Source: AdobeStock / RareStock
Swiss-based Cardano Foundation, the non-profit organization created to promote the Cardano blockchain ecosystem, is introducing a new digital Identity Wallet.
The new product is compatible with the World Wide Web Consortium (W3C), an international standards organization for the World Wide Web, said a Monday announcement.
New Product Launch
Introducing the Identity Wallet developed by the Cardano Foundation – a W3C-compatible mobile wallet that manages self-sovereign identities across Cardano and other blockchain networks
Key benefits:
Supports multiple identity and credential… pic.twitter.com/npF85QEuY8
— Cardano Foundation (@Cardano_CF) December 11, 2023
The wallet comes with a slew of benefits and “manages self-sovereign identities across Cardano and other blockchain networks,” Cardano noted.
“A digital identity wallet that prioritizes security, privacy, and interoperability to drive adoption and support existing ecosystems.”
The Identity Wallet supports multiple identity and credential standards, manages cryptos, and facilitates seamless interaction with Cardano’s Decentralized Applications (DApps).
Besides, it also boasts a user interface that lures new users to the platform. The interface also guarantees safety concerning the management of their digital assets.
The Identity Wallet’s prime aspect is its commitment to interoperability across ecosystems, the Tweet read. The Cardano (ADA) team’s design for this mobile wallet reflects their focus on connecting diverse ecosystems.
Additionally, the wallet also supports the Key Event Receipt Infrastructure (KERI), a protocol for digital identities. KERI works to enhance the security and efficiency of identity management, at the same time streamlining the user experience.
The wallet is currently available on both Android and iOS devices, the firm noted. This is the second such wallet launched by Cardano this year, after the Light Wallet Lace, launched in July.
Lace wallet allows users to trade crypto, view NFTs, stake crypto, and interact with dApps.
Cardano has seen a rising influence in the DeFi sector and the strong market performance of its token, ADA. Thus, the platform has positioned itself as a leading player in the blockchain ecosystem.
The launch of the new Identity Wallet did not have much notable impact on the ADA token price. At press time, Cardano (ADA) is trading at $0.6144. The network surpassed the Bitcoin blockchain in its total value locked (TVL), last month.
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