thecryptobasic.com
The Cardano founder, Charles Hoskinson, believes the Cardano-native Lace wallet will likely transform to a “powerhouse” in 2025.
As 2024 draws to a close, many crypto industry participants are wondering what catalysts will drive their various ecosystems to new heights in 2025. One such catalyst for the Cardano ecosystem may have recently been revealed.
“A Powerhouse”
Cardano founder Charles Hoskinson has tipped Lace, the feature-packed light wallet built by Input Output, the primary developers of the Cardano network, to be “a powerhouse” for the ecosystem in 2025.
Hoskinson expressed this sentiment on Tuesday, December 24, in response to statements from the wallet that its Nami migration, referring to the migration of users from Nami to Lace, was in “full swing” and that more users were adopting the latter.
Lace finally has some momentum. I'm extremely glad to see Nami mode working so well. Lace in 2025 will be a powerhouse for the Cardano ecosystem https://t.co/b9P84r187I
— Charles Hoskinson (@IOHK_Charles) December 24, 2024
Nami is among Cardano’s most popular wallets, boasting over 200,000 users. Input Output absorbed the wallet in 2023, launching an embedded mode that lets users stick with the Nami UX they fell in love with while enjoying all the new benefits promised by Lace, including greater security, transaction bundling, and easy governance access.
Hoskinson’s statements come as proponents expect Lace to serve as an easy-to-use, feature-packed portal to the Cardano network that makes the ecosystem more accessible to millions of users.
At the time of writing, however, the wallet is only available as a browser extension on popular options like Chrome and Brave, with a promised mobile app presumably still in the pipeline.
Despite Lace’s promise, some community members remain concerned about Input Output’s growing dominance in the Cardano wallet ecosystem following its acquisition of Nami. These proponents argue that it could create a monopoly which may not be in the best interest of end users.
To be clear, Nami’s creator, Alessandro “Ales” Konrad, has hinted at being the driving force behind the deal, noting that the wallet’s success had surpassed his expectations and that he believed it needed to be placed in the hands of capable stewards.