company behind Cardano. As of the time of this writing, a browser extension version of the wallet is available.
This wallet serves as a lightweight solution for managing Cardano-related cryptocurrencies and incorporates features for NFTs and staking. However, the newly released version notably introduces the "multi-account and multi-wallet functionalities."
Multi-Account Functionality for Enhanced Asset Management
The multi-account functionality allows the generation of multiple addresses or accounts within a single wallet, using just one recovery phrase.
This feature facilitates efficient asset management by enabling users to manage various accounts, such as "trading accounts" and "staking accounts," under a single recovery phrase.
New Multi-Wallet Feature to Satisfy User Demands
The addition of the multi-wallet functionality responds to users' desires to combine the use of hot wallets and cold wallets. This feature allows Lace users to create multiple wallets, each with its own set of keys and recovery phrases, offering an option to segregate assets for storage and trading purposes.
This segregation helps in reducing the risk in case one of the wallets is compromised.
Users can access these features from the "Account Button (wallet icon)" located at the top right of the Lace wallet interface. Clicking the ">" button next to the wallet name displays a list of accounts, making it easy to manage multiple accounts and wallets within Lace.
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